The US Smart Meter Market: Size, Trends & Forecast with Impact Analysis of COVID 19 (2021-2025)

Table of Contents

1. Executive Summary

2. Introduction
2.1 Smart Meter: An Overview
2.2 History of Smart Meter: Timeline
2.3 Smart Meter: Advantages and Disadvantages
2.4 Smart Meter Segmentation: An Overview
2.4.1 Smart Meter Segmentation by Product
2.4.2 Smart Meter Segmentation by Service Type
2.4.3 Smart Meter Segmentation by Connectivity
2.4.4 Smart Meter Segmentation by End-user

3. The US Market Analysis
3.1 The US Smart Meter Market: An Analysis 
3.1.1 The US Smart Meter Market by Value
3.1.2 The US Smart Meter Market by Product (Smart Water Meter, Smart Electricity Meter, Smart Gas Meter)
3.1.3 The US Smart Meter Market by End User (Residential, Commercial, Industrial)
3.1.4 The US Smart Meter Market by Installations
3.2 The US Smart Meter Market: Product Analysis 
3.2.1 The US Smart Water Meter Market by Value
3.2.2 The US Smart Electricity Meter Market by Value
3.2.3 The US Smart Gas Meter Market by Value
3.3 The US Smart Meter Market: End-User Analysis 
3.3.1 The US Residential Smart Meter Market by Value
3.3.2 The US Commercial Smart Meter Market by Value
3.3.3 The US Industrial Smart Meter Market by Value

4. Impact of COVID
4.1 Impact of COVID-19 
4.1.1 Impact of COVID-19 on the US Smart Meter Market
4.1.2 Impact of COVID-19 on the US Distribution Companies
4.1.3 New Opportunities of Smart Meter

5. Market Dynamics 
5.1 Growth Driver
5.1.1 Rapid Urbanization
5.1.2 Rising Concern over Carbon Dioxide (CO2) Emissions
5.1.3 Increased Investment in Smart Meters
5.1.4 Demand for Sustainable Utility Supply for all End-users
5.1.5 Growing Popularity of Smart Homes in US 
5.1.6 Improvement in Wireless Network Infrastructure
5.1.7 Supportive Government Initiative
5.2 Challenges
5.2.1 High Cost Involved
5.2.2 Health and Security Concerns
5.3 Market Trends
5.3.1 Advent of Industry 4.0
5.3.2 Advance Features of Smart Meters
5.3.3 Growing Synergies between Communication Companies And Utilities
5.3.4 Availability of Data Analytics for Real Time

6. Competitive Landscape
6.1 The US Smart Meter Market Players: A Financial Comparison
6.2 The US Smart Meter Market Players by Research & Development (R&D) Expenses

7. Company Profiles
7.1 Honeywell International Inc. (Elster Group)
7.1.1 Business Overview
7.1.2 Financial Overview
7.1.3 Business Strategy
7.2 Schneider Electric SE
7.2.1 Business Overview
7.2.2 Financial Overview
7.2.3 Business Strategy
7.3 Itron Inc.
7.3.1 Business Overview
7.3.2 Financial Overview
7.3.3 Business Strategy
7.4 Landis + Gyr 
7.3.1 Business Overview
7.3.2 Financial Overview
7.3.3 Business Strategy

List of Figures
Figure 1: Smart Metering Process
Figure 2: History of Smart Meter: Timeline
Figure 3: Advantages and Disadvantages of Smart Meters
Figure 4: Smart Meter Segmentation by Product
Figure 5: Smart Meter Segmentation by Service Type
Figure 6: Smart Meter Segmentation by Connectivity
Figure 7: Smart Meter Segmentation by End-user
Figure 8: The US Smart Meter Market by Value; 2019-2020 (US$ Billion)
Figure 9: The US Smart Meter Market by Value; 2021-2025 (US$ Billion)
Figure 10: The US Smart Meter Market by Product; 2020 (Percentage, %)
Figure 11: The US Smart Meter Market by End User; 2020 (Percentage, %)
Figure 12: The US Smart Meter Market by Installations; 2016-2020 (Million)
Figure 13: The US Smart Meter Market by Installations; 2021-2025 (Million)
Figure 14: The US Smart Water Meter Market by Value; 2019-2020 (US$ Billion)
Figure 15: The US Smart Water Meter Market by Value; 2021-2025 (US$ Billion)
Figure 16: The US Smart Electricity Meter Market by Value; 2019-2020 (US$ Billion)
Figure 17: The US Smart Electricity Meter Market by Value; 2021-2025 (US$ Billion)
Figure 18: The US Smart Gas Meter Market by Value; 2019-2020 (US$ Billion)
Figure 19: The US Smart Gas Meter Market by Value; 2021-2025 (US$ Billion)
Figure 20: The US Residential Smart Meter Market by Value; 2019-2020 (US$ Billion)
Figure 21: The US Residential Smart Meter Market by Value; 2021-2025 (US$ Billion)
Figure 22: The US Commercial Smart Meter Market by Value; 2019-2020 (US$ Billion)
Figure 23: The US Commercial Smart Meter Market by Value; 2021-2025 (US$ Billion)
Figure 24: The US Industrial Smart Meter Market by Value; 2019-2020 (US$ Million)
Figure 25: The US Industrial Smart Meter Market by Value; 2021-2025 (US$ Billion)
Figure 26: Benefits of Smart Metering for DISCOMs
Figure 27: The US Urban Population; 2015-2020 (Percentage, %)
Figure 28: The US Carbon Dioxide Emissions; 2019-2022 (Billion Metric Tons)
Figure 29: The US Investment in Smart Meters; 2015-2019 (US$ Billion)
Figure 30: The US Electricity Generation by Major Energy Source; 2016-2020 (Billion KilowattHours)
Figure 31: The US Number of Smart Homes; 2017-2025 (Million)
Figure 32: The US Manufacturing Investment in IoT; 2017 & 2022 (US$ Billion)
Figure 33: The US Smart Meter Market Players by Research & Development (R&D) Expenses; 2019-2020 (US$ Million)
Figure 34: Honeywell International, Inc. Net Sales; 2016-2020 (US$ Billion)
Figure 35: Honeywell International, Inc. Net Sales by Segments; 2020 (Percentage, %)
Figure 36: Honeywell International, Inc. Net Sales by Region; 2020 (Percentage, %)
Figure 37: Schneider Electric SE Revenue; 2016-2020 (US$ Billion)
Figure 38: Schneider Electric SE Revenue by Segment; 2020 (Percentage, %)
Figure 39: Schneider Electric SE Revenue by Region; 2020 (Percentage, %)
Figure 40: Itron Inc. Net Revenue; 2016-2020 (US$ Billion)
Figure 41: Itron Inc. Net Revenue by Segments; 2020 (Percentage, %)
Figure 42: Itron Inc. Net Revenue by Region; 2020 (Percentage, %)
Figure 43: Landis + Gyr Net Revenue; 2016-2020 (US$ Billion)
Figure 44: Landis + Gyr Net Revenue by Region; 2020 (Percentage, %)

List of Tables
Table 1: The US Federal Government Infrastructure Funding Programs
Table 2: The US Smart Meter Market Players: A Financial Comparison; 2020

Executive Summary

Smart meter refers to an energy meter that is able to provide detailed and often real-time readings, of electricity consumption in the building, business or home. The smart meter is also communicative and transmits the information collected using different channels (power line, Internet, telephone).

The smart meter market is segmented on the basis of product (Smart electricity meters, smart gas meters, and smart water meters), services (installation), and end-users (residential, commercial, and industrial). While most of the industries worldwide suffered a negative impact of COVID-19, the US smart meter market witnessed a mixed impact on it. Initially, the market witnessed a fall in the supply and shipment of smart meters, however the demand for smart meters were high during the pandemic. Later in the year, the supply nearly matched the demand. There were hindrances in the instalment of smart meters, due to prolonged lockdowns, limited manpower and a fear of spread of the virus, which made people hesitant to allow installation of smart meters. The demand for smart meters rose majorly in the residential areas.

The US smart meter market has increased significantly during the years 2019-2020 and projections are made that the market would rise in the next four years i.e. 2021-2025 tremendously. The US smart meter market is expected to increase due to the improvement in wireless network infrastructure, rapid urbanization, raising concerns about carbon emission, growing demand to switch to sustainable utility supply, supportive government initiatives, increased investment in smart meters, and growing popularity of smart homes, etc. Yet the market faces some challenges such as high cost involvement, health and security concerns, etc.

Companies Mentioned

• Honeywell International Inc. (Elster Group)
• Itron Inc.
• Landis + Gyr.
• Schneider Electric SE