GLOBAL ELECTRIC SUB METER MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
Global electric sub meter market growth is driven by growing need for effective energy management across residential and commercial buildings. Electric sub meters help in allocating electricity costs for individual units in multi-tenant commercial complexes and housing societies with high degree of precision. These allow property owners and managers to effectively bill tenants for their actual electricity consumption. This helps in curbing wastage and encourages energy conservation among tenants. Moreover, electric sub meters help utilities in remote meter reading and disconnection/reconnection of power supply without physical access, thus, improving operational efficiency. With growing urbanization and rising construction of multi-tenant buildings, there will be huge demand for electric sub meters in the near future.
Market Dynamics:
Global electric sub meter market growth is driven by factors such as rapid urbanization leading to rise in construction of multi-tenant residential and commercial buildings, need for effective energy management to reduce costs and optimize power consumption, and stringent government regulations mandating installation of sub meters in multi-unit complexes. However, high initial installation and infrastructure upgrade costs can hamper the market growth. Growing adoption of smart electric sub meters with advanced wireless communication capabilities offers lucrative opportunities for market players. Integration of IoT and AI functionalities in smart electric sub meters can also boost their demand.
Key features of the study:
- This report provides in-depth analysis of the global electric sub meter market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global electric sub meter market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Aclara Technologies LLC, Apator Group, Badger Meter, Inc., Diehl Stiftung & Co. KG, Eaton Corporation plc, Elster Group GmbH (Honeywell), General Electric Company, Holley Metering Limited, Itron Inc., Kamstrup A/S, Landis+Gyr AG, Legrand SA, Mitsubishi Electric Corporation, Schneider Electric SE, and Siemens AG
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- Global electric sub meter market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global electric sub meter market
Detailed Segmentation-
Detailed Segmentation-
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