Prepaid Electricity Metering Market Outlook, Share, Size, Key Players, Growth and Industry Trends 2022-2027

According to IMARC Group’s latest report, titled “Prepaid Electricity Metering Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, 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 metering refers to a system that allows users to pay for electricity in advance. It measures the amount of electric energy consumed by residences or businesses. Prepaid metering is an excellent way of keeping track of electricity consumption and helps budget energy bills. Nowadays, prepaid electricity metering is gaining traction as various governments across the world are taking steps to replace the existing meter systems with prepaid meters to eliminate errors and enhance security and control while providing the option to keep track of the electricity consumed.

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Market Trends and Drivers:

The prepaid electricity metering market is primarily driven by the growing need for energy security and the efficient utilization of electricity. Prepaid electricity metering has reduced the gap between the power supply cost and the revenue realized by ensuring timely payments. As a result, commercial and residential sectors are shifting from conventional to prepaid meters, which, in turn, is fueling the growth of the market. Furthermore, various countries are looking for ways to minimize the losses caused due to electricity theft and the inability to make bill payments on time. Consequently, governments are implementing initiatives to encourage prepaid electricity metering as a way of controlling expenses and offering a hassle-free service. Besides this, the rising awareness regarding energy conservation is also creating a positive outlook for the market.

Prepaid Electricity Metering Market 2022-2027 Competitive Analysis and Segmentation:

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.
  • KAMSTRUP A/S
  • 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
  • Asia Pacific
  • Europe
  • Latin America
  • Middle East and Africa

Ask Analyst for Customization and Explore Full Report With TOC & List of Figures: https://bit.ly/3rpNpKd

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.

About Us

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 biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, and nanotechnology industries. We also provide cost model and manufacturing setup project reports through Syndicated Analytics, a subsidiary of IMARC Group.

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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