A
power meter is an electric device which measures energy consumption and enables
communication between the meter and the central system. The device reads and
stores data of the number of units of electricity consumed and communicates
that information back to the utility for billing and monitoring purposes. In
addition, numerous government regulations to replace aging digital meters with
smart meters are expected to push the sales in the market. Rising environmental
concerns and introducing smart meters for residential and non-residential
sector as well as high operating efficiency helps to boost the power metering
market. Adapting to the recent novel
COVID-19 pandemic, the impact of the COVID-19
on Power Metering Market is
included in the present report.
Industry Segmental Analysis
The
Power Metering Market has analyzed the market based on types, phases,
applications and the regions of North America, Europe, APAC and ROW (rest of
the world).
On
the basis of types, it includes smart, digital, analog. The smart meter is
gaining popularity and is forecast to hold a higher position in the market.
On
the basis of phases, it is segmented as single phase, triple phase.
On
the basis of applications, it is segmented as residential, commercial and
industrial. The major market is captured by the residential application, which
includes the utilization of meters in urban and rural households. The
commercial sector holding second position, is used for various commercial
places such as hospitals, schools, shopping complexes.
The
major market is captured by residential sector due to utilization of meters in
all households. Increasing construction and industrial activities along with
the replacement market of old and technologically outdated meters is the key
driver of the market. Moreover, numerous government regulations to replace
aging digital meters with smart meters are pushing the market towards growth.
Whereas, issues related to privacy and standardization of the power meter act
as barriers for the residential segment.
Prominent Players
We
recognize the key players in the global Power metering market as 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)
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NOTE:
Our Team of Researchers are Studying Covid19 and its Impact on Various Industry
Verticals and wherever required we will be considering Covid19 Footprints for
Better Analysis of Market and Industries. Cordially get in Touch for More
Details.
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