Electric Submeters Market was valued at USD 5.2 Billion in 2022 and is projected to reach USD 9.8 Billion by 2030, growing at a CAGR of 8.4% from 2024 to 2030.
The global electric submeters market was valued at approximately USD 2.8 billion in 2022, with a compound annual growth rate (CAGR) of 7.5% projected from 2022 to 2028. This growth is driven by increasing demand for energy management solutions and the adoption of smart grid technologies. The market is expected to reach around USD 4.1 billion by 2028. Major contributing factors include the rise in energy consumption, the need for accurate billing systems, and the regulatory push towards energy efficiency. Technological advancements in meter infrastructure and the growing emphasis on reducing energy costs are further stimulating market expansion.
Opportunities in the electric submeters market are emerging in both developed and developing regions. In developed countries, the focus is on upgrading existing infrastructure to incorporate advanced metering systems, while developing regions present significant growth potential due to rapid urbanization and industrialization. Governments and utilities are increasingly investing in smart metering solutions to enhance energy management and conservation. The introduction of IoT-enabled submeters and integration with energy management systems offer promising avenues for market players to explore. This dynamic environment creates a fertile ground for innovation and expansion in the electric submeters industry.
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Emon
Leviton
Schneider Electric
Honeywell(Elster Group)
Landis&Gyr
Itron
GE Digital Energy
Siemens
Kamstrup
Xylem Inc
Itron
ABB
Aclara
Nuri Telecom
Sagemcom
Trilliant
Iskraemeco
Echelon
Tantalus Systems
ZIV
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Electric Submeters Market
Residential
Commercial
Industrial
Based on Types the Market is categorized into Below types that held the largest Electric Submeters market share In 2023.
Electric Meters
BTU Electric Meters
Water Electric Meters
Gas Electric Meters
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Electric Submeters Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Electric Submeters Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Electric Submeters Market, By Type
6. Global Electric Submeters Market, By Application
7. Global Electric Submeters Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Electric Submeters Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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