The demand for smart
electricity meters was 25 million units in 2011, and is expected to
reach over 148 million units in 2018, growing at a CAGR of 18.7% from
2012 to 2018. In terms of revenue, the market was valued at USD 4.0
billion in 2011, and is expected to reach USD 19.8 billion in 2018,
growing at a CAGR of 16.5% from 2012 to 2018.
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Increasing smart
meter penetration due to benefits such as prepayment facilities,
fraud detection, peak consumption knowledge, and energy saving is
expected to drive the market over the forecast period. Significant
regulatory initiatives, especially in the European Union, are
estimated to assist in a large number of smart meter rollouts in the
coming years. In addition, growing awareness of the importance of
ensuring energy efficiency by controlling electricity usage during
peak hours is expected to positively impact smart meter demand. On
the other hand, credible security concerns among consumers due to
lack of standardization and privacy issues are expected to deter
market growth over the next few years.
Meters used for
residential purposes held the largest market share in 2011, a trend
that is expected to continue in the coming years. Residential
applications accounted for over 81% of global smart meter units in
2011 while contributing to only 26.3% of the overall revenue. The
demand for commercial smart meters is expected to reach 15.8 million
units by 2018.
North America led
the global market in 2011; however, Asia Pacific is expected to be
the fastest growing market in the coming years, and is predicted to
grow at a CAGR of 20.5% from 2012 to 2018.
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The market is fairly
consolidated, with the top four players accounting for over 60% of
the overall demand in 2011. Key participants include Itron,
Landis+Gyr, Elster, Sensus, Holley Metering Ltd., General Electric,
and Jiangsu Linyang Electronics Co., Ltd. among others.
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The report analyzes
the global electricity meters market in terms of new installations by
estimating it on the basis of revenue (USD million) and volume
(million units). The market has been segmented as follows:
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Electricity
Meters Market, by Application:
Residential
Commercial
Industrial
Electricity
Meters Market, by Geography:
North
America
EMEA
(Europe, the Middle East, and Africa)
Asia Pacific
Rest of the
World (RoW)
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