Power Metering Market, By Type (Smart, Digital, and Analog), By Phase Type (Single-phase and Three-phase), By End User (Residential, Commercial, and Industrial), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Published In : Jul 2024

Code : CMI7137

Pages :137

Formats :

Excel and PDF

Industry : Energy

Market Concentration and Competitive Landscape

Power Metering Market Concentration By Players

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Emergence of Smart Grid Technology

The aging electrical infrastructure in many nations requires modernization to meet evolving needs. Traditional power grids are being upgraded to become smarter and more resilient. Two-way communication between utilities and end users is seen as key to the success of smart grids. It helps utilities better manage generation and load requirements. For consumers, it opens up opportunities to monitor and control usage according to preferences like opting for off-peak rates. Smart meters serve as an interface between customers and utilities in a smart grid set up. They facilitate demand response by transmitting near real-time consumption data. This enables flexible demand side management and stimulates shift to renewable sources. Utilities also gain insights into power events on distribution feeders to reduce outages. With investments growing in smart grid technologies, power metering takes on an important role in supporting reliable, efficient and cost-effective distribution of electricity. Harmonization of metering infrastructure across networks will ease the modernization efforts of grid operators over the coming years.

Key Players Insights