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power metering market size was valued at USD 11.3 billion in 2022 and is poised to grow from USD 12 billion in 2023 to USD 19.42 billion by 2031, growing at a CAGR of 6.2% in the forecast period (2024-2031).

Power metering providers are focusing on increasing their business reach across different parts of the world. Companies can collaborate and partner with governments to maximize their sales and revenue generation potential in the future. Upgradation of old power grids and the adoption of advanced new power technologies could also offer lucrative growth opportunities for power metering companies going forward. The market is highly fragmented and provides opportunities for new companies as well. Market players should also focus on creating products that are compliant with changing regulations across different countries. 'General Electric', 'Holley metering Ltd.', 'Sensus', 'Melrose plc', 'Aclara Technologies LLC', 'Toshiba Corporation', 'ABB Ltd.', 'Schneider Electric', 'Wasion Holdings Limited', 'Eaton Corporation plc', 'Siemens AG', 'Wasion Group Holdings', 'Melrose Industries PLC', 'Kamstrup AS'

The world is hungrier for energy than ever before and as the world struggles to fulfill this surging demand for energy, it is deploying measures to conserve energy and improve its proper utilization. Increasing focus on effective energy consumption among organizations and individuals is slated to bolster the demand for power metering in the future.

Smart Power Metering: The adoption of smart power meters is forecasted to increase at a notable pace across the forecast period as power metering technology advances. Governments across the world are necessitating the use of smart power meters to improve energy consumption and manage the effectiveness of power grids to satisfy the surging demand for power.

The Asia Pacific region is estimated to account for a massive share of the power metering demand outlook. This can be attributed to the presence of a huge power supply network to some of the world’s largest population bases such as China and India, which also lead the market growth in this region. High investments in infrastructure development and growing electricity usage from the industrial sector are also predicted to bolster power metering market growth in the Asia Pacific region across the forecast period. Initiatives taken by governments in this region to optimize energy supply are also estimated to bolster sales of smart power meters and thereby drive power metering market development as well.

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Global Power Metering Market

Product ID: SQMIG20D2212