China is poised to register the fastest compounded annual growth rate of 9.1% over the analysis period, to reach US$1.8 Billion by the close of the analysis period. Global market for Three-Phase Smart Meters is estimated at US$2.7 Billion in 2020, and is projected to reach US$4.1 Billion by 2026 reflecting a compounded annual growth rate of 7.9% over the analysis period.Ĭhina constitutes the largest regional market for Three-Phase segment, accounting for 36.0% of the global sales in 2020. Three-Phase Smart Meters to Reach $4.1 Billion by 2026 The big difference and selling point of a smart meter is that it takes meter readings and sends them to your energy provider automatically at regular intervals. Just like traditional gas and electricity meters, they measure your energy consumption to calculate your bill. Your utility bill usually shows what you are charged. A smart meter is the newest energy meter to enter the market.
One thousand watt-hours equals 1 kilowatt-hour (kWh). Smart meters have two-way communication, which enable to track utility usage in real time by. When you use electricity to power a 100-watt light bulb for 10 hours, you use 1,000 watt-hours (1,000 Wh) of electricity. Smart meters for power, gas, and water are spreading worldwide.
One thousand Watts are called a kilowatt.
SMART UTILITY METER INSTALL
In the coming years, the growth of smart electricity meters market will be driven by the increasing need for products and services that enable energy conservation government initiatives to install smart electric meters in order to address issues of energy requirement the ability of smart electric meters to prevent energy losses due to theft and fraud, and to reduce the costs involved in manual data collection increasing investments in smart grid establishments the growing trend of integration of renewable sources to existing power generation grids rising T&D upgrade initiatives especially in developed economies increasing investments into construction of commercial establishments such as educational institutions and banking institutions in both developing and developed economies and emerging growth opportunities in Europe with the ongoing rollouts of smart electricity meter rollouts in countries such as Germany, the UK, France, and Spain. The basic unit of measure of electric power is the Watt. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Three-Phase segment is readjusted to a revised 7.9% CAGR for the next 7-year period. Single-Phase, one of the segments analyzed in the report, is projected to record 6.2% CAGR and reach US$11.9 Billion by the end of the analysis period. The global market for Smart Electricity Meters estimated at US$10.5 Billion in the year 2020, is projected to reach a revised size of US$15.2 Billion by 2026, growing at a CAGR of 6.7% over the analysis period.įor utilities aiming to modernize their grid operations with advanced solutions, smart electricity meters have emerged as an effective tool that can flawlessly address their various energy T&D needs in a simple and flexible manner. Global Smart Electricity Meters Market to Reach $15.2 Billion by 2026 Smart Meters enable a utility to provide customers with detailed information about their energy usage at different times of the day, which in turn enables. It does not store any personal data.DUBLIN, Ap/PRNewswire/ - The "Smart Electricity Meters - Global Market Trajectory & Analytics" report has been added to 's offering. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. The cookie is used to store the user consent for the cookies in the category "Performance". This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. The cookies is used to store the user consent for the cookies in the category "Necessary". The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". The cookie is used to store the user consent for the cookies in the category "Analytics". Suppliers are installing them as part of a national government programme to replace older energy. This cookie is set by GDPR Cookie Consent plugin. Smart meters are the new generation of energy meters. These cookies ensure basic functionalities and security features of the website, anonymously.
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