Power Metering Market by Technology (Analog Meter, Digital Meter, Smart Meter), Phase (Single, Three), End-User - Global Forecast 2024-2030


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Power Metering Market by Technology (Analog Meter, Digital Meter, Smart Meter), Phase (Single, Three), End-User - Global Forecast 2024-2030


The Power Metering Market size was estimated at USD 2.29 billion in 2023 and expected to reach USD 2.52 billion in 2024, at a CAGR 10.63% to reach USD 4.64 billion by 2030.

Global Power Metering Market

Power metering refers to monitoring, measuring, and analyzing the flow of electrical power in a specified system, such as residential, commercial & industrial buildings, or across electrical distribution networks. It involves using devices known as power meters that capture data related to various electrical parameters, such as voltage, current, power factor, energy consumption, and demand over time. This data can be utilized to assess the efficiency of electrical systems, manage energy costs, and ensure the reliability and quality of power supply. Meanwhile, rising electricity consumption in industrial and commercial areas boosts the demand for power metering for efficient data monitoring and management. However, the concerns associated with their standardization and interoperability are a significant challenge faced by the key players and end users operating power metering solutions. Companies are consistently working towards areas for innovation and research that can drive business growth, including developing more secure and resilient metering devices. Moreover, the recent advancements in the power metering systems, such as digital transformation trends, offer the potential for innovations in the power metering industry. Additionally, adopting the Internet of Things (IoT) for enhanced connectivity and data analytics capabilities presents an opportunity for key players to deploy smart meters that contribute to improved energy management and sustainability.

Regional Insights

The power metering market in the Americas is driven by consumer needs for energy efficiency, accurate billing, and integrating renewable energy sources. The United States presents a large share of power metering landscapes with smart grid technology adoption, investing in advanced metering infrastructure (AMI) as part of utility modernization efforts. Meanwhile, Canada follows suit, strongly focusing on sustainability and reducing carbon footprints. Canada's power metering sector is expanding, bolstered by government initiatives to promote smart grids and renewable energy systems. In addition, the European and Middle Eastern regions present a varied power metering landscape, with the European countries demonstrating strong commitments to sustainability with regulatory mandates for smart metering. Economic diversification and smart city projects propel the market in the Middle East, while Africa's power metering spaces are emerging, primarily focused on expanding access to electricity. International investments and partnerships are key drivers in this region, with a growing number of initiatives aimed at modernizing power systems and introducing renewable sources. Moreover, the Asia Pacific region is experiencing rapid growth in power metering due to burgeoning industrialization, urbanization, and increased energy demand. China and India are significant players with vast initiatives and government support pushing the market forward. Japan has strongly emphasized energy security and efficiency, leading to the widespread adoption of smart metering systems. Investments in the Internet of Things (IoT) and smart technologies are commonplace in this region, with customer purchasing trends leaning towards high-tech energy management solutions.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Power Metering Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Power Metering Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Power Metering Market, highlighting leading vendors and their innovative profiles. These include ABB Limited, Accuenergy Inc., Acrel Co., Ltd., Anritsu Corporation, DS Instruments, Eaton Corporation PLC, General Electric Company, Genus Power Infrastructures Limited, Havells India Limited, Holley Metering Limited, Honeywell International Inc., Itron Inc., Jiangsu Linyang Electronics Co., Ltd., Keysight Technologies, Krytar, Inc., Kuhne Electronic by Alaris Group, Lakshmi Electrical Control Systems Limited, Ningbo Sanxing Electric Co., Ltd., PCE Deutschland GmbH, Rockwell Automation, Inc., Rohde & Schwarz, Saluki Technology, Schneider Electric SE, Scientech, Inc. by Curtiss-Wright Corporation, Siemens AG, Sontex SA, Tektronix, Inc. by Danaher Corporation, Virginia Diodes, Inc., and Werlatone Inc..

Market Segmentation & Coverage

This research report categorizes the Power Metering Market to forecast the revenues and analyze trends in each of the following sub-markets:

Technology
Analog Meter
Digital Meter
Smart Meter
Phase
Single
Three
End-User
Commercial
Industrial
Residential
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Power Metering Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Power Metering Market?
3. What are the technology trends and regulatory frameworks in the Power Metering Market?
4. What is the market share of the leading vendors in the Power Metering Market?
5. Which modes and strategic moves are suitable for entering the Power Metering Market?

Note: PDF & Excel + Online Access - 1 Year


1. Preface
1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Limitations
1.7. Assumptions
1.8. Stakeholders
2. Research Methodology
2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Power Metering Market, by Region
5. Market Insights
5.1. Market Dynamics
5.1.1. Drivers
5.1.1.1. Rising utilization and need for electricity across the world
5.1.1.2. Awareness about the importance of power management and growing sustainability concerns
5.1.1.3. Need to achieve energy efficiency in manufacturing and industrial sectors
5.1.2. Restraints
5.1.2.1. Technical limitations associated with power metering
5.1.3. Opportunities
5.1.3.1. Advancements and innovations to improve the accuracy and reliability of power metering
5.1.3.2. Adoption of power metering solutions and services for renewable energy projects
5.1.4. Challenges
5.1.4.1. Privacy concerns about advanced power metering technologies and solutions
5.2. Market Segmentation Analysis
5.2.1. Technology: Growing popularity of digital and smart meters in modern energy management systems
5.2.2. Phase: Utilization of single-phase and three-phase power metering in preference to their functionality in low and high-voltage power distribution
5.2.3. End-User: Growing adoption of power metering in commercial and industrial sectors offering better optimizations in grid management
5.3. Market Trend Analysis
5.4. Cumulative Impact of High Inflation
5.5. Porter’s Five Forces Analysis
5.5.1. Threat of New Entrants
5.5.2. Threat of Substitutes
5.5.3. Bargaining Power of Customers
5.5.4. Bargaining Power of Suppliers
5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework
6. Power Metering Market, by Technology
6.1. Introduction
6.2. Analog Meter
6.3. Digital Meter
6.4. Smart Meter
7. Power Metering Market, by Phase
7.1. Introduction
7.2. Single
7.3. Three
8. Power Metering Market, by End-User
8.1. Introduction
8.2. Commercial
8.3. Industrial
8.4. Residential
9. Americas Power Metering Market
9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States
10. Asia-Pacific Power Metering Market
10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam
11. Europe, Middle East & Africa Power Metering Market
11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom
12. Competitive Landscape
12.1. FPNV Positioning Matrix
12.2. Market Share Analysis, By Key Player
12.3. Competitive Scenario Analysis, By Key Player
12.3.1. Agreement, Collaboration, & Partnership
12.3.1.1. India’s Genus Launches USD 2 Billion Smart Meter Funding Platform
12.3.2. New Product Launch & Enhancement
12.3.2.1. Carlo Gavazzi’s New Single Phase AC Energy Meter for Level 1 and 2 EV Charging
12.3.2.2. GW Instek Unveils The New GPM-8330/8320 Digital Power Meter
13. Competitive Portfolio
13.1. Key Company Profiles
13.1.1. ABB Limited
13.1.2. Accuenergy Inc.
13.1.3. Acrel Co., Ltd.
13.1.4. Anritsu Corporation
13.1.5. DS Instruments
13.1.6. Eaton Corporation PLC
13.1.7. General Electric Company
13.1.8. Genus Power Infrastructures Limited
13.1.9. Havells India Limited
13.1.10. Holley Metering Limited
13.1.11. Honeywell International Inc.
13.1.12. Itron Inc.
13.1.13. Jiangsu Linyang Electronics Co., Ltd.
13.1.14. Keysight Technologies
13.1.15. Krytar, Inc.
13.1.16. Kuhne Electronic by Alaris Group
13.1.17. Lakshmi Electrical Control Systems Limited
13.1.18. Ningbo Sanxing Electric Co., Ltd.
13.1.19. PCE Deutschland GmbH
13.1.20. Rockwell Automation, Inc.
13.1.21. Rohde & Schwarz
13.1.22. Saluki Technology
13.1.23. Schneider Electric SE
13.1.24. Scientech, Inc. by Curtiss-Wright Corporation
13.1.25. Siemens AG
13.1.26. Sontex SA
13.1.27. Tektronix, Inc. by Danaher Corporation
13.1.28. Virginia Diodes, Inc.
13.1.29. Werlatone Inc.
13.2. Key Product Portfolio
14. Appendix
14.1. Discussion Guide
14.2. License & Pricing
FIGURE 1. POWER METERING MARKET RESEARCH PROCESS
FIGURE 2. POWER METERING MARKET SIZE, 2023 VS 2030
FIGURE 3. POWER METERING MARKET SIZE, 2018-2030 (USD MILLION)
FIGURE 4. POWER METERING MARKET SIZE, BY REGION, 2023 VS 2030 (%)
FIGURE 5. POWER METERING MARKET SIZE, BY REGION, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 6. POWER METERING MARKET DYNAMICS
FIGURE 7. POWER METERING MARKET SIZE, BY TECHNOLOGY, 2023 VS 2030 (%)
FIGURE 8. POWER METERING MARKET SIZE, BY TECHNOLOGY, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 9. POWER METERING MARKET SIZE, BY PHASE, 2023 VS 2030 (%)
FIGURE 10. POWER METERING MARKET SIZE, BY PHASE, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 11. POWER METERING MARKET SIZE, BY END-USER, 2023 VS 2030 (%)
FIGURE 12. POWER METERING MARKET SIZE, BY END-USER, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 13. AMERICAS POWER METERING MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
FIGURE 14. AMERICAS POWER METERING MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 15. UNITED STATES POWER METERING MARKET SIZE, BY STATE, 2023 VS 2030 (%)
FIGURE 16. UNITED STATES POWER METERING MARKET SIZE, BY STATE, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 17. ASIA-PACIFIC POWER METERING MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
FIGURE 18. ASIA-PACIFIC POWER METERING MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 19. EUROPE, MIDDLE EAST & AFRICA POWER METERING MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
FIGURE 20. EUROPE, MIDDLE EAST & AFRICA POWER METERING MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 21. POWER METERING MARKET, FPNV POSITIONING MATRIX, 2023
FIGURE 22. POWER METERING MARKET SHARE, BY KEY PLAYER, 2023

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