Global Power Management Meters Market to 2023: A $19.7 Billion Opportunity - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Sep 11, 2018--The “Power Management Meters Market - Forecasts from 2018 to 2023” report has been added to ResearchAndMarkets.com’s offering.
The power metering market is projected to grow at a CAGR of 7.66% to reach US$19.708 billion in 2023 from US$12.655 billion in 2017.
Increasing population coupled with increasing demand for electricity is driving the overall growth for power metering market across the geographic regions.
Moreover, increasing electricity theft along with less payment of electricity bills due to tampered or faulty traditional meters in developing regions is boosting the demand for smart power metering systems.
The market is also driven by the increasing installation of solar roof-top on residential, commercial, and industrial buildings.
Furthermore, smart power meters are very much essential in improving the energy efficiency. Distribution companies are installing smart meters in residential complexes so as to reduce the wastage of power during peak hours by switching some of the appliances off remotely.
However, market for power metering will be restrained in developing countries owing to public oppositions with implementation of smart meters.
Moreover, high costs associated with the installation of smart meters will impede its market growth during the forecast period.
Despite these market growth restraints, various opportunities lie with this market. Continuous development in smart grid technology along with the implementation of sub-metering allow measurement of individual unit consumption.
North America and Europe hold a significant share of the global power metering market owing to the developed economy, and early and rapid adoption of advanced technologies.
Asia Pacific will witness the fastest growth in power metering during the forecast period owing to the increasing enhancement in the grid infrastructure coupled with increasing residential, commercial, and industrial complexes. Moreover, modernization of traditional power meters with smart and efficient meters will augment its market growth in Asia Pacific.
Key Topics Covered
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Power Metering Market by Type
6. Power Metering Market by Phase
7. Power Metering Market by End-User
8. Paper Packaging Market by Geography
9. Competitive Intelligence
10. Company ProfilesSiemens AG ABB Group Schneider Electric Toshiba Energy Systems & Solutions Corporation Aclara Technologies LLC Honeywell International Inc. Kampstrup A/S Xylem Inc. Eton Itron Inc.
For more information about this report visit https://www.researchandmarkets.com/research/qkvnp4/global_power?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180911005611/en/
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SOURCE: Research and Markets
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PUB: 09/11/2018 12:04 PM/DISC: 09/11/2018 12:04 PM