The global smart meters market is expected to reach $18.2 billion by 2019, at a growth rate of 10.2% from 2014 to 2019.
Currently, in the global smart meters market, North America accounts for the largest consumption of meters due to government initiatives, such as allocating funds and making smart meters mandatory in a number of states such as California and Texas. The Asia-Pacific market holds the second position and its growth is high because of the Chinese government investing extensively in the smart grid project that includes installation of these units on a wider scale.
In terms of type, smart electric meters account for the largest share in the smart meters industry. Increasing electric smart meter penetration is due to its benefits, such as prepayment facilities, fraud detection, peak consumption knowledge, and energy saving. Since electricity meters help to monitor energy usage efficiently and reduce the dependence on depleting fossil fuels, governments and other legislative bodies are promoting the installation of smart electricity meters around the world.
Region-wise, the market has been studied for different regions such as the Americas, Asia-Pacific, Europe, and RoW. The market size has been analyzed in detail for all the major countries. The study covers different strategies such as contract agreements, mergers & acquisitions, region-wise expansions, and others.
Itron Inc. (U.S.), Elster Group (Germany), Landis+Gyr (Switzerland), Siemens AG (Germany), Schneider Electric SA (France), and Honeywell International Inc. (U.S.) are the dominant market leaders providing specialized products and services.
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