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Utility Scale Smart Electric Meters Market Size

  • Report ID: GMI10510
  • Published Date: Jul 2024
  • Report Format: PDF

Utility Scale Smart Electric Meters Market Size

Utility Scale Smart Electric Meters Market size was assessed at USD 2.2 billion in 2023 and is projected to grow at a CAGR of 11.9% between 2024 and 2032, on account of the rising demand for efficient energy management and the integration of renewable energy sources. Smart electric meters provide real-time monitoring and data analytics, enabling utilities to optimize energy distribution, reduce losses, and enhance grid reliability. Governments worldwide are supporting smart grid initiatives and infrastructure upgrades, driving market expansion.

 

The push for sustainability and the adoption of Internet of Things (IoT) technologies further fuel the market, as smart meters facilitate energy conservation and cost savings for consumers. Additionally, advancements in communication technologies and data security are enhancing the capabilities and adoption of smart meters. Key players are investing in research and development to innovate and offer advanced solutions, which is expected to continue propelling market growth in the coming years.

 

Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

The market size of utility scale smart electric meters reached USD 2.2 billion in 2023 and is set to register 11.9% CAGR from 2024-2032, owing to the rising demand for efficient energy management and the integration of renewable energy sources worldwide.

Utility scale smart electric meters industry from the AMI segment is expected to register exceed USD 5.7 billion by 2032, due to its ability to provide advanced data collection capabilities, allowing utilities to gather detailed real-time consumption data.

Asia Pacific market is expected to reach over USD 4.5 billion by 2032, attributed to governments across the region investing in smart grid projects and energy infrastructure upgrades to improve energy efficiency and sustainability.

AEM, Apator SA, Badger Meter, Inc., Chint Group, General Electric, Honeywell International, Inc., Itron, Inc., Kamstrup, Larsen & Toubro Limited, Schneider Electric SE, Sensus, Siemens, Sontex SA, and Wasion Group, are some of the major utility scale smart electric meters companies worldwide.

Utility Scale Smart Electric Meters Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 16
  • Tables & Figures: 15
  • Countries covered: 34
  • Pages: 110
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