The Smart Electricity Meter Market was worth USD 8.89 billion in the year 2012 and is expected to reach approximately USD 23.53 billion by 2022, while registering itself at a compound annual growth rate (CAGR) of 10.22% during the forecast period. In 2016 the worldwide smart electricity meters market size was evaluated at USD 6.59 billion. The smart energy meters are utilized to extend the reduce demand of peak electricity, likewise end-users can conveniently monitor the consumption of power daily and decrease it in like manner.

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Energy providers are additionally expected to pick up benefits through these gadgets, adjusting to their advantages of decrease in response time to determine power cuts and equipment faults, and enhanced client benefit conveyance because of remote perusing accommodations. Different smart meters rollout plots in various districts, for example, United Kingdom, United States, and positive government activities supporting establishment of these gadgets are anticipated to play a key part in industry development. Since production of energy utilizing sustainable methodologies shifts with time, low generation of power results in temperamental vitality profitability. Nonetheless, utilizing metering gadgets that are equipped for dealing with irregular supply help in making up for this loss by controlling energy utilization of different electronic gear. The extensive development anticipations can be authorizing to the considerable advancement of efficient and green energy transmission facilities. Integrated existence crosswise over esteem chain, particularly for ongoing data sharing with respect to utilization and levy rates is seen to be an upper hand. Expanding consciousness among buyers about the advantages of these gadgets is anticipated to positively impact smart meters market development over the conjecture time frame.

Europe and North America smart meter market are anticipated to witness ideal development by virtue of the administrative conditions and institutionalized strategies. Smart meters are additionally foreseen to encourage improved matrix administration, and are key concentration zones for smart grid projects. Asia Pacific smart meters market is anticipated to develop at a significant pace in the upcoming years. China is outfitting towards economic management of energy with significant reserves for smart grid execution in its thirteenth Five Year Plan. Asia Pacific is trailed by Europe, which represented more than 12 percent of the income share in 2016. Government orders have been built up for the European Union, with rollout plans set by the Commission for Energy Regulation among other administrative bodies. Europe has additionally been centering towards diminishing power utilization by vitality preservation as a long-term objective.

Major Market Players:

• Elster Group
• Schneider Electric
• Iskraemeco
• ABB Group
• Siemens
• Landis+Gyr
• Holley Metering Ltd
• Itron and General Electric

The Global Smart Electricity Meter Market is segmented as follows-

By End User:

• Commercial
• Residential
• Industrial

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