Dallas, TX -- (SBWIRE) -- 06/16/2011 -- The CMFE (Chemical, Material, Food and Energy) practice at MarketsandMarkets is pleased to announce its “Analyst Briefing Presentation” on the “Global Smart Meter Market by Shipments, Types, Geography, Applications, Regulations Market Trends & Forecasts: (2011-2016)” to be held on June 21, 2011.
Smart meters are amongst the fastest growing markets in smart grid technology market. There are loads of benefits for households, utility companies, and others through installation of smart meters. A key advantage is that consumption of energy, gas, water, and other services can be monitored from remote location and accurate information can be provided for billing and the billing errors can be minimized.
http://www.marketsandmarkets.com/Market-Reports/smart-meter-366.html
Globally, smart meter market is expected to grow from 46,328.0 thousand units in 2011 to 128,900.0 thousand in 2016 with a CAGR of 22.7% from 2011 to 2016. North America contributed for the highest number of units in the global smart meter market with 36,013.0 thousand units and is expected to reach 98,080.5 thousand units in 2016, with a CAGR of 22.2% from 2011 to 2016.
In 2010, smart electric meter dominated the market with 74.4%; followed by smart water meter with 12.5%, due to increase in the meter installation by emerging countries such as Germany, Spain, Australia, and China through government regulations, and rise in the number of installations in applications such as residential, commercial and industrial, due to increasing demand for reducing global greenhouse emissions (European government target is a 20% reduction in GHG emission by 2020), and integration of renewable energy majorly in countries of Asia-Pacific such asChina,Indiainto smart grid and also rising prices of fossil fuels.
North Americaaccounted for the highest share in the smart meter market with $4,614.7 million in 2011, and is expected to reach $11,612.0 million in 2016 with a CAGR of 20.3%. Smart meter market inEuropein terms of new installation, captured the market share of around 12.6% (5,829.8 thousand units) as of mid-2011 of the overall global new installation; which was at 46,328.0 thousand units.
Major applications of smart meters analyzed in the report are residential, commercial, and industrial. Residential is the widely used application with installation share of 85.7%; followed by commercial with 8.8% globally due to benefits such as improvement in energy saving, reduction in the cost of billing, and other benefits. The major manufacturers for smart meters are Landis+Gyr Ltd (Switzerland), Itron Inc (U.S.), Elster Group (Germany), GE Energy Company (U.S.), and SensusUSAInc (U.S.).
Browse All : Smart Meter Forecasts
http://www.marketsandmarkets.com/Market-Reports/smart-meter-366.html
Browse All : Smart Meter Market
http://www.marketsandmarkets.com/Market-Reports/smart-meter-366.html
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