Growth Drivers
Challenges
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. The Asia Pacific market is predicted to grow at the fastest CAGR over the forecast period due to the rise in capital investments in smart grid technologies and smart cities. The increase in the number of new data centers and a surge in commercial institutions are also estimated to drive the region's smart electric meter market. Along with this, China accounts for the largest share due to large-scale rollout plans. The country also accounts for the highest installed generation and distribution capacity in the Asia Pacific, resulting in an increased demand for smart electric meters.
The global smart electric meter market is further classified on the basis of region as follows:
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
7.5% |
Base Year Market Size (2024) |
USD 13.29 billion |
Forecast Year Market Size (2037) |
USD 34.03 billion |
Regional Scope |
|
Author Credits: Abhishek Verma
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