Smart Meters Market Size, Growth, Analysis, Trends and Segment Forecasts to 2020 : Hexa Research

Smart meters market is expected to witness the growth over the forecast period due to its advantages over traditional meters in terms of fulfillment of favorable regulatory conditions. Initiative from government, electricity utility companies and other regulatory bodies are expected to increase the usage of smart meters, increasing the growth of the market in coming years. Rules set by these legislative bodies in order to, ensure secure energy theft, electricity supply, monitor & control power consumption in household, industrial and commercial locations. Furthermore, increasing activities in countries such as distribution networks, up gradation of meters, generating capabilities and transmission systems are aiding the growth of smart meters globally. High level of energy efficiency conducted by smart meters is expected to impact the industry over the forecast period. Growing demand and installation of advanced metering and smart grids infrastructure are impactful on global market trends providing high growth of smart meters market. Consumption of smart meters is increasing due to low operating cost as well as energy saving capabilities of smart meters. Rise in penetration of machine-to-machine technology in home as well as industrial smart meter uses is anticipated to positively impact the smart meters market growth over the forecast period.
Reduced carbon emissions, effective government policies for smart grid and enhanced operational efficiency are the key drivers of smart meters market. However, lack of consumer awareness for smart meters, cost bearing dilemma, consumer resistance and lack of interoperability are expected to restraint the market. Smart grid operators turning to smart electric meters and emerging economies provide key opportunities to enhance the market growth in coming years.

Product Insights

Gas meters, electricity meters and water meters are the major products under smart meters category. In addition to that, the smart meters offer...