Strategic Perspectives on Electric Sub Meter Market: Charts Course for 6% CAGR, Analysis and Forecast for 2028

How big is the Global Electric Sub Meter market?

According to MarkNtel Advisors study, the Global Electric Sub Meter market is projected to grow at a CAGR of around 6% during the forecast period, i.e., 2023-28.

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Global Electric Sub Meter Market Key Trend:

Increasing Adoption of Smart Metering to be a New Market Trend – The adoption of smart meters has been an emerging trend in the market, gaining wide installation in residential, commercial, and industrial buildings. Smart meters are advanced digital devices that provide real-time electricity consumption data to both consumers & utility companies & enable remote reading, two-way communication, and help consumers in monitoring & optimize their energy usage. This continuous flow of information allows consumers to access detailed insights into their energy consumption patterns, helping them to take wise decisions about their electricity usage and, ultimately, reducing their energy bills.

Leading Companies in the Global Electric Sub Meter market:

Bentec Electricals & Electronics Pvt. Ltd.
General Electric
Genus Power Infrastructures Ltd.
Hexing Electric Co. Ltd.
Itron Inc.
Kamstrup A/S
Leviton Manufacturing Co. Inc.
Mitsubishi Electric Corporation
Osaki Electric Co. Ltd
Schneider Electric
Siemens AG
Xylem Inc.
Others

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Global Electric Sub Meter Market Segmentation:

By Product

Smart Sub-Meter
Electronic Sub-Meter (Non-Socket Type)
Electromechanical Sub-Meter (Socket Type)

Smart Sub Meters are anticipated to dominate the Global Electric Sub Meter Market with the largest share during the forecast period.

By Phase

Single Phase
Three Phase

By End-User Application

Industrial
Residential
Commercial

Regional/ Countries Insight:

North America
South America
Europe
The Middle East & Africa
Asia-Pacific

The Asia-Pacific region would witness considerable growth in the forecast period owing to a rise in the construction of residential & commercial buildings.

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