A smart meter is an Internet-capable device that measures energy consumption of a building, home, plants, etc.
Whereas traditional meters only measure total consumption, smart meters record when and how much of a resource is consumed. Energy companies are deploying smart meters to monitor consumer usage and adjust prices according to the time of day and season.
The smart meter acts as the network termination point, an ingress router between the utility’s network and the building it is monitoring. When connected to a building automation system, a smart meter will allow the building administrator to control based on real-time energy costs.
A smart meter is one component of a smart grid, an approach to managing energy distribution and consumption that uses Internet technologies to create bi-directional communication, coordination and control.
According to the new market research report “Global Smart Metering Market Report 2023-2029”, published by QYResearch, the global Smart Metering market size is projected to reach USD 13.43 billion by 2029, at a CAGR of 3.5% during the forecast period.
- Global Smart MeteringMarketSize (US$ Million), 2018-2029
Based on or includes research from QYResearch: Global Smart Metering Market Report 2023-2029.
- Global Smart MeteringTop17 Players Ranking and Market Share（Based on data of 2021, Continually updated）
Based on or includes research from QYResearch: 2021 data information of Global Smart Metering Market Report 2023-2029.
The global key manufacturers of Smart Metering include Landis+Gyr, Itron, Siemens, Kamstrup, Elster Group, Sanxing, Linyang Electronics, Wasion Group, Sagemcom, Haixing Electrical, etc. In 2021, the global top five players had a share approximately 23.0% in terms of revenue.
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