Asia-Pacific smart electric market is predicted to grow approximately at a CAGR of 11.2% during the forecast period. The major economies contributing to the Asia-Pacific smart electric meter market includes China, Japan, India and Rest of Asia-Pacific. The smart electricity metering market is rapidly advancing in APAC. The low per-capita electricity consumption rates in many of the emerging economies such as China, India and Japan are making large-scale deployments costly, however, cost related issues will resolve during the forecast period. Additionally, in some countries such as India and Japan, electricity theft rates are above average. This can be best addressed with the growing adoption of smart metering to tackle such problems. Along with improved reliability, several local firms in the market are involving in partnerships with international and domestic metering vendors, further offering growth potential for smart electricity metering market.
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Smart grid activity is picking up the regional smart electricity meter market. These activities are led by the developed economy including Singapore, which got planning for full smart meter deployment. Pilot projects are also established in Thailand and Malaysia, with additional projects under process in Indonesia and the Philippines. Apart from the increased activity, domestic firms and international smart metering vendors are positioning themselves in the Asian smart electricity grid market. In addition to smart metering, there are growing opportunities for distribution automation vendors and vendors for projects such as smart street lighting.
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Further, in the Asia-Pacific smart electric meter market, there are various initiatives undertaken. As per initiative started by KSGI, smart meters were introduced to change the limited functionality of Korea’s current electricity utility communication systems, particularly the inaccurate readings of electric meters, along with Korea’s power losses due to inefficiencies. The Korea Electric Power Company (KEPCO) is focusing on installing smart meters for residential customers, which accounts for 14% of national energy consumption.
Market Segmentation
Asia-Pacific Smart electric meter Market by Communication Technology
- Power Line Communication
- Cellular
- Radio Frequency
Asia-Pacific Smart electric meter Market by Phase
- Single Phase
- Three Phase
Asia-Pacific Smart electric meter Market by Application
- Residential
- Commercial
- Industrial
Regional Analysis
- China
- India
- Japan
- Rest of Asia-Pacific
Company Profiles
- Elster Group
- Holley Metering Ltd.
- Itron Inc.
- Landis+Gyr AG
- Nuri Telecom
- Schneider Electric SE
- Sensus
- Siemens AG
- Silver Spring Networks Inc.
- Toshiba Corp.
- Wasion Group
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