This global market research report segments the prepaid metering market by application (hardware, software, and services), by end users (commercial, industrial, and residential), and by geography (Americas, EMEA, and APAC). Leading vendors analyzed in this market study are GE Digital Energy, Itron, Landys+Gyr, Schneider Electric, and Siemens Energy.
Technavio has released updated information on the meter market, with the publication of its new market research report, global power prepaid metering market. The global power prepaid metering market is expected to grow at a CAGR of more than 11% between 2015 and 2019. Factors like recent technological innovations and increasing support from the regulatory authorities are propelling this market’s positive growth. APAC dominates the global market for prepaid metering, accounting for around 48% of the total market revenue. The growing need to replace traditional electromechanical meters with electronic and prepaid meters is a critical factor that bolsters growth in this region.
“Both the power utilities as well as customers have accepted the concept of prepaid meters owing to the several benefits associated with it. Customer friendly in-home displays and mobile based applications of these meters make the consumption data and balance information easily accessible. These meters benefit utilities by reduce the accounts receivable and increase cash flow and liquidity. Also, flexibility in the payment channels has improved customer experience through the pay-as-you-go benefit,” says Navin Rajendra, Lead Analyst, Energy, Technavio Research.
The residential users dominate the prepaid metering market, by occupying around 78% of the total market revenue. Much of this segment’s growth comes from the urgency to complete meter installations before the expiry of grants permitted to residential customers. The increase in power thefts and tampering of meter has pushed the commercial users like shops, outlets, malls to adopt prepaid meters.
The major players in the global power prepaid metering market include GE Digital Energy, Itron, Landys+Gyr, Schneider Electric, and Siemens Energy. This market is expected to grow steadily during the forecast period and is positively influenced by the increasing implementation of smart metering technology. The major vendors in this market, such as Landis+ Gyr and Siemens Energy, are facing intense competition from smaller vendors as they provide region-based services to customers.
A more detailed analysis is available in the Technavio report, Global Power Prepaid Metering Market 2015-2019.
We can customize this reports by other regions and specific segments upon request.
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