Prepaid Electricity Metering Market Report, Size, Share, Growth and Key Players 2022-2027
The latest report published by IMARC Group, titled “Prepaid Electricity Metering Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the market share. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global prepaid electricity metering market reached a value of US$ 5.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 8.4 Billion by 2027, exhibiting at a CAGR of 7.8% during 2022-2027. Prepaid electricity meters provide enhanced security and control and enable the users to pay for electricity in advance and keep track of the electricity consumed. The proper utilization of electricity represents one of the prime concerns around the globe. Prepaid metering is an optimum tool to keep track of electricity consumption and help budget energy bills. In addition to this, prepaid electricity meters aid in minimizing the cost of power supply and revenue realized by ensuring timely payments. As a result, prepaid electricity meters are witnessing huge demand across both developed and developing countries.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Market Trends:
The governments of various nations are actively working to replace existing meter systems with prepaid meters to reduce human intervention in billing, metering, and collection, eliminate errors, and enhance control and security. In line with this, the commercial and residential sectors are also gradually shifting from conventional to prepaid meters to conserve energy, which is accelerating the market growth. The rising awareness regarding energy conservation and surging demand for energy security are acting as growth-inducing factors. Apart from this, the growing requirement for electricity and increasing consumer expenditure power are some of the other factors creating a positive outlook for the prepaid electricity metering market.
Prepaid Electricity Metering Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the prepaid electricity metering market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Accenture Plc
- Aclara Technologies LLC (Hubbell Incorporated)
- Calico Energy Inc.
- Elster Group GmbH (Honeywell International Inc.)
- Exceleron Software Inc
- HCL Technologies Limited
- Infosys Limited
- Itron Inc.
- KAMSTRUP A/S
- Landis+Gyr
- Oracle Corporation
- PayGo Electric
- Siemens AG
- Wipro Limited
Key Market Segmentation:
The report has segmented the prepaid electricity metering market on the basis of type, component, phase, end user and region.
Breakup by Type:
- Thin Meter Based Solutions
- Thick Meter Based Solutions
Breakup by Component:
- Hardware
- Software
- Services
Breakup by Phase:
- Single Phase
- Three Phase
Breakup by End User:
- Commercial
- Industrial
- Residential
Breakup by Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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