Discover trends, market shifts, and competitive outlooks for the electric sub meter industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research

What is the Anticipated CAGR of the Electric Sub Meter Market, and What Factors Will Drive It?

The size of the electric sub meter market has seen robust growth in the past few years. The market is expected to inflate from $9.77 billion in 2024 to $10.65 billion in 2025, with a compound annual growth rate (CAGR) of 9.0%. This growth in the previous period can be credited to factors such as increasing demand for energy-efficient solutions, stricter regulatory demands for energy tracking, escalating urbanization, growth in commercial and residential building expansion, enhanced focus on sustainability, the evolution of smart grid infrastructure, and the widespread adoption of renewable energy sources.

Robust growth is anticipated in the electric sub meter market size within the forthcoming years, with expectations to balloon to an impressive $14.94 billion by 2029, boasting a compound annual growth rate (CAGR) of 8.8%. This expected expansion within the forecast period can be largely accredited to elements such as augmented necessity for energy efficiency, emerging government policies encouraging smart grid systems, escalated uptake of renewable energy sources, expansive urbanization and infrastructure evolution, an increased requirement for meticulous energy monitoring in both industrial and domestic sectors, and an intensified emphasis on electricity cost reduction. Principal trends in the forecast period incorporate advancements in the integration of IoT for live data monitoring, assimilation of smart meters for energy governance, invention of avant-garde billing methods, uptake of cloud-oriented platforms for data analytics, and the implementation of wireless sub metering.

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How Are Key Drivers in the Industry Acting as Catalysts for the Growth of the Electric Sub Meter Market?

The surge in embracing renewable energy sources is predicted to accelerate the expansion of the electric sub-meter market. Renewable energy, hailing from perpetually renewing natural resources like solar, wind, and geothermal power, is sustainable and eco-friendly. It aids in curbing greenhouse gas emissions and combating climate change. The increasing employment of renewable energy is stimulated by its environmental benefits such as the reduction in greenhouse gas emissions and climate change alleviation. Electric submeters play a crucial role in overseeing and refining renewable energy systems by scrutinizing the generation, usage, and dispersion of energy harnessed from solar, wind, and hydro sources. For example, the World Resources Institute, a non-profit organization based in the US, reported in February 2024 that the United States saw a record-breaking installation of 31 gigawatts (GW) of solar energy capacity in 2023. This marked a substantial 55% boost from the installations in 2022 and outdid the preceding record established in 2021. Hence, the rise in the employment of renewable energy sources propels the electric sub-meter market.

Which Segments in the Electric Sub Meter Offer the Most Growth?

The electric sub metermarket covered in this report is segmented –

1) By Type: Non-Socket Or Electronic Sub-Meter, Socket Or Electromechanical Sub-Meter, Current Transformer, Feed-Through Sub-Meter

2) By Phase: Single Phase, Three Phase

3) By Application: Residential, Commercial, Industrial

Subsegments:

1) By Non-Socket Or Electronic Sub-Meter: Digital Non-Socket Sub-Meter, Smart Non-Socket Sub-Meter, Wireless Non-Socket Sub-Meter

2) By Socket Or Electromechanical Sub-Meter: Analog Socket Sub-Meter, Digital Socket Sub-Meter, Mechanical Socket Sub-Meter

3) By Current Transformer: Instrument Current Transformers, Protection Current Transformers, Measurement Current Transformers

4) By Feed-Through Sub-Meter: Single-Phase Feed-Through Sub-Meter, Three-Phase Feed-Through Sub-Meter, Smart Feed-Through Sub-Meter

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What Are the Fastest-Growing Geographies in the Electric Sub Meter Market?

North America was the largest region in the electric sub meter market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electric sub meter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Are the Strategic Trends Steering the Electric Sub Meter Market Direction?

Leading firms in the electric sub-meter market are prioritizing technological progression, like the inclusion of cloud computing platforms into energy meters. This helps to improve the precision of data, facilitate real-time energy surveillance, and supply high-tech analytics to optimise energy use and minimize operational expenses. The cloud computing platform is an online setup that offers services in data storage, processing, and management. To illustrate, ABB Ltd., a Swiss automation firm, in February 2022, introduced the M1M series of electrical measuring and power monitoring meters for the digital panel meter. The M1M series provide cost-effective submetering for commercial and industrial buildings, getting integrated with ABB’s cloud platform for all-encompassing system supervision and energy enhancement. These meters increase electrical system capability by delivering a complete suite of measurement functions.

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What Are the Key Elements That Define the Electric Sub Meter Market?

An electric sub-meter is a device used to measure and monitor electrical usage for a specific area or tenant within a larger electrical system. It operates similarly to a central electricity meter but is typically used to track the electricity consumption of individual units or zones within a building. Electric sub-meters are helpful for landlords, property managers, and facility operators to ensure fair billing and efficient energy management.

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