Future Market Insights
Electric-sub meter measures and records the electricity use for every individual unit of the structure instead of having a one common meter which estimates the whole energy utilization of the structure. Electric-sub meters are associated with downstream from primary utility meter and shows singular energy utilization of a private/business multi-storey buildings. Electric sub-meter enables building proprietors to charge individual resident or unit possesses for the major energy utilization and furthermore enabling individual unit owners to take measures to decrease the general energy utilization. Solutions of electric-whole meters in multi-storey spaces takes out extra operational expense, bringing about an several, financial, ecological, and value benefits for both the occupant and the structure proprietor.
Emergence of IoT to Upsurge Global Demand
Controlling decreasing, observing, and minute detailing of electrical use are developing significance to the present service providers especially from industrial and commercial segment. Extending normality and consistence necessities on energy the executives, and rising spotlight on distinguishing key pointers for proficient electricity use by modern, or business/and private multi-occupant building proprietors is the conspicuous factor infers the development of global electric-sub meter market. Besides, government command to introduce sub-meters at the season of development of another structure and extending and constant emergence in Internet of Things (IoT) advancements to change conventional energy solutions, further fills the development of global electric-sub meter market. In any case, absence of awareness about the potential advantages of energy board, is the key factor recognized as limitations liable to hamper the movement of global electric-sub meter market.
Continuous adoption to energy management solutions is the key factor contributes the growth of global electric-sub meter market. Electric-sub meter that records and measures the electricity usage for each individual unit of the building rather than having a single meter which measures the entire energy consumption of the building. Electric-sub meters are connected downstream from main utility meter and displays individual energy consumption of a residential/ commercial multi?unit buildings. Electric sub-meter allows building owners to bill individual tenant or unit owns for the actual energy consumption and also allowing individual unit owners to take measures to reduce the overall energy consumption. Deployment of electric-sum meters in multi-tenant spaces eliminates additional operational cost, resulting in a variety of environmental, economic, and equity benefits for both the tenant and the building owner.
Electric Sub-meter Market: Market Dynamics
Controlling monitoring, reducing, and granular reporting of electrical usage are growing importance to today’s facility managers particularly from commercial and industrial sector. Expanding regularity & compliance requirements on energy management, and rising focus on identifying key indicators for efficient electricity usage by industrial, or commercial/ and residential multi-tenant building owners is the prominent factor derives the growth of global electric-sub meter market. Continuous focus on developing efficient energy management strategies across commercial and industrial sector coupled with increasing interest on integrating sub-meters to cloud and big data software analytics to precisely analyse energy usage, accelerates the growth of global electric-sub meter market. Furthermore, government mandate to install sub-meters at the time of construction of a new building and expanding and continuous progression in Internet of Things (IoT) technologies to transform traditional energy infrastructure, further fuels the growth of global electric-sub meter market. However, lack of lack of public awareness about the potential benefits of energy management, is the key factor identified as restraints likely to deter the progression of global electric-sub meter market.
Electric Sub-meter Market: Segmentation
The global electric-sub meter market is segmented on the basis of type, by application and by region.
Electric sub-meter market: Segmentation on the basis of type
Socket Type/Electromechanical Sub-meter
Electric sub-meter market: Segmentation on the basis of application
Large Retail stores
Electric sub-meter market: Segmentation on the basis of region
Middle East & Africa (MEA)
Asia Pacific excluding Japan (APEJ)
Electric Sub-meter Market: Regional Outlook
Among all regions electric-sub meter market in North America is expected to dominate the market, due to high importance for energy management solutions. Asia-Pacific is projected to be the fastest growing electric-sub meter market, due to expanding commercial & industrial sector and continuous adoption of sub-meters for energy management and tenant billing
Electric Sub-meter Market: Competition Landscape
Some of the prominent players in the global electric-sub meter market include GE Digital Energy, Siemens AG, Kamstrup, Elster Group, Studebaker Submetering Inc., Leviton, Echelon, Nuri Telecom, E-Mon (Honeywell International Inc., Linyang Electronics, Schneider Electric, Chintim Instruments Submeter Solutions, Inc and LEM
MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.
The report provides the following information:
The main aim of the report is to:
MRR.BIZ is a leading provider of strategic market research. Our vast repository consists research reports, data books, company profiles, and regional market data sheets. We regularly update the data and analysis of a wide-ranging products and services around the world. As readers, you will have access to the latest information on almost 300 industries and their sub-segments. Both large Fortune 500 companies and SMEs have found those useful. This is because we customize our offerings keeping in mind the specific requirements of our clients.