Mention the key players involved in smart meters industry?

ABB, AEM, Aclara Technologies LLC, ARAD Group, B Meters Metering Solutions, Badger Meter, Inc., Chint Group, General Electric, and Honeywell International Inc among others.

How big is the Asia Pacific smart meters industry?

Asia Pacific smart meters market is anticipated to surpass USD 43.5 billion by 2032, on account of growing rapid urbanization, leading to the development of numerous smart city projects.

What is the size of the smart meters industry?

The market size of smart meters was worth over USD 24.5 billion in 2023 and will grow at 15.1% CAGR through 2032, on account of rising number of government initiatives and regulatory mandates.

Why is the demand for residential smart meters growing?

The residential segment in the smart meters market is expected to cross USD 40 billion by 2032, as many governments worldwide are implementing policies and regulations to promote the adoption of smart meters.

Smart Meters Market Size

Report ID: GMI1180

Published Date: July 2024

Report Format: PDF

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Smart Meters Market Size

Smart Meters Market was valued at USD 24.5 billion in 2023 and is set to grow at a CAGR of over 15.1% from 2024 to 2032, on account of rising number of government initiatives and regulatory mandates aimed at promoting energy efficiency and reducing carbon footprints, accelerating smart meter deployments. These meters offer real-time monitoring of energy consumption, enabling consumers to optimize their energy use and reduce costs. Additionally, advancements in communication technologies, such as IoT and 5G, enhance the functionality and reliability of smart meters, further boosting their adoption.

Smart Meters Market

Utilities and energy companies benefit from smart meters through improved grid management, reduced operational costs, and enhanced customer service. The integration of renewable energy sources into the power grid also necessitates the use of smart meters for better energy distribution and management. Thus, the growing emphasis on sustainable energy practices and technological advancements are propelling the market growth.

Authors: Ankit Gupta, Riya Gupta

Frequently Asked Question(FAQ) :

Mention the key players involved in smart meters industry?: ABB, AEM, Aclara Technologies LLC, ARAD Group, B Meters Metering Solutions, Badger Meter, Inc., Chint Group, General Electric, and Honeywell International Inc among others.
How big is the Asia Pacific smart meters industry?: Asia Pacific smart meters market is anticipated to surpass USD 43.5 billion by 2032, on account of growing rapid urbanization, leading to the development of numerous smart city projects.
What is the size of the smart meters industry?: The market size of smart meters was worth over USD 24.5 billion in 2023 and will grow at 15.1% CAGR through 2032, on account of rising number of government initiatives and regulatory mandates.
Why is the demand for residential smart meters growing?: The residential segment in the smart meters market is expected to cross USD 40 billion by 2032, as many governments worldwide are implementing policies and regulations to promote the adoption of smart meters.

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Authors: Ankit Gupta, Riya Gupta

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Premium Report Details

Base Year: 2023

Companies covered: 23

Tables & Figures: 15

Countries covered: 21

Pages: 110

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Smart Meters Market Size

Smart Meters Market Size

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