Smart Meters Market Research Report – Forecast to 2027

Smart Meters Market Research Report By Type (Electric Meters, Gas Meters and Water Meters), By Technology (Automatic Meter Reading (AMR) and Advanced Metering Infrastructure (AMI)), By Application (Residential, Commercial and Industrial) – Forecast to 2027

ID: MRFR/E&P/3150-CR | October 2020 | Region: Global | 117 pages

Impact of Covid-19 Outbreak on Smart Meter Market
Smart Meter Market


Source: Primary Experts, Secondary Sources, and MRFR Analysis


COVID-19 pandemic has reduced the profitability of businesses across all the industries. Although the power sector has not been as negatively affected compared to other sectors, the electricity consumption by industrial and commercial customers is noticeably less. Moreover, the power sector has witnessed a falling demand and price reduction trend across the world. Various regions, including many European countries, are heavily impacted and have recorded all-time low electricity prices in the first quarter of FY’2020. Moreover, due to the severity of the COVID-19 outbreak, many industries are only focusing on essential work. This has resulted in a pause on electric component installations. Manufacturers of hardware devices in the smart grid market are facing several issues related to order closures due to global lockdown. For instance, Con Edison (US) has halted all meter readings and installations of smart meters in the US. Additionally, in March, Fitch Ratings revised the outlook for ConEdison’s revenue growth. The revised outlook shows weakened credit metrics for the company. The revenue of the company has been impacted by reduced kilowatt-hour sales and escalation of bad debt expense.


FIGURE:  SMART METER INSTALLATION IN THE US FROM 2012 TO 2020
SMART METER INSTALLATION IN


Source: EIA and Smartenergy.org


Utilities across the globe have announced the suspension of disconnection due to non-payment and delayed payment plans of customers impacted by the outbreak, which is resulting in earning downgrades. Lockdowns in most cities are expected to continue to curb the electricity demand, hampering the sales of utilities and other companies operating in the power sector. For instance, ABB (Switzerland), one of the global market leaders in the power industry, has also indicated that it is expected to face a decline in profitability in 2020 due to lower production volumes in all its businesses compared to the sales volume in 2019.

1 Executive Summary

2 Introduction

2.1 Definition 15

2.2 Scope Of The Study 15

2.3 Assumptions 15

2.4 Market Structure 16

3 Research Methodology

3.1 Research Process 17

3.2 Primary Research 18

3.3 Secondary Research 18

3.4 Market Size Estimation 18

3.5 Forecast Model 20

4 Market Dynamics

4.1 Drivers 22

4.1.1 Growing Investment In Smart Grid Projects 22

4.1.2 Supportive Government Initiatives 22

4.1.3 Demand/Needs For Efficient Energy Usage 24

4.2 Restraint 24

4.2.1 High Initial Capital Investment 24

4.2.2 Lack Of Awareness 24

4.3 Opportunities 25

4.3.1 Scope In The Developing Nations 25

4.3.2 Technological Development 25

5 Market Factor Analysis

5.1 Porter's Five Forces Analysis 26

5.1.1 Threat Of New Entrants 27

5.1.2 Bargaining Power Of Suppliers 27

5.1.3 Bargaining Power Of Buyers 27

5.1.4 Threat Of Substitutes 27

5.1.5 Rivalry 27

5.2 Supply Chain Analysis 28

6 Global Smart Meters Market, By Type

6.1 Overview 31

6.1.1 Electric Meters 33

6.1.2 Gas Meters 33

6.1.3 Water Meters 33

7 Global Smart Meters Market, By Technology

7.1 Overview 35

7.1.1 Automatic Meter Reading (AMR) 36

7.1.2 Advanced Metering Infrastructure (AMI) 36

8 Global Smart Meters Market, By Application

8.1 Overview 38

8.1.1 Residential 39

8.1.2 Commercial 40

8.1.3 Industrial 40

9 Global Smart Meters Market, By Region

9.1 Introduction 42

9.2 North America 44

9.2.1 U.S. 47

9.2.2 Canada 49

9.3 Europe 51

9.3.1 Germany 54

9.3.2 U.K. 56

9.3.3 France 58

9.3.4 Spain 60

9.3.5 Rest Of Europe 62

9.4 Asia Pacific 64

9.4.1 China 67

9.4.2 Japan 69

9.4.3 India 72

9.4.4 Rest Of Asia Pacific 74

9.5 Rest Of The World 76

9.5.1 South America 79

9.5.2 Middle East & Africa 81

10 Competitive Scenario

10.1 Overview 83

10.2 Global Smart Meters Market Shares Of Top 5 Players 84

10.3 Competitors Benchmarking 85

10.4 Major Project By Key Players 86

10.4.1 Schiender Electric 86

10.4.2 Honeywell 87

10.4.3 Landis+Gyr 87

10.4.4 Aclara Technologies LLC 87

10.4.5 DIEHL Metering 88

10.4.6 Xylem 88

10.4.7 Badger Meter, Inc. 88

10.4.8 EDMI 88

10.4.9 Kamstrup A/S 88

11 Company Profile

11.1 Schneider Electric 89

11.1.1 Company Overview 89

11.1.2 Financial Overview 89

11.1.3 Product/Service Offering 90

11.1.4 Strategy 91

11.1.5 Key Developments 91

11.1.6 SWOT Analysis 91

11.2 Siemens AG 92

11.2.1 Company Overview 92

11.2.2 Financial Overview 92

11.2.3 Service Offering 93

11.2.4 Strategy 93

11.2.5 Key Developments 94

11.2.6 SWOT Analysis 94

11.3 LANDIS+GYR 95

11.3.1 Company Overview 95

11.3.2 Financial Overview 95

11.3.3 Product/Service Offering 96

11.3.4 Strategy 96

11.3.5 Key Developments 97

11.3.6 SWOT Analysis 97

11.4 Xylem Inc. 98

11.4.1 Company Overview 98

11.4.2 Financial Overview 98

11.4.3 Product/Service Offering 99

11.4.4 Strategy 100

11.4.5 Key Developments 100

11.4.6 SWOT Analysis 101

11.5 Honeywell International Inc. 102

11.5.1 Company Overview 102

11.5.2 Financial Overview 102

11.5.3 Product/Service Offering 103

11.5.4 Strategy 103

11.5.5 Key Developments 104

11.5.6 SWOT Analysis 104

11.6 Aclara Technologies LLC 105

11.6.1 Company Overview 105

11.6.2 Financial Overview 105

11.6.3 Product/Service Offering 105

11.6.4 Strategy 105

11.6.5 Key Developments 106

11.7 Badger Meter, Inc. 107

11.7.1 Company Overview 107

11.7.2 Financial Overview 107

11.7.3 Product/Service Offering 108

11.7.4 Strategy 108

11.7.5 Key Developments 109

11.8 Itron, Inc. 110

11.8.1 Company Overview 110

11.8.2 Financial Overview 110

11.8.3 Product/Service Offering 111

11.8.4 Strategy 112

11.9 EDMI 113

11.9.1 Company Overview 113

11.9.2 Financial Overview 113

11.9.3 Product/Service Offering 114

11.9.4 Strategy 114

11.9.5 Key Developments 115

11.10 Apator S.A. 116

11.10.1 Company Overview 116

11.10.2 Financial Overview 116

11.10.3 Product/Service Offering 117

11.10.4 Strategy 117

11.10.5 Key Developments 117

11.11 DIEHL METERING GMBH 118

11.11.1 Company Overview 118

11.11.2 Financial Overview 118

11.11.3 Product/Service Offering 118

11.11.4 Strategy 119

11.11.5 Key Developments 119

11.12 Zenner 120

11.12.1 Company Overview 120

11.12.2 Financial Overview 120

11.12.3 Product/Service Offering 120

11.12.4 Strategy 121

11.12.5 Key Developments 121

11.13 Kamstrup A/S 122

11.13.1 Company Overview 122

11.13.2 Financial Overview 122

11.13.3 Product/Service Offering 123

11.13.4 Strategy 123

11.13.5 Key Developments 124

12 List Of Tables

TABLE 1 MARKETSSS SYNOPSIS 14

TABLE 2 GLOBAL SMART METERS MARKET, BY TYPE, 2020-2027 (USD MILLION) 32

TABLE 3 GLOBAL SMART METERS MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 36

TABLE 4 GLOBAL SMART METERS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 39

TABLE 5 GLOBAL SMART METERS MARKET, BY REGION, 2020-2027 (USD MILLION) 43

TABLE 6 NORTH AMERICA: SMART METERS MARKET, BY COUNTRY, 2020-2027 (USD MILLION) 44

TABLE 7 NORTH AMERICA: SMART METERS MARKET, BY TYPE, 2020-2027 (USD MILLION) 45

TABLE 8 NORTH AMERICA: SMART METERS MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 46

TABLE 9 NORTH AMERICA: SMART METERS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 46

TABLE 10 U.S.: SMART METERS MARKET, BY TYPE, 2020-2027 (USD MILLION) 47

TABLE 11 U.S.: SMART METERS MARKET SIZE, BY TECHNOLOGY, 2020-2027 (USD MILLION) 48

TABLE 12 U.S.: SMART METERS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 48

TABLE 13 CANADA: SMART METERS MARKET, BY TYPE, 2020-2027 (USD MILLION) 49

TABLE 14 CANADA: SMART METERS MARKET SIZE, BY TECHNOLOGY, 2020-2027 (USD MILLION) 50

TABLE 15 CANADA: SMART METERS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 50

TABLE 16 EUROPE: SMART METERS MARKET, BY COUNTRY, 2020-2027 (USD MILLION) 51

TABLE 17 EUROPE: SMART METERS MARKET, BY TYPE, 2020-2027 (USD MILLION) 52

TABLE 18 EUROPE: SMART METERS MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 53

TABLE 19 EUROPE: SMART METERS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 53

TABLE 20 GERMANY: SMART METERS MARKET, BY TYPE, 2020-2027 (USD MILLION) 54

TABLE 21 GERMANY: SMART METERS MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 55

TABLE 22 GERMANY: SMART METERS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 55

TABLE 23 U.K.: SMART METERS MARKET, BY TYPE, 2020-2027 (USD MILLION) 56

TABLE 24 U.K.: SMART METERS MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 57

TABLE 25 U.K.: SMART METERS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 57

TABLE 26 FRANCE: SMART METERS MARKET, BY TYPE, 2020-2027 (USD MILLION) 58

TABLE 27 FRANCE: SMART METERS MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 59

TABLE 28 FRANCE: SMART METERS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 59

TABLE 29 SPAIN: SMART METERS MARKET, BY TYPE, 2020-2027 (USD MILLION) 60

TABLE 30 SPAIN: SMART METERS MARKET SIZE, BY TECHNOLOGY, 2020-2027 (USD MILLION) 61

TABLE 31 SPAIN: SMART METERS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 61

TABLE 32 REST OF EUROPE: SMART METERS MARKET, BY TYPE, 2020-2027 (USD MILLION) 62

TABLE 33 REST OF EUROPE: SMART METERS MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 63

TABLE 34 REST OF EUROPE: SMART METERS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 63

TABLE 35 ASIA PACIFIC: SMART METERS MARKET, BY COUNTRY, 2020-2027 (USD MILLION) 65

TABLE 36 ASIA PACIFIC: SMART METERS MARKET, BY TYPE, 2020-2027 (USD MILLION) 66

TABLE 37 ASIA PACIFIC: SMART METERS MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 66

TABLE 38 ASIA PACIFIC: SMART METERS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 67

TABLE 39 CHINA: SMART METERS MARKET, BY TYPE, 2020-2027 (USD MILLION) 68

TABLE 40 CHINA: SMART METERS MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 69

TABLE 41 CHINA: SMART METERS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 69

TABLE 42 JAPAN: SMART METERS MARKET, BY TYPE, 2020-2027 (USD MILLION) 70

TABLE 43 JAPAN: SMART METERS MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 71

TABLE 44 JAPAN: SMART METERS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 71

TABLE 45 INDIA: SMART METERS MARKET, BY TYPE, 2020-2027 (USD MILLION) 72

TABLE 46 INDIA: SMART METERS MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 73

TABLE 47 INDIA: SMART METERS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 73

TABLE 48 REST OF ASIA PACIFIC: SMART METERS MARKET, BY TYPE, 2020-2027 (USD MILLION) 74

TABLE 49 REST OF ASIA PACIFIC: SMART METERS MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 75

TABLE 50 REST OF ASIA PACIFIC: SMART METERS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 75

TABLE 51 ROW: SMART METERS MARKET, BY COUNTRY, 2020-2027 (USD MILLION) 76

TABLE 52 ROW: SMART METERS MARKET, BY TYPE, 2020-2027 (USD MILLION) 77

TABLE 53 ROW: SMART METERS MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 78

TABLE 54 ROW: SMART METERS MARKET, BY APPLICATION, 2020-2027 (USD MILLIONS) 78

TABLE 55 SOUTH AMERICA: SMART METERS MARKET, BY TYPE, 2020-2027 (USD MILLION) 79

TABLE 56 SOUTH AMERICA: SMART METERS MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 80

TABLE 57 SOUTH AMERICA: SMART METERS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 80

TABLE 58 MIDDLE EAST & AFRICA: SMART METERS MARKET, BY TYPE, 2020-2027 (USD MILLION) 81

TABLE 59 MIDDLE EAST & AFRICA: SMART METERS MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 82

TABLE 60 MIDDLE EAST & AFRICA: SMART METERS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 82

TABLE 61 APATOR S.A.: KEY DEVELOPMENTS, 2020 117


13 List Of Figure

FIGURE 1 RESEARCH PROCESS OF MRFR 17

FIGURE 2 TOP DOWN & BOTTOM UP APPROACH 19

FIGURE 3 DRIVERS & RESTRAINTS IMPACT ANALYSIS OF GLOBAL SMART METERS MARKET 21

FIGURE 4 NUMBER OF SMART METERS INSTALLED IN GREAT BRITAIN (Q1 2013-Q4 2020) 23

FIGURE 5 PORTER'S FIVE FORCES ANALYSIS OF GLOBAL SMART METERS MARKET 26

FIGURE 6 SUPPLY CHAIN ANALYSIS OF GLOBAL SMART METERS MARKET 28

FIGURE 7 GLOBAL SMART METERS MARKET SHARE, BY TYPE, 2020 (%) 31

FIGURE 8 GLOBAL SMART METERS MARKET, BY TYPE, 2020-2027 (USD MILLION) 32

FIGURE 9 GLOBAL SMART METERS MARKET SHARE, BY TECHNOLOGY, 2020 (IN %) 35

FIGURE 10 GLOBAL SMART METERS MARKET, BY TECHNOLOGY, 2020-2027 (USD MILLION) 35

FIGURE 11 GLOBAL SMART METERS MARKET SHARE, BY APPLICATION, 2020 (%) 38

FIGURE 12 GLOBAL SMART METERS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 38

FIGURE 13 GLOBAL SMART METERS MARKET SHARE, BY REGION, 2020 (IN %) 42

FIGURE 14 GLOBAL SMART METERS MARKET, BY REGION, 2020-2027 (USD MILLION) 42

FIGURE 15 NORTH AMERICA: SMART METERS MARKET SHARE, BY COUNTRY, 2020 (%) 44

FIGURE 16 NORTH AMERICA: SMART METERS MARKET SHARE, BY TYPE, 2020 (%) 45

FIGURE 17 U.S.: SMART METERS MARKET SHARE, BY TYPE, 2020 (%) 47

FIGURE 18 CANADA: SMART METERS MARKET SHARE, BY TYPE, 2020 (%) 49

FIGURE 19 EUROPE: SMART METERS MARKET SHARE, BY COUNTRY, 2020 (%) 51

FIGURE 20 EUROPE: SMART METERS MARKET SHARE, BY TYPE, 2020 (%) 52

FIGURE 21 GERMANY: SMART METERS MARKET SHARE, BY TYPE, 2020 (%) 54

FIGURE 22 U.K.: SMART METERS MARKET SHARE, BY TYPE, 2020 (%) 56

FIGURE 23 FRANCE: SMART METERS MARKET SHARE, BY TYPE, 2020 (%) 58

FIGURE 24 SPAIN: SMART METERS MARKET SHARE, BY TYPE, 2020 (%) 60

FIGURE 25 REST OF EUROPE: SMART METERS MARKET SHARE, BY TYPE, 2020 (%) 62

FIGURE 26 ASIA PACIFIC: SMART METERS MARKET SHARE, BY COUNTRY, 2020 (%) 64

FIGURE 27 ASIA PACIFIC: SMART METERS MARKET SHARE, BY TYPE, 2020 (%) 65

FIGURE 28 CHINA: SMART METERS MARKET SHARE, BY TYPE, 2020 (%) 68

FIGURE 29 JAPAN: SMART METERS MARKET SHARE, BY TYPE, 2020 (%) 70

FIGURE 30 INDIA: SMART METERS MARKET SHARE, BY TYPE, 2020 (%) 72

FIGURE 31 REST OF ASIA PACIFIC: SMART METERS MARKET SHARE, BY TYPE, 2020 (%) 74

FIGURE 32 ROW: SMART METERS MARKET SHARE, BY COUNTRY, 2020 (% SHARE) 76

FIGURE 33 ROW: SMART METERS MARKET SHARE, BY TYPE, 2020 (%) 77

FIGURE 34 SOUTH AMERICA: SMART METERS MARKET SHARE, BY TYPE, 2020 (%) 79

FIGURE 35 MIDDLE EAST & AFRICA: SMART METERS MARKET SHARE, BY TYPE, 2020 (%) 81

FIGURE 36 GROWTH STRATEGIES ADOPTED BY KEY PLAYERS IN GLOBAL SMART METERS MARKET, 2020, (% SHARE) 83

FIGURE 37 GLOBAL SMART METERS MARKET SHARE OF TOP 5 PLAYERS 84

FIGURE 38 COMPETITORS BENCHMARKING 85

FIGURE 39 SCHNEIDER ELECTRIC: TOTAL REVENUE (USD MILLION) 89

FIGURE 40 SCHNEIDER ELECTRIC: GEOGRAPHIC REVENUE MIX, 2020 (%) 90

FIGURE 41 SCHNEIDER ELECTRIC: SWOT ANALYSIS 91

FIGURE 42 SIEMENS AG: TOTAL REVENUE, (USD MILLION) 92

FIGURE 43 SIEMENS AG: GEOGRAPHIC REVENUE MIX, 2020 (%) 93

FIGURE 44 SIEMENS AG: KEY DEVELOPMENTS, 2012-2017 (%) 94

FIGURE 45 SIEMENS AG: SWOT ANALYSIS 94

FIGURE 46 LANDIS+GYR: TOTAL REVENUE, (USD MILLION) 95

FIGURE 47 LANDIS+GYR: GEOGRAPHIC REVENUE MIX, 2020 (%) 96

FIGURE 48 LANDIS+GYR: KEY DEVELOPMENTS, 2020 (%) 97

FIGURE 49 LANDIS+GYR: SWOT ANALYSIS 97

FIGURE 50 XYLEM, INC.: TOTAL REVENUE, (USD MILLION) 98

FIGURE 51 XYLEM, INC.: GEOGRAPHIC REVENUE MIX, 2020 (%) 99

FIGURE 52 XYLEM, INC.: KEY DEVELOPMENTS, 2020 (%) 100

FIGURE 53 XYLEM, INC.: SWOT ANALYSIS 101

FIGURE 54 HONEYWELL INTERNATIONAL: TOTAL REVENUE VS SEGMENTAL REVENUE (USD MILLION) 102

FIGURE 55 HONEYWELL INTERNATIONAL INC.: GEOGRAPHIC REVENUE MIX, 2020 (%) 103

FIGURE 56 HONEYWELL INTERNATIONAL INC.: SWOT ANALYSIS 104

FIGURE 57 ACLARA TECHNOLOGIES LLC: KEY DEVELOPMENTS, 2020 (%) 106

FIGURE 58 BADGER METER, INC: TOTAL REVENUE VS SEGMENTAL REVENUE (USD MILLION) 107

FIGURE 59 BADGER METER, INC.: GEOGRAPHIC REVENUE MIX, 2020 (%) 108

FIGURE 60 BADGER METER, INC.: KEY DEVELOPMENTS, 2020 (%) 109

FIGURE 61 ITRON INC: TOTAL REVENUE (USD MILLION) 110

FIGURE 62 ITRON INC: GEOGRAPHIC REVENUE MIX, 2020 (%) 111

FIGURE 63 EDMI: TOTAL REVENUE (USD MILLION) 113

FIGURE 64 EDMI: KEY DEVELOPMENTS, 2020 (%) 115

FIGURE 65 APATOR GROUP: TOTAL REVENUE (USD MILLION) 116

FIGURE 66 APATOR GROUP: GEOGRAPHIC REVENUE MIX, 2020 (%) 117

FIGURE 67 DIEHL METERING GMBH: TOTAL REVENUE (USD MILLION) 118

FIGURE 68 ZENNER: KEY DEVELOPMENTS, 2020 (%) 121

FIGURE 69 KAMSTRUP A/S: TOTAL REVENUE (USD MILLION) 122

FIGURE 70 KAMSTRUP A/S: GEOGRPHIC REVENUE MIX, 2020 (%) 123

FIGURE 71 KAMSTRUP A/S: KEY DEVELOPMENTS, 2020 (%) 124