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Government Policies to Push Smart Meters Market towards Robust Growth
Date: 20 November 2017

Advance metering infrastructure (AMI) comprises of three key elements i.e. smart meters, communication Infrastructure, and data management. Metering infrastructure has evolved over the years and the rate of migration from traditional metering to smart metering has increased with better understanding of energy usage and conservation. Smart meters enable two way communication to both utilities and the consumers.

 

Government of several countries is turning towards AMI systems as part of larger smart grid initiatives, where smart meters are a critical component of a smart grid. A smart meter provides timely data collection and a platform to engage in the smart choice to regulate ones energy usage. Various nations are heading towards imposed mandates to switch to smart meters so as to inculcate energy saving habits among the population along with encouragement of using renewable sources of energy.

 

Global smart meters market is set to experience staggering growth in the coming five years with increased penetration of smart meters in majority of the developed regions. Global smart metering market is likely to see robust growth owing to factors such as increase in number of new housing starts, ageing infrastructure and resilience, and increased urbanization. Improving economic conditions would further drive the market growth.

 

The major trends of the market includes industry consolidations and increased focus on research and development (R&D). However, growth of the market will be hindered by increased competition from Chinese players because the competition in the market is highly consolidated with majority of the market share being owned by top five players majorly.

 

The research report, “Global Smart Metering Market (Electricity Gas & Water): Industry Analysis & Outlook: 2017 Edition” by Koncept Analytics provides an extensive research and detailed analysis of the market performance at present and future outlook of the global and regional market.

 

 
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