Electric Sub-meter Market – Evolving Latest Trends To Lead Global Industry By 2024

Electric Sub-meter Market: Overview

 

The electric-sub meter helps in recording and measuring the consumption of the electricity for the individual component of the construction instead of having an individual meter that will measure the entire consumption of the energy in the construction. Installing the electric-sub meters in the multi-tenant spaces removes the extra operational cost which in turn benefits the owner of the construction economically.

 

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Electric Sub-meter Market: Facts

 

The ongoing energy management service models and the developments that are made in the building energy management systems (BEMS) are triggering the adoption of the electric sub-meters to a wide set of building owners and managers. The sub-meters are now attracting the midmarket of the smaller facilities along with a wider audience in order to disaggregate their electricity bills.

 

Electric Sub-meter Market: Segmentation

 

The global market for the electric sub-meter is fragmented into its type and application. Based on the type, the global market is segregated into smart sub-meter, non-socket/electronic sub-meter, and socket type/electromechanical sub-meter. The socket type/electromechanical sub-meter segment is sub-segmented into current transformer and feed-through sub-meter. Based on the applications, the market is categorized into industrial sector, residential sector, and commercial establishments. The commercial establishments segment is sub-segmented into data centers, large retail stores, and others.

 

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Electric Sub-meter Market: Growth Factors

 

In the commercial and the industrial sectors, there is an increased importance for monitoring, reducing, controlling, and managing the proper usage of the electricity. The increasing requirement for the regularity and compliance of the electricity management and the growing focus on categorizing the indicators for the efficient usage of the electricity are the major factors that are driving the electric sub-meter market. In the recent years, there has been an increased focus on finding out ways for the efficient management of the electricity especially in the industrial and the commercial sectors with an increased interest in integrating the sub-meters to the big data and cloud have augmented the development of the market. Other factors that are contributing to the growth of the market are the implementations that are made by the government about the installations of the sub-meter in the new construction works and the advancements that are made in the technologies such as internet of things in order to renova

te the conventional energy infrastructure. The factor that restrains the growth of the market is lack of awareness among the users about the efficient management of the energy.

 

Electric Sub-meter Market: Regional Analysis

 

The region that is leading the electric sub-meter market is North America. The factor that is contributing to the growth of the market in the North American region is the increasing importance of the energy management solutions. The electric sub-meter market is growing at a fast rate in Asia Pacific region owing to the escalating industrial and commercial sectors and due to the increased adoption of the sub-meters for the tenant billing and the management of the energy.

 

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Electric Sub-meter Market: Competitive Players

 

The key market players that are involved in the electric sub-meter market include Siemens AG, Elster Group, Leviton, Nuri Telecom, Honeywell International, Schneider Electric, LEM, GE Digital Energy, Kamstrup, Studebaker Submetering Inc., Echelon, Linyang Electronics, and Chintim Instruments Submeter Solutions.

 

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