European smart electric market is projected to rise at a CAGR of approximately 9.9% during the forecast period. The strict norms and regulations towards adoption of advanced meter system to accurately track electricity consumption will boost the European smart electric meter market share. The European Union Directive 2009/72/EC ordered the member countries to compulsorily take initiatives for adopting advanced electric meters as a means of ensuring efficient electricity consumption. The Europe 2020 energy efficiency targets are pushing smart meter initiatives ahead quickly. The European Commission proposed to update the energy savings target from 20% of the projected primary energy by 2020 to 30% by 2030. Another requirement for energy utilities is to save 1.5% per year by adopting energy-efficient technologies and management strategies. Such energy saving initiatives will boost the demand for smart electric meters in industries as well as household.
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The European Energy Services Directive (2006/32/EC) recognizes smart meters as one of the major ways to improve energy efficiency. As per Electricity Directive (2009/72/EC), it is mandatory for 80% of consumers to be equipped with smart meters by 2020, which further enable to have a positive impact on the economy for long term cost and benefits. Government mandates in the UK, France, and Spain are expected to drive the growth of smart electric meter penetration in Europe by 2020. Department for Business, Energy & Industrial Strategy and The Office of Gas and Electricity Markets (OFGEM) in the UK have mandated utility providers to install smart electric meter in every household by 2020.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Europe Smart electric meter Market by Communication Technology
- Power Line Communication
- Cellular
- Radio Frequency
Europe Smart electric meter Market by Phase
- Single Phase
- Three Phase
Europe Smart electric meter Market by Application
- Residential
- Commercial
- Industrial
Regional Analysis
- UK
- Germany
- Italy
- France
- Spain
- Rest of Europe
Company Profiles
- Aclara Technologies LLC
- Elster Group
- Itron Inc.
- Iskraemeco, D.D.
- Landis+Gyr AG
- Sagemcom Broadband SAS
- Schneider Electric SE
- Sensus
- Siemens AG
- Silver Spring Networks Inc.
- Toshiba Corp.
The Report Covers
- Comprehensive research methodology of the Europe 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 Europe Smart Electric Meter market.
- Insights about market determinants which are stimulating the Europe 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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