The global smart meter market is expected to reach US$30.19 billion at 2026. Electricity plays a vital role in the energy and power industries. The increasing need to maintain data in order to avoid any uncalculated consumption has driven the demand for smart meters. These meters help improve the efficiency of the power network because they are fully digital and involve measuring and collecting data. These meters are the strong pillars behind the smart grid. Now, the company is developing smart meters that can not only collect data, but also collect data for consumption billing. These factors force consumers to replace their traditional electricity meters with smart and advanced electricity meters. These new meters can monitor electricity consumption daily or monthly and send meter readings directly to the company. There is no manual activity involved in generating bills or recording readings. Driven by this advantage, the smart meter market is expected to grow at a considerable rate in the next few years. Compared with traditional electricity meters, smart meters remain transparent in terms of bill generation between consumers and power companies. Due to the increasing popularity of renewable energy sources such as wind and solar energy, smart meters are infiltrating developing and developed countries.
With the increase of the rural electrified population, the demand for electricity continues to increase, leading to the continuous increase of electricity demand in many countries. Smart meters provide power companies with many advantages, including real-time data to avoid power outages, real-time and accurate monitoring of the system, and reduction of electricity costs based on demand. These smart meters provide customers with continuous electricity consumption feedback, reduce system failures or power outages, and can automatically adjust electricity consumption to control high-priced bills, thereby providing customers with advantages. Taking into account concerns about high energy consumption, it is expected that the adoption of smart meters will increase by 2026. Smart meters use new technologies such as General Packet Radio Service (GPRS) to achieve two-way communication between the system and consumers. This further helps to save energy and ultimately reduce energy emissions. Another major trend observed in this market is that people are turning to the concept of mobile smart homes. This has led to the automatic control of light, energy and electricity to avoid the emergence of energy waste. Therefore, the demand for smart meters is growing at an alarming rate.
And Holley Technology Ltd is the key company under Holley which is committed to electricity metering and systems integration industry. We are a global enterprise engaged in R&D, manufacturing, and sales of smart water meters, smart electric meter, smart gas meters and systems. In response to the “big health industry ecology” strategic objectives determined by Holley Group, Holley Technology Ltd are strive to build a smart energy management and application industries ecosystem. The core of our ecosystem is energy management, the pillar is Internet of Things(IoT) technology, and the platform is the Internet technology. We are devoted to become the madder of Wireless Internet of Things Industry standard and the provider of whole solution program.
Post time: Oct-15-2021