Energy

Smart Meters Market Size- Segments, Industry Revenue, Share and Demand by 2030

The smart meters market will witness a healthy growth from 2017 to 2023, a research report suggests. Growing at a high CAGR, the market is projected to reach a high valuation by 2023. The rise in the demand for smart meters is expected to support the market growth along with the initiatives taken by the government. As predicted by analysts, the maintenance and the high installation cost will negatively affect the market's performance from 2017 to 2023. During the forecast period, the market will be supported by the growing demand for commercial sectors for the installation and smart meter implementations in different sectors.

Compatibility issues with the device on the other hand will challenge exploration sector based organizations functioning in the global smart meters market. Analysts have split the market into type, technology, and application segments based on products and services. Exploration based companies have been profiled. The lack of awareness is set to affect the global market during the forecast period 2017 to 2023. The report also provides the market's performance forecasts till 2023. Analysts have studied the strategy of exploration segment based organizations to help new entrants and established businesses. The exploration sector itself is supported by the outspread of information as well as the rise in the consumption of energy. During the forecast period 2017 to 2023, the smart meters market is set to witness a health growth across type, technology, and application segments as well as regional markets.

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Competitive Landscape

The global smart meters market research report brings a comprehensive study of type, technology, and application market segments, regional analysis, and exploration vertical based company details of key players. As the forecast period 2017 to 2023 will bring new opportunities for the market owing to the rising developments in industrialization and the growing awareness, the market is set to grow at a high compound annual growth rate and is predicted to reach a high valuation by 2023. With SWOT analysis of exploration sector based companies and Porter's Five Force model analysis based findings, and understanding challenges such as demand and supply gaps and an undeveloped infrastructure, companies in the exploration sector can change the way business is done.

Market Segmentation

The exploration sector has seen growth across type, technology, and application segments owing to the demand across different industry verticals and the rise in distribution channels. To study the market, analysts have further segmented type, technology, and application into electric meters, gas meters, and water meters on the basis of type. The market is further segmented into application sub segment which is split into residential, industrial, and commercial.

The segmental analysis presented in the report provides exploration field based organizations insights into key growth factors such as the presence of many untapped opportunities across the market as well as challenges such as mobilization demand the market will face from 2017 to 2023. Favorable policies across regional markets and the growing application areas are some of the key factors having an influence on exploration industry based companies, suggest analysts as per the smart meters market report. But the report also identifies the requirement of the huge investment and the increasing demand for product substitutes as major threats companies in exploration will face till 2023.

Regional Overview

Exploration market based companies in the smart meters market are functioning across North America, Europe, Asia Pacific, the Middle East, and Africa including the rest of the world. The rising demand from different industry verticals will be a key growth driver for regional markets. However, low research and development budgets will turn out to be a threat. For the forecast period 2017 to 2023 each of these regional markets are studied in the report. Starting from North America, the regional market and exploration vertical based companies are spread across the United States, Canada, and Mexico. The lack of demand from developing regions will turn out to be a major challenge from 2017 to 2023. Parts of the European market covered in the report are regional markets spread across the United Kingdom, France, Italy, and Germany. The market in the region will be benefitted by the increasing spending power of consumers as well as the growing food and beverage processing industry, suggests the report. Similarly, the exploration sector's segmental analysis for the Asia Pacific region covers India, Japan, China, and others. For the rest of the world, the research report for the smart meters market covers the Middle East and Africa. Forecast based on the report's findings are presented for the forecast period till 2023.

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Industry News

Calisen Plc, a smart meter firm based in the United Kingdom, will be taken private by a consortium of investors led by Blackrock Inc., Mubadala Investment Co., and Goldman Sachs Group Inc. for around 1.43 billion pounds. Calisen manages and runs automated electric and gas metre substitutes for homes and enterprises. The U.K. regulator, Ofgem, plans to switch the whole country to smart metres as a way to help control power supply and demand. In February, the firm went public, selling 329 million pounds in one of the year's biggest initial public offerings in the United Kingdom. Calisen's stock has dropped around 14% since then, after rising 25% on Friday on the news of the takeover.