Smart Meters Market Analysis based on Enhancement in
Technology and Forecast till 2022
The report "Smart Meters Market by Type (Electric, Water, and Gas), Application
(Commercial, Residential, and Industrial), Technology (Automatic Meter Reading and
Advanced Metering Infrastructure), and by Region - Global Forecasts to 2022", The smart
meters market is expected to grow from an estimated USD 12.79 Billion in 2017 to USD 19.98
Billion by 2022, registering a CAGR of 9.34% from 2017 to 2022. The global market is witnessi ng a
significant growth, which is driven by government policies, energy conservation, increasing smart
grid deployment, and utilities urge to enhance distribution efficiency.
Browse 62 market data tables and 66 figures spread through 137 pages and in-depth TOC
on "Smart Meters Market by Type (Electric, Water, and Gas), Application (Commercial,
Residential, and Industrial), Technology (Automatic Meter Reading and Advanced Metering
Infrastructure), and by Region - Global Forecasts to 2022"
https://www.marketsandmarkets.com/Market-Reports/smart-meter-366.html
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Residential – the largest smart meters market by application
The smart meters market in this report has been classified based on application, into three
segments, namely, residential, commercial, and industrial. The residential segment accounted for
the largest market size, in terms of value, in 2016. The meters measure the electricity, water, and
gas consumption and communicate this to the central utility system. The installations of these
devices in the residential sector helps in reducing CO2 emissions globally as the consumer’s
inclination towards peak time savings of energy would increase. The increasing residential
construction activities and government mandates such as the European Union 20 -20-20 policy,
which aims to convert 80% of the installed meter base to smart one, have ensured the growth in
the demand for smart meters.
“The AMR technology segment would dominate the global smart meters market”
The Automatic Meter Reading (AMR) segment was estimated to be the largest market for smart
meters in 2016. AMR is a metering technology that collects consumption dat a from the meters
and transfers it to a central database (in the utility station) for billing and other purposes (one -
way communication only). It is the initially developed smart metering technology and, hence, it