France Smart Meters Market
The France smart meters market is evolving as part of the country’s broader efforts to modernize its energy infrastructure and enhance energy efficiency. The French government has been actively promoting the adoption of smart meters through various initiatives and regulatory measures aimed at improving grid management and consumer engagement.
One of the key drivers of the French smart meters market is the Linky smart meter rollout program, which is managed by Enedis, the distribution network operator. The Linky program aims to install smart meters in all households and businesses across France by the end of 2021. This ambitious initiative is part of France’s commitment to transitioning towards a smarter and more sustainable energy system, in line with the country’s energy transition goals and European Union directives.
Smart meters in France enable real-time monitoring of energy consumption, which helps consumers make informed decisions about their energy use and reduce their bills. Additionally, these meters facilitate more accurate billing and improve grid reliability by providing utilities with detailed consumption data and enabling better management of electricity supply and demand.
The French market is characterized by the involvement of key players such as Enedis, Schneider Electric, and Landis+Gyr, who are providing advanced smart metering solutions to support the Linky program and other smart grid initiatives. These companies are focused on developing innovative technologies that enhance the functionality and efficiency of smart meters.
Challenges such as ensuring widespread adoption, addressing data privacy concerns, and integrating smart meters with existing infrastructure may impact market growth. However, France’s strong regulatory support and commitment to energy efficiency are expected to drive continued development and deployment of smart meters in the country.
The smart meters market size is predicted to touch USD 44,936.27 million at a 8.15% CAGR during the forecast period (2024- 2032), states the latest Market Research Future (MRFR) report.
Attractive Features that Spur Market Growth
As per the latest MRFR report, there are numerous factors that are propelling the smart meters market share.
Smart Meters Market Drivers/Smart Meters Market Trends
Increasing Government Investments to Boost Market Growth
The increasing government investments for supporting smart meter installation in end use sectors like commercial, residential, and industrial are likely to boost the smart meters market revenue over the forecast period.
Opportunities
Communication Network Infrastructure Development to offer Robust Opportunities
The continuous and ongoing communication network infrastructure development contributes towards the manufacturing of advanced and innovative level of smart meters. Besides, the availability of network infrastructure like 4G, 5G, radio frequency, and others propels the development of smart meters. Manufacturers are constantly engaged in the production of advanced level of smart meters as per the growing network infrastructure which is likely to offer robust market opportunities in the forecast period.
Restraints
High Installation & Maintenance Cost to act as Market Restraint
The high installation & maintenance cost of smart meters is likely to act as key market restraints over the forecast period. Besides, the device’s compatibility issue is another cause of restraint that may impede market growth.
Challenges
Lack of Awareness to act as Key Market Challenge
The absence of awareness regarding the benefits of smart meters coupled with demand for mobilization may act as a key market challenge over the forecast period.
COVID-19 Impact on Smart Meters Market
Due to the COVID-19 outbreak, there has been a reduction in the profitability of businesses in almost every industry. The power sector however has not been much negatively impacted in comparison to other sectors, the consumption of electricity by commercial and industrial customers is noticeably less. Besides, the power sector has experienced a price reduction trend and falling demand across the globe. Various regions, which also includes European countries are impacted heavily and have recorded all-time low electricity prices during the initial quarter of the financial year 2020. Besides, owing to the outbreak’s severity, most industries are laying emphasis on essential work which led to a pause on the installation of electric components. Different hardware device manufacturers in the smart grid market have faced various issues associated with closures owing to the global lockdown.
Con Edison (US) for instance has halted all meter installations and readings of smart meters. Besides, Fitch Ratings in March revised the outlook of the revenue growth of Con Edison. The revised outlook highlights on the company’s weakened credit metrics. The company’s revenue had been affected by escalation of bad debt expense and reduced kilowatt-hour sales. The utilities across the world have announced the suspension of disconnection owing to delayed payment plans and non-payment of customers because of the pandemic, leading to earnings downgrades. Government-imposed lockdowns in most cities are likely to curb the demand for electricity, impeding the sales of utilities and other organizations working in the power sector. ABB (Switzerland) for instance, a global market leader in the power industry indicated that it faced a fall in profitability in 2020 because of lower production volumes in its business in comparison to the sales volume in 2019.
Market Segmentation
- By Type
By type, the water meters segment will lead the market over the forecast period for the increasing demand to monitor and optimize water consumption, increase need for accurate billing, increase in investment interest in digitalization of electrical systems, efforts to expand grid infrastructures, and increasing demand for electricity from residential and commercial sectors.
- By Technology
By technology, the automatic metering infrastructure segment will dominate the market over the forecast period as this is the most rapidly rising technology.
- By Application
By application, the residential segment will spearhead the market over the forecast period for increasing power consumption, economic and technological advances, and growing government support for mandatory smart meter rollout projects.
Regional Analysis
APAC to Have Lions Share in Smart Meters Market
The Asia Pacific region will have the lions share in the market over the forecast period. Growing demand in economically powerful countries like Thailand and India, increasing adoption in China, growing emphasis to reduce carbon emissions from utility operations, effective integration of DER like wind and solar power for improved power sector operations, the high adoption of smart technology in power grid infrastructure, increasing challenges like aging T&D infrastructure, growing smart city projects in Thailand, India, and China, the growing need for energy owing to improvements in lifestyles and escalating population level, and increase in investment in T&D are adding to the smart meters market growth in the region. The region will grow at a 9.91% CAGR.
Key Players
Eminent players profiled in the smart meters industry report include Siemens AG. (Germany), Landis+Gyr (Switzerland), Schneider Electric (France), Aclara Technologies LLC (U.S.), Zenner (Germany), Xylem, Inc. (U.S.), Honeywell International Inc. (U.S.). Itron Inc. (U.S.), EDMI (Singapore), Apator Group (Poland), Badger Meter, Inc. (U.S.), DIEHL Metering (Germany), and Kamstrup A/S (Denmark) among others.
Industry Updates
HPL Electric and Power has received production clearance and approval from leading private distribution company to implement NB-IoT based smart meters in parts of Delhi. These meters are 5G and 4G compatible. With this technology, the problems and interference arising because of public network congestion will not impede the performance of smart meters anymore because data will flow smoothly via a dedicated channel.
More
Trending Reports:
Comments