May.2024 26
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The global market of smart meter 2024

Introduction
As the important application of latching relay, the smart meter market is becaming more competitive and mature.
Details

As the important application of latching relay, the smart meter market is becaming more competitive and mature.

According to the latest research report from Global Market Insights, the global smart meter market will exceed $ 11 billion by 2024.

The continuous increase in the demand for accurate billing and efforts to save energy will promote the growth of the global smart meter market. The rapid development of power grids and investment growth in smart grids will further expand the business structure.

The rising energy prices and more and more electric stolen phenomena will further promote product demand. According to a report from the 2013 International Monetary Fund, global power theft has exceeded $ 100 million. Terminal users are increasingly worried about the accuracy of billing, which may have a positive impact on the industry scale.

With the increase in power demand, the US Revolution and Reinforcement Act (ARRA) requires strict provisions for accurate billing, which will expand the size of the American smart meter market. The US Department of Energy and ARRA jointly invested US $ 30 billion in 2009 to promote extensive sustainable energy projects and improve their existing smart grids.

The strict regulations using intelligent systems to accurately track electricity consumption will increase the market share of the smart meter. EU instructions 2009/72/EC requires member states to take measures to increase consumers' understanding of the benefits of using these products. 2014/724/EU instructions provide guidance to regulatory agencies to protect consumer consumption data.

In terms of shipments, Britain accounted for more than 20%of the European smart meter market in 2016. For the Ministry of Commerce, Energy and Industrial Strategy, the Office of Natural Gas Power Market has instructed public utility suppliers to install these products in each family by 2020 to save electricity.

By 2024, the size of the smart meter market of automatic watch reading technology is expected to exceed $ 4 billion. Traditional automatic watch readings are programmed to collect the readings and match the consumer data of public business providers. With technological progress, other data parameters can be set in these products to achieve remote control. These products warned when the instrument tampering, low battery power, and leakage detection.

As more and more developed countries such as the United States, the United Kingdom, Sweden, Norway, and Japan have adopted advanced technology, the automatic measurement infrastructure (AMI) system will further develop. These products provide enhancement functions, such as response action and pricing based on different time.

Due to the use of automatic measurement infrastructure products, the Japanese smart meter market is expected to transform. In August 2015, Tokyo Electric Power Company launched the deployment plan of more than 2.7 million smart systems across the country, and provided 24 -hour customer support services through the smart instrument operation center.

The main participants in the smart meter market include Siemens, Ecnovation, Schneider Electric, LANDIS+GYR, Oshizaki Electric, Honeywell International, Elston Group, Clou Electronics, Linyang Energy, Adnet, Samsung Electric and so on. As an important core component magnetic retirement relay as an important core component magnetic meter, it provides the function of disrupting power control for the meter. Yongneng Electronics has always provided a stable and reliable relay solution for many meter brands, maintaining a good cooperative relationship with Schneider Electric, Clou Electronics, Linyang Energy, Adnet, Samsung Electric and other brands.
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