Digital Power Meter – Market Trends, Drivers, and Growth Prospects until 2021

Renewable energy

According to Technavio’s latest market research study, the global digital power meter market is expected to grow at a CAGR of close to 5% during the forecast period, 2017-2021.

This report by Technavio provides an in-depth analysis of the global digital power meter market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.

Technavio research analysts categorize the market based on the end-user type

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Global residential digital power meter market: Factors such as rising initiatives taken by the respective legislative bodies across countries to implement smart metering in residential spaces, the growing proposals for the establishment of smart grids on a regional level, and the mandates regarding the replacement of traditional analog installed meters drive the growth of the global residential digital power meters market. For instance, Beijing in China is expected to witness 100% deployment of smart meters in residences by the end of 2017.

The adoption of smart grids and smart meters is currently on the rise. The rise in demand for smart power meters from residential consumers is expected to propel the demand for residential digital power meters in the residential consumer segment in the global market.,” says Mantri Charan Kumar, a lead analyst at Technavio for research on outdoor gear.

Global commercial digital power meter market: The global commercial digital power meter market is driven by the need for energy savings in commercial buildings that consume large volumes of electricity such as schools, hospitals, restaurants, and shopping. Besides cost savings, conserving electricity also helps commercial buildings earn environmental ratings which can improve the social image or outlook of such buildings and establishments.

Global industrial digital power meter market: The demand for digital power meters from the industrial segment is fueled by the rapidly-growing manufacturing sector. Emerging regions like South Korea, Mexico, Turkey, Indonesia, and Saud Arabia are considered as prime locations for manufacturing assembly. In APAC, large-scale manufacturers are emerging as dominant players in the supply chains. Many government initiatives across the region are also adding to the growth of the industrial sector.

The top vendors operating in the global digital power meter market are:

  • Itron
  • Landis+Gyr
  • Schneider Electric
  • Sensus

Other prominent vendors in the market include Advanced Electronics Company, EKM Metering, Elster Group (owned by Honeywell), Holley Metering, Jiaxing Eastron Electronic Instruments, Kamstrup, LINYANG Energy, Murata Power Solutions, and Simpson Electric.

A more detailed analysis is available in the Technavio report titled, ‘Global Digital Power Meter Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.

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