Digital Power Meter Market Size & Share, by Phase Type (Single Phase, Three Phase); Product Type (Digital, Electrical, Electromechanical, Electronic); Technology (Radio Frequency, Power Line Communication, Cellular); Application (Residential, Commercial, Industrial) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035
Sensus Worldwide Holdings Ltd has joined hands with GreyStone Power Corporation to start a smart utility network and deploy 120,000 new Stratus IQ smart digital residential electricity meters. These meters are expected to deliver higher speed and provide enhanced reliability in delivering energy use data.
Landis+Gyr Group AG has agreed with WEC Energy Group to expand the Advanced Metering Infrastructure (AMI) coverage for gas and electric meters. The new agreement includes the deployment of 210,000 G480 ultrasonic gas meters, 750,000 AMI gas modules, and 204,000 advanced electric meters.
Author Credits: Payel Roy, Dhruv Bhatia
Report ID: 5043
Published Date: Jun 17, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
Increasing demand for electricity and rapid industrialization are some of the factors that are estimated to bring lucrative growth opportunities for market growth.
The market size of digital power meters is anticipated to attain a CAGR of ~12% over the forecast period, i.e., 2023 â€“ 2035.
The major players in the market are Sensus Worldwide Holdings Ltd, Landis+Gyr Group AG, Siemens Aktiengesellschaft, Kamstrup A/S, SAMI Advanced Electronics, Murata Manufacturing Co., Ltd., Simpson Electric, Schneider Electric, General Electric Company, HPL Electric & Power Ltd, and other key players.
The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by phase type, application, product type, technology, and by region.
The residential segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Rising concern about cybersecurity along with the requirement of high investments and the unavailability of a skilled workforce is estimated to be the growth hindering factors for the market expansion.
The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.