Global Power Metering Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Power Metering Market 2021 (Includes Business Impact of COVID-19)
Global Power Metering Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2030 is a recent report generated by Trusted Business Insights. The global power metering market report has been segmented on the basis of type, phase, application, and region.
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The global Power Metering market size was valued at USD $32.00 billion in 2020 and is projected to reach USD $76.94 billion by 2030, and is anticipated to expand at a CAGR of 18.40% over the forecast period from 2020 to 2030.


Global Power Metering Market: Overview


Power meter is a device installed to measure electricity consumption and also supports for accurate reading and relevant data metrics. It allows uni as well as bi-directional communication between meter and the central system and also offers numerous advantages such as energy savings, pre-payment facilities, fraud detection, and information on peak consumption hours.

According to the report Emerging Markets Smart Grid: Outlook 2015, electricity theft was costing approximately US$ 83.9 Bn each year worldwide.


Global Power Metering Market: Dynamics


Increasing emphasis on technological advancement or upgradation of old grid infrastructure, along with environmental concerns are expected to bolster demand for power meters and projected to drive growth of the target market over the forecast period. Also, low maintenance cost and two-way communication as compared to traditional meters are some factors projected to boost growth of the target market over the forecast period. Additionally, governments initiatives regarding deployment of smart grid network and installing more power grids across the globe are some major factors projected to drive growth of the target market.

Recent trend observed in the target market is government in various countries are focusing to replace older or aging energy meters with smart meters

However, issues related to privacy and standardization are some factors expected to restrain growth of the global market over the forecast period.


Global Power Metering Market: Segment Analysis


Among the type segments, the smart meter segment is estimated to hold significant share in the market over the forecast period.

Among the phase segment, the three phase segment is projected to dominates the global market and estimated to witness significant growth over the forecast period.

Among the application segments, the residential segment is anticipated to accounts for largest market share during the forecast period.


Global Power Metering Market: Region Analysis


The market in the Asia Pacific is projected to dominates the global power metering market in terms of revenue, owing to increasing building and construction activities, along with growing infrastructure and government projects in countries such as China and India. Government project such as smart city in India also anticipated to propel growth of the market in the region. Moreover, rapid urbanization and growing service sector are estimated to create greater opportunities in the power metering market. Developing countries such as China and India has introduced smart grid plans to meet the increasing electricity demand and reduce transmission and distribution losses, which is giving a new way for growth of the target market.

The market in North America is expected to accounts for major share in the global power metering market in terms of revenue. Emphasizing on deployment of advanced smart grid solutions in this region is major factors driving growth of the North America power metering market. According to paper published by US International Trade Commission, in North America smart meters deployment reached around 70 Mn in 2016 and is estimated to reach 90 Mn by the end of 2020.


Below are the active patents related to Power Metering Market.


Patent Number: US7058524B2

Electrical power metering system

Abstract

A wireless electrical power metering system is provided. A processor having a multichannel power line transceiver, a wireless transceiver, and a power meter attached thereto measures power consumption information on a power line inductively coupled with the power meter. The processor converts the power consumption information into IP-based data, and transmits same over the wireless transceiver. The information can be wirelessly received by a remote monitoring station or transmitted across the Internet for storage, analysis, and billing. The processor generates appliance control signals and generates same across the multichannel power line transceiver to remotely control appliances in response to power consumption trends. The processor provides firewall capabilities, and relays information between a wired or wireless network and a power line network, thereby expanding the size of existing household networks. Further, the processor allows multiple dwellings to be networked using power lines, and households to be connected to the Internet via a power line network.

Application filed Date: 2002-10-25

Application Granted Date: 2006-06-06

Current Assignee: Hudson Bay Wireless LLC

Patent Number: EP2741054A1

Smart-Meter

Abstract

The smart meter (1) has a primary circuit that is provided with connections for three-phase alternating current (AC). An operating side (4) of secondary circuit is arranged with data communication interface (5, 6). A measuring circuit with a smart metering microchip is provided between the primary circuit and the secondary circuit. The measuring circuit in relation with the primary circuit and secondary circuit has insulation with specific dielectric strength. The secondary circuit relative to the primary circuit has a specific insulation.

Application filed Date: 2013-11-11

Application granted Date:2017-07-19

Current Assignee: TQ Systems GmbH

Patent Number: US20130123997A1

Smart meters, and systems and method for electrical power reconnection

Abstract

An electrical power system having an electricity meter connected to power lines on one side and a load on the other side, the electricity meter having a processor and memory, a communications module, a sensor, and a service disconnect switch. The system has a communications and control system adapted to send information to the electricity meter and receive information from the electricity meter. The service disconnect switch is locally operable based on a preprogrammed time delay stored in the memory of the electricity meter to restore power in a controlled fashion following a power outage. Electricity meters and electricity reconnection methods are described, as are other aspects.

Application filed Date:2012-11-13

Application granted Date:2015-12-15

Current Assignee: Siemens AG

Global Power Metering Market Segmentation:

Segmentation by Type:

  
Smart Meter
  
Digital Meter
  
Analog Meter

Segmentation by Phase:

  
Single Phase
  
Three Phase

Segmentation by Application:

  
Commercial
  
Industrial
  
Residential


Key Market Players included in the report:


  
ABB
  
Aclara Technologies LLC
  
Eaton
  
General Electric (U.S.)
  
Holley Metering
  
Honeywell International Inc.
  
Itron (U.S.)
  
Jiangsu Linyang Electronics Co. Ltd.
  
Kamstrup A/S
  
Melrose Plc. (U.K.)
  
Schneider Electric
  
Sensus
  
Siemens AG
  
Toshiba Energy Systems & Solutions Corporation
  
Wasion Group Holdings Ltd. (China)