European smart electric market is projected to rise at a CAGR of approximately 9.9% during the forecast period. The strict norms and regulations towards adoption of advanced meter system to accurately track electricity consumption will boost the European smart electric meter market share. The European Union Directive 2009/72/EC ordered the member countries to compulsorily take initiatives for adopting advanced electric meters as a means of ensuring efficient electricity consumption. The Europe 2020 energy efficiency targets are pushing smart meter initiatives ahead quickly. The European Commission proposed to update the energy savings target from 20% of the projected primary energy by 2020 to 30% by 2030. Another requirement for energy utilities is to save 1.5% per year by adopting energy-efficient technologies and management strategies. Such energy saving initiatives will boost the demand for smart electric meters in industries as well as household. 

The increasing electricity consumption in Europe is further boosting the demand for smart electric meter to reduce electricity consumption, and save money. Smart electric meters are ideal for smart grid and power quality sensitive applications. They come with a wide variety of features including higher accuracy, and enables in constantly calibrating revenue meters. Smart electric meters also provide data storage for trending power consumption graphs and further enable the analysis. 

The European Energy Services Directive (2006/32/EC) recognizes smart meters as one of the major ways to improve energy efficiency. As per Electricity Directive (2009/72/EC), it is mandatory for 80% of consumers to be equipped with smart meters by 2020, which further enable to have a positive impact on the economy for long term cost and benefits. Government mandates in the UK, France, and Spain are expected to drive the growth of smart electric meter penetration in Europe by 2020. Department for Business, Energy & Industrial Strategy and The Office of Gas and Electricity Markets (OFGEM) in the UK have mandated utility providers to install smart electric meter in every household by 2020. 

Research Methodology

The market study of the Europe Smart Electric Meter market is incorporated by extensive primary and secondary research conducted by the research team at OMR.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for smart electric meter manufacturers, distributors and suppliers, and other related companies for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. European Smart Electric Meter Market Research and Analysis by Communication Technology
2. European Smart Electric Meter Market Research and Analysis by Phase
3. European Smart Electric Meter Market Research and Analysis by Applications

The Report Covers

• Comprehensive research methodology of the Europe Smart Electric Meter market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Europe Smart Electric Meter market.
• Insights about market determinants which are stimulating the Europe Smart Electric Meter market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.