Prepaid Electricity Metering Market 2022, Size, Trends, Top Companies and Industry Demand

The latest report by IMARC Group, titled “Prepaid Electricity Metering Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on the prepaid electricity metering market share.

The global prepaid electricity metering market reached a value of US$ 5.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 8.4 Billion by 2027, exhibiting at a CAGR of 7.8% during 2022-2027. Prepaid electricity meters enable users to pay for electricity in advance and keep track of the electricity consumed. It provides enhanced security and control to offer efficient utilization of electricity. In addition to this, prepaid electricity meters aid in minimizing the costs of power supply and revenue realized by ensuring timely payments. As a result, they are witnessing huge demand across developed and developing countries.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Prepaid Electricity Metering Market Trends:

  • The governments of various nations are mandating the use of prepaid electricity meters to reduce human intervention in billing, metering, and collection, which represents one of the prime factors driving the market growth.
  • The rising demand for energy security owing to the increasing electricity consumption has led to the rapid replacement of conventional electromechanical meters with prepaid electricity meters, which is creating a positive outlook for the market.
  • The increasing consumer expenditure power and the gradual shift of commercial and residential sectors towards prepaid electricity are bolstering the market growth.

Competitive Landscape With Key Players:

The competitive landscape of the prepaid electricity metering market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

  • Accenture Plc
  • Aclara Technologies LLC (Hubbell Incorporated)
  • Calico Energy Inc.
  • Elster Group GmbH (Honeywell International Inc.)
  • Exceleron Software Inc
  • HCL Technologies Limited
  • Infosys Limited
  • Itron Inc.
  • Landis+Gyr
  • Oracle Corporation
  • PayGo Electric
  • Siemens  AG
  • Wipro Limited

Key Market Segmentation:

The report has segmented the prepaid electricity metering market on the basis of type, component, phase, end user and region.

Breakup by Type:

  • Thin Meter Based Solutions
  • Thick Meter Based Solutions

Breakup by Component:

  • Hardware
  • Software
  • Services

Breakup by Phase:

  • Single Phase
  • Three Phase

Breakup by End User:

  • Commercial
  • Industrial
  • Residential

Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Turkey, South Africa, Others)

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Key Highlights of the Report:

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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Elena has been working in the market research industry for a while, wherein she has gained expertise knowledge and skills in creating tailored content based on client’s demands. Using her effective market research, writing, editing and proofreading skills, she has developed different forms of content, including reports, which has been published on the company’s website.
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