Electricity Meters Market Witness an Outstanding Growth and Strong Revenue and Forecast to 2027



 An electricity metre, sometimes known as an electric metre, is a device that measures the quantity of electric energy utilised by a home, a business, or a gadget that is powered by electricity. Customers' homes have electric metres installed for billing and monitoring purposes. The kilowatt-hour is the most frequent billing unit in electricity metres. AMR (Automatic Meter Reading) capabilities have been replaced by AMI (Advanced Metering Infrastructure) capabilities in smart metres. AMR systems collect metre data using one-way communication and radio frequency, which eliminates the need to physically inspect the metre. Tamper detection, data aggregation, metre diagnostics, and lead profiling are just a few of the features of this system.

Real-time monitoring of the electric system, dynamic pricing, optimization of existing sources, and efficient use of power resources are all advantages of smart electricity metres. Furthermore, a smart electric metre allows for more efficient data monitoring, which opens up new possibilities. Major market players might offer unique solutions and expand their market position.

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Market Dynamics- Driver -

Because end users would have the ability to evaluate and reduce daily power consumption, smart metres are projected to reduce peak electricity demand. This is expected to relieve load on current power plants while also allowing for improved resource utilisation and optimization. Smart metering's advantages are projected to reverberate throughout the value chain, not just in households. The main incentive for developing smart metering and smart grids on a wide scale is government regulations to promote energy efficiency. The following is a summary of the EU's 20/20/20 Plan, which is aimed at 2020: Greenhouse gas (GHG) emissions will be cut by 20%, energy efficiency will be increased by 20%, and renewable energy will account for 20% of total energy.

The report has included a comprehensive analysis of different factors that fuel the growth of the Oceanographic Monitoring System market. It includes growth potential, drivers, restraints, industry-specific challenges and risks, and opportunities that transform the market in a negative or positive way. Every factor has been evaluated in detail to offer a complete accurate grasp of the market.

Recent Developments

In January 2020, Itron, a technology company based in the United States, announced a 4G LTE smart metering system that uses 4G LTE technology to give extensive region coverage, low latency, and network lifespan.

Wasion Group and Guizhou Power Grid Corporation signed a deal in March 2019 to offer communications and terminal devices, smart metres, and smart power solutions.

Global Electricity Meters Market: Competitive Landscape   

Key players operating in the global electricity meters market are Siemens AG, Holley Metering Ltd., Schneider Electric SA, Itron, General Electric, Landis+Gyr, Delixi Group Co. Ltd., and Jiangsu Linyang Electronics Co., Ltd.

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