Smart Electric Meter Market Analysis based on
Advancement in Technology and Forecast till 2023
The report "Smart Electric Meter Market by Communication Technology Type (Radio
Frequency, Power Line Communication, and Cellular), End-User (Residential, Commercial,
and Industrial), Phase (Single Phase, and Three Phase), and Region - Global Forecast to
2023", The smart electric meter market is projected to grow from an estimated USD 9.27 Billion
in 2018 to USD 11.33 Billion by 2023, at a CAGR of 4.11%, from 2018 to 2023. The market is set to
witness growth due to the increased need for efficient data monitoring systems coupled with
favorable government policies for smart meter rollout, improved cost savings owing to the use of
smart meters making it a definitive case for adoption, and increasing emphasis on renewable
energy sources globally.
Browse 83 market data Tables and 39 Figures spread through 154 Pages and in-depth TOC
on "Smart Electric Meter Market by Communication Technology Type (Radio Frequency,
Power Line Communication, and Cellular), End-User (Residential, Commercial, and
Industrial), Phase (Single Phase, and Three Phase), and Region - Global Forecast to 2023"
https://www.marketsandmarkets.com/Market-Reports/smart-electric-meter-market-
244481146.html
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The residential segment is expected to hold the largest share of the smart electric meter
market, by end-user, during the forecast period.
The residential segment of the global smart electric meter market is expected to hold the largest
market share, and grow at the second-fastest pace during the forecast period. The installation of
smart electric meters in residential places would help in reducing the dependence on fossil fuels,
as the smart electric meters can assist the consumers to monitor, regularize, and reduce their
consumptions from the grid, and generators, and further integrate their consumptions from
renewable energy sources such as solar installations. The widespread use of sophisticated
electrical, electronic, and data equipment is driven by the growing importance of power
management solutions also driving the smart electric meter market.