Press release
Digital Electricity Meter Market Soars to New Heights on 2023 to 2030 | General Electric, Murata Power Solutions, Simpson Electric
During the projected period of 2023-2030, the Digital Electricity Meter Market is anticipated to increase from 93.28 million units in 2023 to 123.968 million units by 2030, at a compound annual growth rate (CAGR) of 6.79%. A digital electricity meter is a tool for calculating how much electricity a home or business uses. In order to compute the amount of electricity used, a microprocessor converts the alternating current (AC) voltage and current into direct current (DC) voltage and current. The Meter can be read remotely over a communication network or displays the consumption in real time. Modern electrical systems frequently employ digital electricity meters because they are more precise and practical than conventional mechanical meters.
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The Key companies profiled in the Digital Electricity Meter Market:
The study examines the Digital Electricity Meter Market's competitive landscape and includes data on General Electric, Murata Power Solutions, Simpson Electric, Chroma ATE, EKM Metering, Advanced Electronics, HDL, Omni System, Schneider Electric, Radarking Electronics, Holley Metering, Shanghai JYINS Meters Electrical, Newhongbo, Eastron Instruments, Qianxing Electrical & Others.
Global Digital Electricity Meter Market Split by Product Type and Applications
This report segments the Digital Electricity Meter Market on the basis of Types:
Single Phase
Three Phase
Other
On the basis of Application, the Digital Electricity Meter Market is segmented into:
Household
Commercial
The market for digital electricity meters is very competitive and dynamic, and a number of factors affect its expansion and development. The demand for energy efficiency and conservation is rising, and smart grid adoption is expanding. Other important drivers include technology improvements and regulatory constraints. However, obstacles including exorbitant up-front prices, worries about data security and privacy, problems with interoperability, and a lack of availability in developing nations have an impact on the industry. The market is anticipated to expand over the upcoming years due to rising energy efficiency demand, the adoption of smart grid technologies, and technological improvements, but there are still some issues that need to be resolved before digital electricity meters can completely realise their potential.
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The market for digital electricity meters in North America is now the largest, followed by those in Europe and Asia Pacific. This is because smart technologies were adopted early in these areas and because of government programmes that support energy saving and efficiency. The digital electricity meter market is anticipated to develop at the greatest rate during the projected period in the Asia Pacific region. This is due to the rise in demand for energy-efficient gadgets and regional government efforts to encourage the use of smart meters.
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4. It gives pin point investigation of changing rivalry elements and keeps you in front of contenders.
5. It helps in settling on educated business choices by having total bits of knowledge of the market and by making inside and out investigations of market sections.
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Market Segmentation:
Digital Electricity Meter market is split by Type and by Application. For the period 2018-2029, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.
Digital electricity meters have had a considerable impact on the machinery and equipment sector. Businesses and homes can monitor and control their energy usage more easily thanks to digital electricity meters, which provide precise and real-time data on energy consumption. Compared to conventional analogue electricity meters, they also provide advantages including comprehensive data on energy usage, remote monitoring and control, and increased accuracy and dependability. In the upcoming years, the desire for energy efficiency and sustainability is anticipated to fuel further growth in the market for digital electricity metres. In general, digital electricity meters assist individuals, organisations, and families in lowering expenses, increasing productivity, and fostering sustainability.
Major Point of Table of Contents:
Chapter 1 Industry Overview
Chapter 2 Global Digital Electricity Meter Competition by Types, Applications, and Top Regions and Countries
Chapter 3 Production Market Analysis
Chapter 4 Global Digital Electricity Meter Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 North America Digital Electricity Meter Market Analysis
Chapter 6 East Asia Digital Electricity Meter Market Analysis
Chapter 7 Europe Digital Electricity Meter Market Analysis
Chapter 8 South Asia Digital Electricity Meter Market Analysis
Chapter 9 Southeast Asia Digital Electricity Meter Market Analysis
Chapter 10 Middle East Digital Electricity Meter Market Analysis
Chapter 11 Africa Digital Electricity Meter Market Analysis
Chapter 12 Oceania Digital Electricity Meter Market Analysis
Chapter 13 South America Digital Electricity Meter Market Analysis
Chapter 14 Company Profiles and Key Figures in Digital Electricity Meter Business
Chapter 15 Global Digital Electricity Meter Market Forecast (2023-2028)
Chapter 16 Conclusions
Research Methodology..
Global Digital Electricity Meter Market Research FAQs
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