U.S. Smart Meter Market Growth 2021-2027, Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider U.S. Smart Meter Market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, U.S. Smart Meter Market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence.
The U.S. smart meter market size was valued at $3,731.6 million in 2020, and is projected to reach $7,693.6 million by 2027, growing at a CAGR of 10.5% from 2021 to 2027.
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Smart Meters are devices for accurately monitoring gas and electricity meter usage that can send usage information via radiofrequency electromagnetic radiation (RF) which helps the utility company to effectively manage the energy usage. Smart meters offer a host of benefits such as reduction of meter reading cost, removing inefficiencies in billing, preventing disconnection and re-connection costs to corporations and consumers.
Favorable government policies along with fiscal incentives is a key factor driving the smart meters market. Furthermore, large scale deployment of smart grid and the utility companies focusing on enhancing distribution efficiency are other factors boosting the market growth. High installation cost of smart meters borne by end-users is a factor hampering the growth of the smart meters. Various grid operators trying to effectively managing the demand for power offer ample growth opportunities for the smart meters to grow. Creating awareness among consumers along with bringing interoperability is a key market challenge that needs to overcome by key market players to gain a stronghold in the market.
The global market is forecast to witness a rapid growth, owing to increasing demand for technological advancements from end-users. Moreover, increasing investments in research and development activities, launches, partnerships, and other strategic initiatives will benefit the market. Furthermore, the growing focus of authorities towards increasing urbanization and industrialization is forecast to drive the market growth.
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Furthermore, improper installation of smart meters is a major market challenge.
The report segments the U.S. smart meters market on the basis of product, service and connectivity. On the basis of product, the market is segmented into smart electricity meters, smart water meters and smart gas meters. On the basis of service, the market is segmented into installation service and repair & maintenance service On the basis of connectivity, the market is segmented into power line communication, cellular communication and radio frequency.
The market is poised to grow at a significant rate in the North America driven by the huge market demand in the U.S. The country is focusing on upgrading and replacing outdated infrastructure, enabling grid reliability, and installing smarter power networks. The factors responsible for the market demand in North America is conducive government initiatives, consisting of proper allocation of funds and making smart meters mandatory in many states such as Texas and California.
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Key market players extensively profiled in the report include Elster Group, Itron Inc., Landis+Gyr, Schneider Electric SA, Siemens AG, Badger Meter , ICSA India Limited, Circuator SA , EDMI, Holley Metering Limited , Neptune Technology Group Inc., Sensus, and Honeywell International Inc.
KEY BENEFITS FOR STAKEHOLDERS:
– The report provides a comprehensive analysis of current & future market trends and emerging avenues for the growth of the market across the globe.
– The report offers an extensive analysis of smart meter mandates by government in different countries and its impact on their installation in these countries.
– The report offers an insight into competitive landscape in terms of new technological developments, untapped segments, and value chain analysis.
– This report entails the detailed quantitative analysis of the current market and estimations through 2014 and 2020, which assists in identifying the prevailing market opportunities.
– The report analyses the top impacting factors in detail and offers adoption rate analysis of the market on the basis of different segment across different countries.
– Porters Five Forces analysis is offered in the report along with highlighting bargaining power of buyers and suppliers.
– The report offers strategic analysis of financial status of key market players, and highlights market share of key vendors.
– The report offers information on the status of new projects along with offering investment feasibility analysis of the same.
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SMART METERS MARKET KEY SEGMENTS:
– Smart Meters Market By Product
o Smart Electric Meters
o Smart Water Meters
o Smart Gas Meters
– Smart Meters Market By Service
o Installation Service
o Repair & Maintenance Service
– Smart Meters Market By Connectivity
o Power Line Communication
o Cellular Communication
o Radio Frequency
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Final Report will add the analysis of the impact of COVID-19 on this industry.”
In the highly import-dependent U.S. Smart Meter Market, a large number of indigenous manufacturers of syringes and needles have managed to come up. However, it does not mean that imports are low for this market. Imports, as in the case with other medical devices, are quite high but the domestic manufacturers have been able to tap foreign markets through increasing exports. The target base of consumers is growing steadily which is expected to significantly boost sales in the market.
The report provides a snapshot of the U.S. Smart Meter Market. It begins with the introduction section which mentions the features and uses of syringes and needles along with a brief description of the various phases in their development. The market overview section provides an insight into the market and highlights the market size. Import and export figures for syringes and needles, both in terms of volume and value have been provided in the next section. It also includes the regional break-up of the imports and exports.
An analysis of the drivers explains the factors leading to the growth of the market which include increasing need of insulin doses, increasing demand for vaccines, improving health infrastructure, growing incidence of diseases, changing demographics and health check-up packages. Some of the major challenges to the market are illegal recycling of syringes and needles and problems associated with usage. Government legislation in the market has been discussed in the next section.
The competition section highlights the features of the major players operating in the market. A brief profile of the major domestic and foreign players in the market along with their financials has been included in this section.
A section providing strategic recommendations has been given at the end of the report which gives effective solutions to existing and potential players for improving market share and increasing profitability. The Market report answers the following questions:
Following are the questions answered by the Market report:
What are the goals of the report?
This market report shows the projected market size for the U.S. Smart Meter Market at the end of the forecast period. The report also examines the historical and current market sizes.
On the basis of various indicators, the charts present the year-over-year growth (%) and compound annual growth rate (CAGR) for the given forecast period.
The report includes an overview of the market, its geographical scope, its segmentation, and the financial performance of key players.
The report examines the current state of the industry and the potential growth opportunities in North America, Asia Pacific, Europe, Latin America, and the Middle East, and Africa.
The research report includes various factors contributing to the market’s growth.
The report analyzes the growth rate, market size, and market valuation for the forecast period.
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This report covers aspects of the regional analysis market.
The report includes data about North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
This report analyzes current and future market trends by region, providing information on product usage and consumption.
Reports on the market include the growth rate of every region, based on their countries over the forecast period.
What factors are taken into consideration when assessing the key market players?
The report analyzes companies across the globe in detail.
The report provides an overview of major vendors in the market, including key players.
Reports include information about each manufacturer, such as profiles, revenue, product pricing, and other pertinent information about the manufactured products.
This report includes a comparison of market competitors and a discussion of the standpoints of the major players.
Market reports provide information regarding recent developments, mergers, and acquisitions involving key players.
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What are the key findings of the report?
This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
The report offers the current state of the market and future prospects for various geographical regions.
This report provides both qualitative and quantitative information about the competitive landscape of the market.
Combined with Porter’s Five Forces analysis, it serves as SWOT analysis and competitive landscape analysis.
It provides an in-depth analysis of the market, highlighting its growth rates and opportunities for growth.
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