San Francisco, California, February 27, 2018: The global smart meters market is predicted in a report by TMR Research to be impacted by the implementation of certain government policies. Bearing the title “Smart Meters Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025,” the report anticipates the continuously increasing demand for power in the form of electricity to also play a crucial role in market growth. The demand has compelled governments to pay close attention to the loss of power due to leakage or theft and also its transmission and production. As a result, you could see smart meters being promoted across the globe.
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The smart meters market is also expected to gain significantly from the rising focus on water and energy conservation. Furthermore, the demand for smart meters could be bolstered with the rising deployment of smart grids. Market growth is envisaged by seasoned analysts to be stoked by the swelling awareness about environment conservation. The market could gain a whole lot of attention in the coming years due to encouraging government policies in key countries. In 2016, the U.K.’s British Gas agreed to provide a day’s free daytime power each weekend to more than a two million smart meter consumers.
Smart meters could be extensively used for deployment in commercial, industrial as well as residential sectors. They could be engaged for not only keeping track of power consumption but also that of water and gas. The use of automatic meter reading (AMR), advanced metering infrastructure (AMI), and other sophisticated technologies in smart meters could also up their demand in the near future. One of the most effective usages of smart meters is envisioned to be the control of radioactive emission levels in the ecosystem. Smart meters provide information about water, gas, and power consumption in digital form in uniform time intervals for billing and monitoring purposes.
Global participants are projected to find lucrative growth opportunities in North America because of constant efforts taken by governments to deploy devices for preventing and monitoring gas, water, and power leakage. There are efforts also taken for improving gas, water, and power supply infrastructure. The growth of the regional market is forecast to attain strength on account of smart meters being rolled out at subsidized prices in Mexico and the U.S.
The developing Smart Meters Market in Asia Pacific could also contribute with the popular smart city concept and rising investments for upgrading and repairing aging infrastructure. The region is also suffering water and power scarcity, due to which there is a strong requirement of dependable systems. Moreover, the telling growth of the industrial sector is prophesied to set the tone for a valuable growth in the region.
New players are expected to face challenges to enter the international smart meters market high technical skills and capital investment required to distribute and manufacture products. Nevertheless, these entry barriers could be overcome with support gained from strategic partnerships and government regulations. Furthermore, there could be an adoption of powerful growth strategies such as mergers and acquisitions and product innovation by players to counter high competitive rivalry. Honeywell International Inc., Landis+Gyr, Holley Metering Ltd., Kamstrup A/S, and Itron Inc. are some of the important players of the market. The report offers a comprehensive account of the competitive landscape and how it would shape in the foreseeable future.