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Between 2023 and 2030, the global market for power metres is projected to generate USD 35.74 billion at a CAGR of 9.51%. The value of the market in 2020 was estimated at $17.87 billion. Developing countries like India, Brazil, and South Africa are driving demand for power metres, creating massive expansion prospects for the global market. In order to increase the number of people who have access to power, governments will improve grid infrastructure by erecting more towers. Since these metres would be put in place to track energy use, their sales would be guaranteed. In addition, new promising marketing prospects for power metres are arising as a result of the rapidly expanding needs from diverse application industries and areas.
The market for electricity metres has grown and shrunk. Both procedures are affected by a wide variety of factors. Tradition is influenced by many different factors. Two crucial areas are the ever-growing market and the government's commitment to top-notch infrastructure. However, the standardisation of the power metre with regard to deterioration and privacy concerns pose substantial roadblocks to the market's development. Since the Power Metering Industry was thoroughly researched. Upgrading in the market has slowed down significantly since the beginning of the epidemic, as has been widely observed. The prolonged outage has had an effect on every facet of company, including electricity metering. People are spending less time both inside and outside the home. What this amounts to is a decision to limit your social life to the people who share your house. Manufacturing output, material acquisition, and product turnover all plummeted as a result. When there is no market for a product, the manufacturing process ceases to exist. As demand drops, prices will increase. However, things will get back to normal very shortly. The government is making an effort to improve this industry. As a result, the power metering industry is still expected to remain profitable between now and 2030.
Profit potential is high as the Power Metering Market continues to increase at a rapid rate. developed a variety of strategies and components that have been increasing sales. Several reasons have been proposed. The increasing importance placed by governments on good infrastructure, including power metering, is one reason fueling the expansion of the market. There are many other considerations, including cheap costs for maintenance, two-way communication, technological development, consideration of environmental concerns, efficiency in operation, and the ease of interpreting data metrics. The expansion of the market can be attributed to a wide variety of causes. The Power Metering Market is growing at a rapid clip due to a number of causes, but it faces significant resistance from a wide range of obstacles. The following are some of the factors that prevent or limit market growth. The privacy of individuals and the general public is at the heart of these worries. The standardising of the power metre also serves as a barrier. Changing over from an electric metre that has been in use for a long time has historically proved difficult for consumers. It takes time to switch to a new technology, but experts predict that the worldwide power market will be profitable by 2030.
A power metre is a piece of electrical equipment used to monitor the overall electricity consumption of a building or a single room. Electricity consumption may be monitored and billed accurately with the help of power metering. Because of the more precise data metrics that can be calculated, power metres are favoured over electric metres. Power metres stand apart from electric metres because to features like their attention to environmental factors, cutting-edge technology, low maintenance requirements, and two-way communication. Power metres are also quite efficient in how they do their jobs.
Increasing government investments in the power sector, technological upgrades of ageing grid infrastructures, a growing focus on lowering energy bills, and rising environmental concerns are all factors fueling the power metering market's rapid rise. As a result of their two-way communication, dependability, and minimal maintenance costs, power metering equipment is becoming increasingly popular. The widespread adoption of power metering can be attributed to the widespread appeal of the technology's several selling points, such as its ease of installation, accuracy, transparency, and real-time data feeds. In today's electrical systems, power metering equipment is a must-have. Utility providers increasingly rely on them to track consumer electricity use. Electricity distribution systems may be managed more efficiently by utility corporations when power metering is used. It ensures that regular, precise measurements of power consumption are kept. Therefore, in the following years, the market will continue to expand thanks to the rising adoption of power metering devices by energy utility providers.
Report Coverage
Global Power Metering research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Power Metering report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Power Metering competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Power Metering market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Power Metering market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Power Metering market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
General Electric (U.S.), Itron (U.S.), Toshiba Corporation (Japan), Melrose Industries plc. (U.K.), Wasion Group Holdings Ltd. (China), ABB(Switzerland), Eaton Corporation Plc (Dublin), Siemens AG (Germany) and Holley Metering (China)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Power Metering market based on the below-mentioned segments:
Global Power Metering Market, By Type
Smart
Digital
Analog
Global Power Metering market, By Application
Residential
Commercial
Industrial
Global Power Metering Market, By Phase
Single-phase
Three-phase
Global Power Metering market, Regional Analysis
The market for electricity metres has grown and shrunk. Both procedures are affected by a wide variety of factors. Tradition is influenced by many different factors. Two crucial areas are the ever-growing market and the government's commitment to top-notch infrastructure. However, the standardisation of the power metre with regard to deterioration and privacy concerns pose substantial roadblocks to the market's development. Since the Power Metering Industry was thoroughly researched. Upgrading in the market has slowed down significantly since the beginning of the epidemic, as has been widely observed. The prolonged outage has had an effect on every facet of company, including electricity metering. People are spending less time both inside and outside the home. What this amounts to is a decision to limit your social life to the people who share your house. Manufacturing output, material acquisition, and product turnover all plummeted as a result. When there is no market for a product, the manufacturing process ceases to exist. As demand drops, prices will increase. However, things will get back to normal very shortly. The government is making an effort to improve this industry. As a result, the power metering industry is still expected to remain profitable between now and 2030.
Profit potential is high as the Power Metering Market continues to increase at a rapid rate. developed a variety of strategies and components that have been increasing sales. Several reasons have been proposed. The increasing importance placed by governments on good infrastructure, including power metering, is one reason fueling the expansion of the market. There are many other considerations, including cheap costs for maintenance, two-way communication, technological development, consideration of environmental concerns, efficiency in operation, and the ease of interpreting data metrics. The expansion of the market can be attributed to a wide variety of causes. The Power Metering Market is growing at a rapid clip due to a number of causes, but it faces significant resistance from a wide range of obstacles. The following are some of the factors that prevent or limit market growth. The privacy of individuals and the general public is at the heart of these worries. The standardising of the power metre also serves as a barrier. Changing over from an electric metre that has been in use for a long time has historically proved difficult for consumers. It takes time to switch to a new technology, but experts predict that the worldwide power market will be profitable by 2030.
A power metre is a piece of electrical equipment used to monitor the overall electricity consumption of a building or a single room. Electricity consumption may be monitored and billed accurately with the help of power metering. Because of the more precise data metrics that can be calculated, power metres are favoured over electric metres. Power metres stand apart from electric metres because to features like their attention to environmental factors, cutting-edge technology, low maintenance requirements, and two-way communication. Power metres are also quite efficient in how they do their jobs.
Increasing government investments in the power sector, technological upgrades of ageing grid infrastructures, a growing focus on lowering energy bills, and rising environmental concerns are all factors fueling the power metering market's rapid rise. As a result of their two-way communication, dependability, and minimal maintenance costs, power metering equipment is becoming increasingly popular. The widespread adoption of power metering can be attributed to the widespread appeal of the technology's several selling points, such as its ease of installation, accuracy, transparency, and real-time data feeds. In today's electrical systems, power metering equipment is a must-have. Utility providers increasingly rely on them to track consumer electricity use. Electricity distribution systems may be managed more efficiently by utility corporations when power metering is used. It ensures that regular, precise measurements of power consumption are kept. Therefore, in the following years, the market will continue to expand thanks to the rising adoption of power metering devices by energy utility providers.
Report Coverage
Global Power Metering research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Power Metering report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Power Metering competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Power Metering market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | General Electric (U.S.), Itron (U.S.), Toshiba Corporation (Japan), Melrose Industries plc. (U.K.), Wasion Group Holdings Ltd. (China), ABB(Switzerland), Eaton Corporation Plc (Dublin), Siemens AG (Germany) and Holley Metering (China) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Power Metering Market from 2021 to 2030.
- Market Forecast for Power Metering Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Power Metering competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Power Metering
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Power Metering market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Power Metering market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
General Electric (U.S.), Itron (U.S.), Toshiba Corporation (Japan), Melrose Industries plc. (U.K.), Wasion Group Holdings Ltd. (China), ABB(Switzerland), Eaton Corporation Plc (Dublin), Siemens AG (Germany) and Holley Metering (China)
Primary Target Market
- Market Players of Power Metering
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Power Metering market based on the below-mentioned segments:
Global Power Metering Market, By Type
Smart
Digital
Analog
Global Power Metering market, By Application
Residential
Commercial
Industrial
Global Power Metering Market, By Phase
Single-phase
Three-phase
Global Power Metering market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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