Global Smart Meter Market is projected to exhibit a CAGR of 6.23% during 2016 – 2021

Date: 15 March 2017

The rise in smart grid technologies with the shift towards renewable energy  integration, use of natural gas, water resources, emerging usage of electric vehicles with the global need for energy saving at the same time, has led to the growth in the smart meter market.  

According to Azoth Analytics research report, “GlobalSmart Meter Market (Electricity, Gas, Water) – Analysis By Meter Type, By EndUser, By Region, By Country: Opportunities & Forecasts (2011-2022)”, Global Smart Meter Market is projected to exhibit a CAGR of 6.23% during 2016 – 2021, driven by the Advanced metering infrastructure and data management with real time energy analysis control and two way communication. On the basis of market segment, the market has been segmented into types and application of smart meters. 

Smart meters market in three major utilities electricity, gas and water are leading in the path of smart grid technologies, both in residential and commercial sectors. With the growing population and urbanization both in developed and developing countries, the energy usage is increasing, of which a comparable amount go in wastage. Also, this large amount of usage is threatening the environment with huge carbon emissions, which has been recorded to about 32381 million tonnes in 2014. 

According to World Energy Outlook 2016, by International Energy Agency, the share of renewable energy to reach 37%, growth in the demand of natural gas to 50% and 150 millions of electric vehicles on road till 2040, has led to a tremendous growth in the smart meter market. 

Among the regions, APAC remains the largest market in terms of revenue, while Europe region is expected to be the fastest growing region, owing to the Government mandated installations of smart meters in all the homes and business and large growth of renewable energy sector. Key markets in U.K. and Germany will continue to rise considering the government initiatives, renewable shift and electric vehicles.

The report GlobalSmart Meter Market (Electricity, Gas, Water) – Analysis By Meter Type, By EndUser, By Region, By Country: Opportunities & Forecasts (2011-2022) has analysed the potential of Global Smart Meter Market and provides statistics and information on market size, shares and growth factors. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with major drivers, challenges and opportunities in the global smart meter market. 



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