According to MarketsandMarkets’ research report, "Smart Electric Meter Market by Communication Technology Type, End-User, Phase, and Region - Global Forecast to 2023", the global market for smart electric meters is projected to grow from an estimated $9.27 Billion in 2018 to $11.33 Billion by 2023, at a CAGR of 4.11%, from 2018 to 2023. The market is set to witness growth due to the increased need for efficient data monitoring systems coupled with favorable government policies for smart meter rollout,.
- The residential segment is expected to hold the largest share of the Smart Electric Meter Market, by end-user, during the forecast period.
- The three-phase segment is expected to grow at the fastest pace in the Smart Electric Meter Market, by phase, during the forecast period.
- The Power Line Communication (PLC) segment is expected to hold the largest share of the Smart Electric Meter Market, by communication technology type, during the forecast period.
- Asia Pacific: Key market for the Smart Electric Meter Market during the forecast period
- Key players in the Smart Electric Meter Market are Itron (US), Landis+Gyr (Toshiba Corporation) (Switzerland), Jiangsu Linyang (China), Wasion (China), Aclara Technologies (Hubbell Incorporated) (US), Schneider (France), Siemens (Germany), Honeywell (US), and Iskraemeco (Slovenia).
Need more meter knowledge? Peruse select portions of the "Smart Electric Meter Market" report.