(M2 PressWIRE Via Acquire Media NewsEdge) According to the new market research report 'Global Smart Meter Market', the global smart meter market is expected to grow from $4,381.0 million in 2010 to $15,261.4 million in 2016, at an estimated CAGR of 20.8% from 2011 to 2016.
Browse 116 market data tables & figures and 293 pages on "Global Smart Meter Market".
Smart meter is an electronic measuring instrument which enables two-way communication and transfers the data between customers and utility players. It records the detailed data, collects and stores interval data, and interfaces with other devices, such as in-home displays, smart thermostats and appliances, home area networks, advanced control systems, and more. Major applications of smart meters analyzed in the report are residential, commercial, and industrial.
The global smart meters market is estimated to reach $15,261.4 million in 2016 from $4,381.0 million in 2010, at a CAGR of 20.8% from 2011 to 2016.
The market in North America accounted for the highest share in the smart meter market with $4,614.7 million in 2011, and is expected to reach $11,612.0 million in 2016 with a CAGR of 20.3%. Europe and APAC are driving the smart meter installation and expected to hold 19.7% of the global market share in 2016. Residential was the largest and one of the fastest growing application in 2010. This was primarily due to the rapid replacement of standard & AMR meters with smart meters.
The global installation for smart electric meter was 25,400.0 thousand units in 2010.The installation capacity for smart electric meter is projected to reach 104,100.0 thousand units by 2016; with a CAGR of 24.9% from 2011 to 2016 due to increasing demand for smart electric meters in countries such as China, Australia, India, Sweden, The Netherlands, Spain, and the U.S. through the governments' support worldwide and to reduce the environmental footprint of the country. Also, the installations for smart gas meter and smart waster meter also growing throughout.
Some of the key market players in the global smart meter market based on their market presence and analysis are Landis+Gyr Ltd (Switzerland), Itron Inc (U.S.), Elster Group (Germany), GE Energy Company (U.S.), and Sensus USA Inc (U.S.).
The objective of the report is to highlight key market trends and winning imperatives which can be strategically useful and actionable for the stakeholders; i.e. smart meter manufactures, government utility providers, private utility providers, private customers, network operators, metering companies, smart grid players, communication vendors, smart meter component manufactures, and venture capital firms. The entire report is supported with lot of facts and figures about market size (units), market revenues ($million), and policies and regulations for smart meter suppliers. In addition to market sizes and forecasts, the report also provides a detailed analysis of the market trends and factors influencing market growth, offering in-depth geographic analyses of the smart meters and their applications markets in North America, Europe, Asia-Pacific, and Rest of the World (ROW). The report draws the competitive landscape of the global smart meters market, providing an in-depth comparative analysis of the technological and marketing strategies key players are adopting in order to gain an edge over their competitors.
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