SMART METER MARKET ANALYSIS

Regional Analysis

Global Smart Meter Market: Regional Analysis

On the basis of geography, the global smart meter market is segmented into North America, Europe, Latin America, Asia Pacific, the Middle East, and Africa.

North America contributed the largest share in the smart meter market due to huge market demand in the U.S. According to U.S. Energy Information Administration (EIA), in 2016, the U.S. electric utilities had around 70.8 million Advanced Metering Infrastructure (AMI) installations and around 80% of the AMI installations were residential. The country is majorly focused on upgrading and replacing outdated infrastructure of smart meter, enabling grid reliability, and installing smart power networks.

Asia Pacific is expected to witness significant growth in the smart meter market due to supportive government initiatives toward the implementation of smart meters. According to the Energy Information Administration (EIA), China exceeded the US in federal smart grid subsidies for the first time in 2010, with over US$ 7.3 billion invested compared to US$ 7.1 billion in the U.S. Growing residential sector with increasing number of water connection is in turn driving growth of smart meters market. According India Smart Utility Week 2019, Government of India plans to implement 14 smart Grid pilot projects by 2019.