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European Smart Electric Meter Market revenue to witness remarkable growth till 2027
Published Date: 2021-09-27
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European Smart Electric Meter Market size is predicted to grow substantially from 2021 to 2027, according to a latest forecast report by Graphical Research.
The Market growth is anticipated to rise owing to growing investments toward smart grid deployment and integration of smart grid infrastructure with renewable energy. Smart electric meters can easily record data such as energy consumption, voltage levels along with current & power factor. In addition, increasing household income, continuous developments & industrialization will stimulate revenue for the market.
COVID- 19 has affected an several projects including the construction & renovation prevailing infrastructures coupled with development of smart homes impacting smart electric meter industry growth. However, ongoing robust development of building infrastructure and large-scale use in the logistics, education sectors and hospitality will propel the industry outlook.
Ongoing industrialization along with increasing urbanization and economic development will fuel the market growth. Strict government regulations regarding expansion of existing grid infrastructure coupled with reduction of electricity theft will augment the market demand. Introduction of favorable regulatory policies to replace conventional meters with smart metering systems for effective monitoring and regulating energy consumption will further promote industry prospects.
Browse detailed statistical insights from the report, “Europe Smart Electric Meter Market Forecast 2027 By Technology (AMI, AMR), By Application (Residential, Commercial, Utility), By Phase (Single Phase, Three Phase), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
Fault identification & isolation, two-way communication system, voltage monitoring & automatic electricity measurement will complement the growth of AMI technology. Rising investments toward industrial modernization along with the digitization of healthcare services will accelerate the smart electric meter business spectrum. Moreover, large scale implementation of efficient surveillance systems, smart devices and IoT-enabled solutions will stimulate market growth.
The commercial applications segment will gain remarkable momentum during the forecast timeline due to renovation of existing distribution networks coupled with the increasing installation of durable devices to control and monitor energy consumption. The growing adoption of low-maintenance, energy-efficient equipment for improved billing accuracy in public and private offices, data centers and government buildings will boost the market revenue.
Ongoing expansion of small, medium & micro enterprises as well as favorable government schemes and programs will accelerate the market size. Urban development programs along with rising manufacturing sector will augment the industry growth. Growing per capita income as well as expansion of IoT-enabled grid infrastructure will positively influence the business prospects.
Introduction of micro-grids combined with expansion of power grids will propel the growth of UK smart electric meter industry. For instance, in 2020, UK installed its first three-phase new gen SMETS2 smart electric meters for its domestic and business sectors. This second-generation smart electric meter will enable the customers to connect directly to secure nationwide Data Communications Company for easy switching between energy suppliers across the country.
The smart electric meter in European market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2016 to 2027 for the following segments:
Europe Market, By Application
- Single family
- Multi family
- Logistics & transportation
Europe Market, By Technology
Europe Market, By Phase
The above information has been provided for the following countries: