Global Smart Electricity Meter Market By End User (Residential, Commercial, Industrial)
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The Global Smart Electricity Meter Market size is expected to reach $44.0 billion by 2023, rising at a market growth of 5.9% CAGR during the forecast period. Smart electricity meter devices are used in projecting the lower peak electricity demands. Additionally, end-users have complete control over the power consumption as monitoring power consumption is possible on a daily basis. Market participants supplying energy would stand to gain with the adoption of these devices, as they could easily reduce reaction time and resolve power outages & hardware faults, and improve customer service functions. Various smart meters rollout schemes in regions such as U.S, and UK, and initiatives by the government supporting the installation of these devices are the factors that complement the growth of the smart electricity meter market. Metering devices are capable of handling intermittent supply, as result, compensating the loss by controlling energy consumption of various electronic equipment.
Based on End User, the Smart Electricity Meter market segments the market into Residential, Commercial, and Industrial. Based on Regions, the Smart Electricity Meter market segments the market into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The market research report covers the analysis of key stake holders of the Global Smart Electricity Meter Market. Key companies profiled in the report include Anixter Inc., Belden Inc., Commscope, Inc., Corning Incorporated, Furukawa Electric Co., Ltd., General Cable, Legrand S.A., Nexans S.A., Schneider Electric SE, and The Siemon Company.