"The Report Global
Digital Power Meter Market 2017-2021 provides information on pricing,
market analysis, shares, forecast, and company profiles for key
industry participants. - MarketResearchReports.biz"
MarketResearchReports.biz
has announced the addition of a report, titled “Global
Digital Power Meter Market 2017-2021,”
to its database. The report is a professional study encompassing all
the important aspects of the global digital power meter market.
According to the findings of the report, the market is anticipated to
proliferate at a CAGR of nearly 5% between 2017 and 2021.
The
growing deployment of smart grids is one of the primary factors
providing a significant momentum to the global digital power meter
market. Smart grids include supervisory control and data acquisition
(SCADA) systems, smart power meters, and other communication
networks. These devices allow utilities to have complete access to
digital assets present in the field.
On
the basis of end user, the global digital power meter market is
categorized into residential, industrial, and commercial. The
residential segment will continue to dominate the market until 2021.
Rapid urbanization and grants provided by government for meter
installation are promoting the installation of digital power meters
across the residential sector. Moreover, the ever-rising demand for
energy is also promoting the uptake of smart and reliable solutions
and equipment, thereby stoking the growth of the market.
However,
the health hazards such as insomnia, fatigue, and heart and eye
problems associated with smart metering technology are limiting their
widespread adoption. This is, therefore, restricting the global
digital power meter market from realizing its utmost potential. On
the other hand, the advent of global system for mobile communications
(GSM)-based automatic meter reading (AMR) is unfolding immense growth
opportunities for the market. The technology is simple and less
costly and requires less human interaction making its implementation
favorable for both manufacturers as well as end users.
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Based
on geography, the market is fragmented into Asia Pacific, Europe, the
Middle East, and Africa (EMEA), and Americas. Asia Pacific will
represent the leading share in the market throughout the forecast
period. Rising spending power of the populace and increasing
construction activities are stirring up the adoption of digital power
meters in the region. Moreover, favorable regulatory policies are
contributing to the growth of APAC.
The
presence of a raft of well-diversified international, regional, and
local players has made the global digital power meter market highly
fragmented and competitive arena. While in developed regions,
international players are the torch bearers, local or regional
vendors are leading markets in several developing and underdeveloped
nations. However, in attempts to capitalize on immense potential
offered by emerging countries, global participants are pouring funds
into these markets, making it extremely difficult for regional
vendors to maintain their stronghold.
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The
leading players in the global digital power meter market are
Schneider Electric, Sensus, Itron, and Landis+Gyr. Some other key
companies operating in the market are EKM Metering, Advanced
Electronics Company, Murata Power Solutions, Jiaxing Eastron
Electronic Instruments, Holley Metering, LINYANG Energy, Kamstrup,
and Simpson Electric.
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