The UK smart electric meter market is expected to grow at a CAGR of approximately 10.5% during the forecast period. The major factors for the growth of the market include government initiatives and adoption of smart electric grids in the nation. The UK Government’s commitment for smart meter roll-out by 2020 is a key driver for the growth of Europe smart electric meter market. Additionally, the regulations and norms in the UK is well established to fund smart electric meter deployments. Along with the implementation of electricity market reforms underway, the UK is now the potential market that provides growing opportunities for smart meter solutions.
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The UK Energy Bill, including the Electricity Market Reform (EMR) bill was passed in December 2013, to represent the government’s response towards electricity sector challenges. The UK electricity possesses the potential growth for major opportunities for energy efficiency and smart electricity meters. The UK Energy Bill was signed into law in August 2014 and was followed by a change in series of legislative that focused on improving the electricity implementation. The key objectives of the law that affects the electricity sector include Implementation of Electricity Market Reform to attract 110 billion investment in generation and grid investments by 2020, safety and security regulations for nuclear sector, consumer protections including limit on energy tariffs and the improved transparency of bill. These government initiatives to provide efficient electricity consumption will boost the demand for smart electric meter to accurately record electricity consumption for billing and monitoring.
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- Market Coverage
- Market number available for – 2024-2030
- Base year- 2023
- Forecast period- 2024-2030
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
UK Smart electric meter Market by Communication Technology
- Power Line Communication
- Cellular
- Radio Frequency
UK Smart electric meter Market by Phase
- Single Phase
- Three Phase
UK Smart electric meter Market by Application
- Residential
- Commercial
- Industrial
Regional Analysis
- United States
- Canada
Company Profiles
- Aclara Technologies LLC
- Elster Group
- Landis+Gyr AG
- Schneider Electric SE
- Sensus, a Xylem brand
- Siemens AG
- Toshiba Corp.
- Wasion Group
The Report Covers
- Comprehensive research methodology of the UK Smart Electric Meter market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the UK Smart Electric Meter market.
- Insights about market determinants which are stimulating the UK Smart Electric Meter market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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