Asia Pacific Smart Electric Meter Market Value is anticipated to grow on account of flourishing real estate sector along with increasing population across the developing nations. Upsurge in disposable income along with significant improvement in living standard of people will augment the business landscape. Stringent government regulation to reduce power theft coupled with introduction of smart grid infrastructure will boost the product demand.
Residential applications will witness impetus on account of increasing population and shifting consumer focus toward deployment of energy efficient technologies. Furthermore, ongoing development of smart building solutions with enhanced efficiency to reduce electricity bills will accelerate the product demand. Favorable regulatory norms toward modernization of existing grid networks along with ongoing digitalization of power utilities will facilitate the industry growth.
Large scale integration of renewable power and expansion of micro grid networks is set to drive the AMI smart electric meter market size. Precise measurement of utility consumption data, remote access and immediate fault detection are some of the key features which will enhance the product adoption. Wide scale adoption of these meters across oil & gas, healthcare, telecom, data centers, and construction applications will accelerate the business growth.
Expansion of small, medium & micro industries coupled with supportive government incentives will encourage the installation of single phase smart electric meters. Development of IoT enabled grid networks along with integration of sustainable power infrastructure will fuel the product adoption. Ongoing electrification programs coupled with strict government directives toward limiting carbon emissions will propel the industry landscape.
Japan smart electric meter market will gain an appreciable momentum on account of rapid industrialization and extensive development across service sector. Favorable regulatory policies and government support to provide lucrative opportunities for investors will drive the industry scenario. The ongoing expansion of commercial establishments including colleges & universities, hotels, and other complexes along with growing initiatives toward smart city development programs will propel the business scenario.
Introduction of smart city projects along with the shifting trend toward the digital economy will drive the Australia smart electric meter market. Ongoing development of microgrid networks coupled with rapid expansion of distributed generation technology will spur the market growth. In addition, supportive government plans and policies to replace existing meters with smart metering units to effectively control and monitor power consumption will energize the product adoption.
The major players operating in the market includes Itron, Kamstrup, Aclara Technologies, Siemens, Honeywell Elster, Osaki Electric., Sensus, Apator, Landis+Gyr, Schneider Electric, General Electric and Larsen & Toubro. The manufacturers are launching new products and developing improved technologies to meet the competition prevailing in the industry.