Global Single Phase Smart Meter Market Expected to Reach XX Million by 2025
According to a new report published by Reports Monitor titled, “Single Phase Smart Market By Type, Property & Applications: Global Opportunity Analysis and Industry Forecast, 2017–2025,” the Single Phase Smart Market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025. Asia Pacific dominates the Single Phase Smart Market, both in terms of volume and value, and is expected to maintain this trend throughout the forecast period.
A smart meter is an electricity meter with additional functionality. Smart meters are used to digitally record data about energy consumption in real time. Single phase electricity is connected at 230 or 240 volts using 2 wires. These wires are active and neutral, and it is found in most of the domestic settings. The electricity meters in single phase meter range are all MID approved meters. These MID meters are rated as class 1 and 2, so that to depend on electricity accuracy, and are compact and light weighted.
The market is growing tremendously due to growing demand for efficient data monitoring systems. Energy savings is also one of the factors for the growth of the market. The other element responsible for the growth of the market is renewable energy integration to smart grid infrastructure.
As per the segmentation, the market is divided into different segments which includes, by type, by application, and by region. The type of single phase smart meter is bifurcated into IC card, and Non-IC card. On the basis of application the market is categorized into network connections and non-network connections.
Key Question Answered:
• What will be the market size in 2025 and at what rate it will grow?
• Who are the major key players in global Single Phase Smart market and what are their strategies?
• Which vertical industry is expected to show major growth?
• What segment and region will lead the market and why?
The major companies profiled in the report include: Honeywell Elster, Iskraemeco, Itron, Kamstrup, Landis+Gyr, Sagemcom, Siemens, Stavropolskij elektrotehnicheskij zavod Energomera AO , Wasion Group, ZIV.
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