Smart electric meters are swapping traditional meters in each field of the electrical system. Consumption of energy can be diminished by the effective utilization of smart electric meter in the transmission and circulation system. In addition to this, the additional features such as energy portfolio management, smart grid, real-time foretelling, and grid integration of renewable sources are further influencing the requirement for smart electricity meters.
According to the report analysis, ‘Asia Pacific Smart Electricity Meters Market 2020-2027 by Component (Hardware, Software), Technology (AMR, AMI), Communication Type (Cellular, RF, PLC), Phase (GISM, GIST, GISS), Precision (0.25S, 0.2S, 0.5S), End Use (Residential, Commercial, Industrial), and Country: Trend Outlook and Growth Opportunity’ states that Aclara Technologies, EDMI Limited, Elster Group GmbH (Honeywell International Inc.), Hexing Electric Company, Holley Technology Ltd (Zhejiang Huamei Holding Co. Ltd), Itron Inc., Jiangsu Linyang Energy Co., Ltd., Kamstrup A/S, Landis + GYR Group AG, Mitsubishi, Nanjing Xinlian Electronics Co., Ltd., Sagemcom SAS, Sensus USA Inc., Shenzhen Hemei Group Co. Ltd., Shenzhen Kafia, Wasion Group Holdings and countless others are the foremost entities which presently working in the Asia Pacific smart electricity meters market more proficiently for leading the highest market growth and registering the handsome value of market share around the globe while increasing the applications and features of such, delivering the better consumer satisfaction, decreasing the associated prices of such, decreasing the linked prices of such, employing the young and active personnel, analysing the strategies and policies of government and similar entities, implementing the policies of enlargement and profit making, establishing the several research and development programs and improving the qualitative and quantitative measures of such.
In addition, it is predicted that the Asia Pacific is leading the worldwide smart electricity meters market throughout the forecast period. The significant augment in investments in smart grid technologies and smart cities, augment in the number of data centres, and speedy expansion of IT hubs and commercial institutions influence the smart electricity meter market around Asia Pacific. Replacement of first-generation meters and the change to advanced metering infrastructure (with higher capabilities and developed technology) are projected to fuel the smart electricity meters market around Asia Pacific. China registers for a prominent share of the worldwide smart electricity meters market owing to large-scale rollout plans, due to greatest installed generation and distribution capacity around Asia Pacific, resulting in an increased requirement for smart electricity meters.
Furthermore, the Smart electricity meters are broadly utilized in the residential sector, as this meter measures the energy disbursed by the consumers. Investments in smart grids and an upsurge in the approval of renewable sources of power generation to present grids in developed economies are probable to propel the smart electricity meters market. Growing urbanization and positioning of smart home projects fuels the mandate for automatic control of electricity, light, and energy in order to avoid wastage. Hence, the snowballing adoption of smart home devices and technologies across homes, around the region, is probable to boost the smart electricity meters market. Therefore, in the near years, it is predicted that the market of smart electricity meter will increase around the globe more proficiently over the coming future.
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Global Smart Electricity Meters Market 2020-2027 by Component (Hardware, Software), Technology (AMR, AMI), Communication Type (Cellular, RF, PLC), Phase (GISM, GIST, GISS), Precision (0.25S, 0.2S, 0.5S), End Use (Residential, Commercial, Industrial), and Region: Trend Outlook and Growth Opportunity
Ankur Gupta, Head Marketing & Communications