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Smart meters are slowly unlocking the future for a smart energy system that’s main function is to deliver cost-effective, secure and clean energy. Smart meters are slowly paving the way for a futuristic energy system. This will not only enhance renewable energy generation and lower emissions but also give intrinsic opportunities to organizations for innovation in order to support a broader digital economy. Asian countries are poised to be the leaders in this space and it is predicted that nearly 70% of all homes in this region will have access to smart meters. The advantages of smart meters such as accuracy in billing, reduced operational costs and the elimination of meter readings are going to propel the smart meters market to newer heights.
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Towards this, IoT smart meters are capturing a major stake in the smart meters market. This turnkey service will entail remote monitoring in order to record consumption indexes, introduce reliable billing, give out alarm notices in case of fraud and cut off power supply of customers who have not paid their bill. Demand forecasting is also something smart meters can accomplish. For instance, advanced analytics are performed on smart meter data. These smart predictions help energy suppliers to balance out supply and demand to prevent black-outs. The data is collated and connected with the help of smart meters and sensors placed throughout the supply grid. Through historical data, predictions can be made on how energy will be needed for the future. With a wide variety of ‘smart solutions’, manufacturers can glean information on the ‘up and coming’ technologies in the smart meters market.
The research report on smart meters presents a comprehensive assessment of the smart meters market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report in smart meters provides analysis and information according to market segments such as geographies, type, application, and technology.
The smart meters market report covers exhaustive analysis on:
Supply & Demand
Competition & Companies involved
Regional analysis for smart meters includes:
North America (U.S., Canada)
Latin America (Mexico, Brazil, Argentina, Chile, Peru)
Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe)
CIS and Russia
Asia-Pacific (China, India, ASEAN, South Korea)
Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
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Smart meters market project to multiply in low double digit growth
The growing inclination of people towards energy efficiency has triggered the growth of smart meters market in the recent past. Furthermore, government policies supporting the installation of smart meters have led to their faster adoption, especially in the developed countries. The governments in several countries, as a part of clean energy initiative, have issued regulations mandating the use of smart meters. For instance, the U.K. government has targeted the deployment of around 50 million smart electric and gas meters in business centers and residences by 2020.