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Smart Electric Meter Market Trends

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Growth Drivers

Challenges

Base Year	2023
Forecast Year	2024–2036
CAGR	7.5%
Base Year Market Size (2023)	USD 12.36 billion
Forecast Year Market Size (2036)	USD 31.65 billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Author Credits: Abhishek Verma

Frequently Asked Questions (FAQ)

Rising investments in smart grid technologies and smart cities and increasing urban population are the key factors driving the market growth.

The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.

Costly installation charges and lack of awareness about a smart electric meter in lower economic regions are estimated to hamper the market growth.

The Asia Pacific region market will provide ample growth opportunities due to the increasing awareness about the smart electric meter.

The major players dominating the smart electric meter market are ABB, Itron Inc., GENERAL ELECTRIC, and Wasion Group among others.

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