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Asia Pacific Smart Electric Meter Market Trends

Report ID: GMI9062
Published Date: Apr 2024
Report Format: PDF

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Asia Pacific Smart Electric Meter Market Trends

The Asia Pacific smart electric meter industry is witnessing several key trends. There's a growing adoption of advanced metering infrastructure (AMI) solutions, driven by the need for real-time data analytics and remote monitoring capabilities. Additionally, governments across the region are increasingly focusing on energy efficiency and grid modernization initiatives, fueling the demand for smart meters. Integration of smart meters with smart grid technologies like IoT and AI is also on the rise, enabling utilities to optimize energy distribution and improve reliability. Moreover, there's a shift towards smart prepaid meters, empowering consumers with better control over their energy usage and expenditures.

Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

Asia Pacific market for smart electric meter was reached USD 9.3 billion in 2023 and is anticipated to register 12.1% CAGR through 2032, driven by increasing urbanization and industrialization across the region, pushing utilities to adopt smarter metering solutions for better management and efficiency.

The residential segment in the Asia Pacific smart electric meter market is poised to cross USD 13 billion by 2032, due to increasing household energy consumption, and government initiatives promoting energy efficiency.

China smart electric meter market is anticipated to surpass USD 23.5 billion by 2032 attributed to the technological prowess and government initiatives for smart grid deployment.

ABB, Aclara Technologies, Apator, Circutor SA, General Electric, Honeywell Elster, KamstrupItron, Larsen & Toubro Limited, Osaki Electric and Schneider Electric