United Kingdom (UK) Smart Meter Market Overview, 2027

Smart meters are superior to traditional meters because they eliminate estimated billings and display real-time usage readings. A smart meter measures the electric current flow and voltage at regular time intervals to calculate the power used in 15 or 30 minutes. Similarly, water and gas usage are also effectively monitored. Further, with the advent of AMI meters, switching suppliers has become easy. The smart meters can be monitored regularly through the display unit or through apps installed on mobile phones. They give readings every 15 to 30 minutes. They can be either prepaid or pay-as-you-go billing systems on usage. Governments worldwide are pushing their populace to install smart meters in their residences, offices, or industrial premises to monitor the effective usage of scarce resources like water, electricity, and gas. Smart meters have gained momentum as initial costs are spread over the billing cycles and fall easy on the consumer's pocket.

According to the report titled United Kingdom (UK) Smart Meter Overview, 2027, the Smart Meter market is to grow rapidly over the forecast period in developing countries. The recent rise of renewable energy and distributed generation resources only increases demand for smart technology to mitigate grid volatility. Smart meters use the same technology as cell phones, such as 3G, 4G, and now 5G, which emit far less radiation than cell phones. Since the smart meters are placed exterior to the property, they are assumed to have low exposure to radiation from them. Power Line Communication (PLC) and Cellular Technology are the most commonly used communication technologies for smart meters. Single phase smart meters are installed as they are capable of integrating into a complete AMI solution for achieving Smart Grid benefits. Communication options including optical, RF, and GPRS are used. Tamper alerts are available and event logging with active energy, voltage, and current snaps is available along with power failure alerts. Power thefts can be identified and resolved quickly. Gas leaks and unwanted use of water can be monitored easily and that can result in lowering consumer bills.

Residential smart meters are being installed on a large scale around the world through government programmes and initiatives. Public-private partnerships are ideal for fast installation processes to be achieved in the country. Home automation is on the rise, and when coupled with a smart meter, it can prove to be a bill saver for the consumer. Smart meters are two-way communication devices with the power grid, creating potential efficiencies and cost savings for both consumers and energy providers. Power companies generally aggregate the information collected and then transmit it back to consumers and businesses, often with recommendations for cost and usage-saving measures. Due to their two-way communication property, sometimes consumers are concerned about their information leakage and safety. Additionally, in some cases, unregulated smart meter implementations have caused safety concerns.

Consumers are increasingly adopting smart meters as they can easily track their energy usage, water usage, or gas usage in real time. These can save on water wastage, electricity overuse, or detect gas leaks quickly. Also, power outages are quickly reported to the utility providers, and a faster resolution time can be achieved. The smart meters regularly display energy billings to both suppliers and users. Varied communication technologies are used, such as LAN or WAN. The meters are also capable of monitoring their efficient performance by reporting any internal memory problems or if the terminal covers are removed to the supplier to take corresponding action to resolve it. The restraints on the smart meter vary from customer to customer as they face different problems. Some meters caught fire due to faulty meter panels being installed. However, out of millions of smart meters installed, only a few cases have been registered for a fire outbreak on the property. Consumers are also weary of the amount of radiation projected through these smart meters that may lead to memory loss, dizziness, headaches, or even cancer. Though these claims are not scientifically proven yet.

Commercial installations of smart meters are increasing rapidly, with the construction industry booming with new complexes and buildings. Smart commercial spaces are also further creating demand for smart meters. Since commercial places are spread wide and on a number of floors, it is hard to monitor energy that is used unnecessarily and to effectively monitor this, a smart electric meter is required. These are a better way to monitor business energy usage in real time. Businesses can get lower bills as they get more accurate billings and no estimations. However, not every business is yet eligible for a smart meter due to a poor signal network or existing meters that do not allow for replacement with new technology meters.

COVID-19's Impact on the Solid-State Drive Market:

The COVID-19 pandemic slowed the implementation processes for smart meters due to the imposed lockdowns in almost all major countries. They are not covered under essential products. This adversely affected the smart meters owing to less focus on the development of the end users' industry. Apart from this, manufacturing and supply chain delays were also witnessed, which put a challenge to the smart meters. Governments had to shift focus on consumer health rather than non-essential services, and projects had to be halted or postponed to a later period. Also, infrastructure development came to a standstill as construction activities were stopped.

Considered in this report

• Geography: United Kingdom (UK)
• Historic Year: 2016
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027

Aspects covered in this report

• United Kingdom (UK) Smart Meter market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Type of Smart Meter in the report:

• Electricity Meter
• Gas Meter
• Water Meter

By End User of Solid-State Drive in the report:

• Residential
• Industrial
• Commercial

By Technology in the report:

• Automotive Meter Reading
• Advanced Metering infrastructure

By Component in the report:

• Hardware
• Software & Services

By Phase in the report:

• Single Phase
• Three Phase

By Communication Type in the report:

• Cellular Technology
• Radio Frequency
• Power Line communication
• Other Communication Types

The approach of the report:

This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning. Post this we have started doing primary calls to industry people by equally segmenting in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.