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Commercial Smart Electric Meter Market Size
Commercial Smart Electric Meter Market was valued at USD 5.2 billion in 2023 and is projected to register over 9.6% CAGR from 2024 to 2032. Increasing energy consumption demands greater efficiency and accurate monitoring, which smart meters provide are one of the major drivers for market growth. Regulatory mandates worldwide push for energy conservation and grid modernization, incentivizing the adoption of smart metering technologies.
The integration of renewable energy sources necessitates real-time monitoring and management, enhancing grid stability. Furthermore, advancements in IoT technology and data analytics empower businesses to optimize energy usage, reduce costs, and enhance operational efficiency, driving market growth.
Why is the demand for AMI-based commercial smart electric meters increasing?
Advanced metering infrastructure (AMI) commercial smart electric meter market is anticipated to grow at over 9.5% up to 2032, propelled by widespread adoption for real-time monitoring, remote meter reading, and two-way communication.
What is the size of the commercial smart electric meter market?
The market size of commercial smart electric meter was reached USD 5.2 billion in 2023 and is projected to expand at 9.6% CAGR from 2024 to 2032, driven by increasing energy consumption demands for greater efficiency and accurate monitoring.
Who are the major commercial smart electric meter industry players?
Some of the top commercial smart electric meter firms are Aclara Technologies LLC, CyanConnode, General Electric Honeywell International Inc., Holley Performance Products, Inc., Iskraemeco Group, Itron Inc. Jabil Inc., Kamstrup, Kontron AG (S&T AG), LARSEN & TOUBRO LIMITED, Landis+Gyr, Mitsubishi Electric Corporation, OSAKI ELECTRIC CO., LTD., SAMI Advanced Electronics, Schneider Electric, Siemens, and Trinity Energy Systems Pvt. Ltd., among others.
How big is the Asia Pacific commercial smart electric meter market?
Asia Pacific commercial smart electric meter industry is estimated to generate more than USD 9 billion by 2032, attributed to the rising demand for energy efficiency solutions due to rising electricity consumption, and the need for accurate billing and real-time data monitoring.