Electricity Meters Market to Rise at a CAGR of 18.7% from 2012 to 2018 due to Growing Need to Measure Energy Consumption
According to the research report, the global electricity meters market was valued at US$4.0 bn in 2011 and is expected to reach US$19.8 bn by 2018, registering a CAGR of 16.5% from 2012 to 2018 in terms of revenue. Electricity meters are devices that are deployed to measure the consumption of energy in both industrial and household areas. This market will grow as long as the consumption of energy continues to increase due to the rising population and industrialization. The global electricity meters market is expected to rise at a CAGR of 18.7% from 2012 to 2018.
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Modern-day electricity meters are based on legacy systems. The previous machines were electromechanical in nature and provided the ability to communicate two-way and had the capability to measure and report demand for energy.
The growing pressure on falling fossil fuel reserves and rising dependence on renewable sources of energy has encouraged the adoption of smart meters, which control the energy consumption of a given unit. These meters have the ability to compensate and handle the depleting supply of electricity to improve the customer service. Therefore, they are an important device for a majority of the companies operating in the electricity meters market. The factors restraining the growth of this market are the poor rate of awareness among end users and growing concerns pertaining to the privacy of users in the forecast period. However, initiatives taken by governments and other legislative bodies will open up new opportunities for this market.
The global electricity meters market is segmented on the basis of application and geography. The application of electricity meters in seen in the residential, commercial, and industrial sectors. Geographically, this market is segmented into North America, Europe, the Middle East and Africa, and Rest of the World.
Some of the important players in the global electricity meters market are Landis+Gyr., General Electric, Holley Metering Ltd., Jiangsu Linyang Electronics Co., Ltd., and Itron. The research report provides a thorough explanation of the competitive landscape of the electricity meters market by profiling these players, along with examining the regulatory framework governing these companies. Furthermore, the research report also provides an assessment of the financial overview, research and development activities, investment outlook, product portfolio, business and marketing strategies, and strategic mergers and acquisitions of these players in the coming years.
Market Segmentation of Global Electricity Meters:
Electricity Meters Market, by Application:
Electricity Meters Market, by Geography:
EMEA (Europe, the Middle East, and Africa)
Rest of the World (RoW)
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