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Europe Smart Electric Meter Market to Witness Growth Acceleration by 2026

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According to the Graphical Research new growth forecast report titled “Europe Smart Electric Meter Market Size By Application (Residential, Commercial, Utility), By Technology (AMI, AMR), By Phase (Single Phase, Three Phase), Industry Analysis Report, Country Outlook (Germany, UK, France, Russia Italy, Sweden), Application Potential, Price Trend, Competitive Market Share & Forecast, 2020–2026” to Garner Significant Revenues by 2026.

Europe Smart Electric Meter Market Value is projected to witness growth on account of flourishing real estate sector and increasing industrial investments. Ability to offer flexible energy tariffs, billing accuracy and wireless communication are some of the advantages that has augmented the product demand. In addition, introduction of smart cities in line with development of Tier II & III cities will facilitate the technological adoption.

Two-way communication system, identify & isolate outages, monitor voltage and automatic electricity measurement are the key features complementing the growth of AMI technology. Digitalization of healthcare services along with increasing investment toward modernization of industries will escalate the smart electric meter market growth. In addition, surging implementation of efficient monitoring systems, IoT enabled solutions and smart devices will propel the business growth.

Commercial applications are set to grow on account of refurbishment of existing grid networks coupled with growing installation of sustainable device to control and monitor the power consumption. Rising adoption of low maintenance and energy efficient equipment for better precision in billing across public & private offices, data centers and government buildings will boost the business landscape.

Favorable government incentives & schemes along with ongoing expansion of small, medium and micro enterprises will foster the smart electric meter market size. Growing manufacturing sector along with ongoing urban area development programs will stimulate the product growth. Rising per capita income along with expansion of IoT enabled grid infrastructure will positively boost the business outlook.

Expansion of electrical networks along with introduction of micro grids will fuel the UK smart electric market growth. Flourishing tourism sector along with robust development of building infrastructure including resorts and hotels will stimulate the product deployment. In addition, wide scale utilization across logistics, hospitality and education sector will complement the industry landscape.

The major players operating across the Europe Smart Electric Meter Market comprises of Itron, Landis+Gyr, Siemens, Schneider Electric, Badger Meter, Genus, Aclara Technologies LLC, Neptune Technology, Honeywell Elster, Bentec, Kamstrup, Iskraemeco, Sensus, Circutor and Apator. New product portfolio, mergers & acquisitions and geographical expansion are some of the strategies implemented by the companies to enhance their growth opportunities.