Electric Sub-Meter Market

Electric Sub-Meter Market - Global Forecast to 2029

Report Code: UC-EP-6629 Apr, 2025, by marketsandmarkets.com

The Electric Sub-meter market is projected to grow from USD 12.24 billion in 2023 to USD 16.23 billion by 2029, at a CAGR of 5.8% during 2024–2029. Electric Sub-meters measure appliance-based electricity consumed by various locations within a building making monitoring of electricity consumption efficiently trackable. Applications include efficient cost allocation, optimization of productivity, and development of demand response strategies. The underlying trend driving the above market comprises increasing energy conservation measures, infusion of smart technologies, and growing adoption of renewable energy systems among the residential and commercial segments. Electric Sub-meters will, in consonance with global energy efficiency objectives, contribute to a significant carbon footprint reduction.

According to connection type, the Electric Sub-meter market is classified as follows- non-networked/Manual electric Sub-meters, and networked/Smart electric Sub-meters. They are the types of traditional devices that, more or less, require manual readings. This is the most widespread solution in the cost-conscious market or system, more than often from the previous or legacy systems. Although they are cheap and easy, their inability to monitor and analyze in real time is making them gradually replaceable with smart meters. The smart electric Sub-meters, however, are networked or smart, meaning they come pre-installed with sophisticated communication technologies that enable real-time data transmission and analytics. The predictive maintenance abilities, demand-side management, and IoT-enabled platform integration make these devices crucial to new-age energy management systems. The ability to work with smart grids increases the demand for these devices, especially in advanced residential and commercial setups.

The end-user segment of the Electric Sub-meter market is made up of Residential and Commercial sectors. In residential applications, electric Sub-meters are used for monitoring at the apartment or appliance level to allow proper cost appropriation and energy-saving behavior. Demand in this segment has been increasing because of heightened awareness of energy conservation coupled with increased adoption of smart home technologies. In commercial settings, electrical Sub-meters are essential monitoring tools in office buildings, shopping malls, institutions, etc., and provide a way of tracing the usage of energy on accurate allocation of the costs, tracing inefficiencies, and meeting regulations on energy use. The networked Sub-meters have become crucial in commercial applications due to real-time monitoring of energy consumption and enhanced operational efficiency.

Major players in the Electric Sub-meter market include Schneider Electric (France), Siemens AG (Germany), Honeywell International Inc. (US), GE (US), and ABB (Switzerland), among others. These companies focus on innovation, product development, and strategic partnerships to cater to the growing demand for electric Sub-meters.

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TABLE OF CONTENTS
 
1 INTRODUCTION 
    1.1. OBJECTIVE OF THE STUDY 
    1.2. MARKET DEFINITION 
    1.3. INCLUSIONS AND EXCLUSIONS 
    1.4. MARKET SCOPE 
           1.4.1. MARKET SEGMENTATION
           1.4.2. REGIONAL SCOPE
    1.5. YEARS CONSIDERED 
    1.6. CURRENCY 
    1.7. LIMITATIONS 
    1.8. STAKEHOLDERS 
 
2 RESEARCH METHODOLOGY 
    2.1. RESEARCH DATA 
    2.2. MARKET BREAKDOWN AND DATA TRIANGULATION 
           2.2.1. SECONDARY DATA
                    2.2.1.1. KEY DATA FROM SECONDARY SOURCES
           2.2.2. PRIMARY DATA
                    2.2.2.1. KEY DATA FROM PRIMARY SOURCES
                    2.2.2.2. KEY INDUSTRY INSIGHTS
                    2.2.2.3. BREAKDOWN OF PRIMARY INTERVIEWS
    2.3. MARKET SIZE ESTIMATION 
           2.3.1. BOTTOM-UP APPROACH
           2.3.2. TOP-DOWN APPROACH
           2.3.3. DEMAND SIDE ANALYSIS
                    2.3.3.1. ASSUMPTIONS FOR DEMAND SIDE ANALYSIS
                    2.3.3.2. DEMAND SIDE CALCULATION
           2.3.4. SUPPLY-SIDE ANALYSIS
                    2.3.4.1. ASSUMPTIONS FOR SUPPLY SIDE ANALYSIS
                    2.3.4.2. SUPPLY-SIDE CALCULATION
    2.4. FORECAST 
           2.4.1. RESEARCH ASSUMPTIONS
           2.4.2. LIMITATIONS OF RESEARCH
           2.4.3. RISK ASSESSMENT
 
3 EXECUTIVE SUMMARY 
 
4 PREMIUM INSIGHTS 
 
5 MARKET OVERVIEW 
    5.1. INTRODUCTION 
    5.2. MARKET DYNAMICS 
           5.2.1. DRIVERS
           5.2.2. RESTRAINTS
           5.2.3. OPPORTUNITIES
           5.2.4. CHALLENGES
    5.3. TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESS 
    5.4. SUPPLY/VALUE CHAIN ANALYSIS 
    5.5. ECOSYSTEM ANALYSIS 
    5.6. GLOBAL MACROECONOMIC OUTLOOK 
    5.7. CASE STUDY ANALYSIS 
    5.8. INVESTMENT AND FUNDING SCENARIO 
    5.9. IMPACT OF AI/GEN AI 
           5.10. TECHNOLOGIES
                    5.10.1. KEY TECHNOLOGIES
                               5.10.1.1. REAL TIME DATA ANALYTICAL  SUBMETER 
                               5.10.1.2. NETWORKED/SMART COMMUNICATION SUBMETER 
                    5.10.2. ADJACENT TECHNOLOGIES
                               5.10.2.1. NORMAL DIGITAL SUBMETER
           5.11. TRADE ANALYSIS (HS CODE: 9028)
           5.12. PATENT ANALYSIS
           5.13. KEY CONFERENCES & EVENTS IN 2025
           5.14. PRICING ANALYSIS
                    5.14.1. AVERAGE SELLING PRICE TREND OF KEY PLAYERS,  BY COMMUNICATION TYPE
                    5.14.2. AVERAGE SELLING PRICE TREND, BY REGION
           5.15. TARIFFS, CODE AND REGULATORY LANDSCAPE
                    5.15.1. TARIFF DATA FOR HS CODE 9028: GAS, LIQUID OR ELECTRICAL SUPPLY OR PRODUCTION METERS
                    5.15.2. REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    5.15.3. REGULATORY FRAMEWORK
           5.16. PORTER’S FIVE FORCES ANALYSIS
           5.17. KEY STAKEHOLDERS AND BUYING CRITERIA
                    5.17.1. KEY STAKEHOLDERS IN BUYING PROCESS
                    5.17.2. BUYING CRITERIA
 
6 ELECTRIC SUB METER MARKET, BY END USER  
(Value (USD Million) - 2022, 2023, 2024-e, 2030-f)          
    6.1. INTRODUCTION 
    6.2. RESIDENTIAL 
    6.3. COMMERCIAL 
 
7 ELECTRIC SUB METER MARKET, BY PHASE 
(Value (USD Million) - 2022, 2023, 2024-e, 2030-f)          
    7.1. INTRODUCTION 
    7.2. SINGLE PHASE  
    7.3. THREE PHASE  
 
8 ELECTRIC SUB METER MARKET, BY COMMUNICATION TYPE 
(Value (USD Million), Volume(Units) - 2022, 2023, 2024-e, 2030-f)          
    8.1. INTRODUCTION 
    8.2. DATA ANALYTICAL 
    8.3. NON DATA ANALYTICAL 
 
9 ELECTRIC SUB METER MARKET, BY CONNECTION TYPE 
(Value (USD Million) - 2022, 2023, 2024-e, 2030-f)
    9.1. INTRODUCTION 
    9.2. NON-NETWORKED/MANUAL 
    9.3. NETWORKED/SMART 
 
10 ELECTRIC SUB METER MARKET, BY REGION 
(Value (USD Million), Volume(Units) - 2022, 2023, 2024-e, 2030-f)          
     10.1. INTRODUCTION 
     10.2.  NORTH AMERICA 
               10.2.1. BY END USER 
               10.2.2. BY PHASE
               10.2.3. BY CONNECTION TYPE
               10.2.4. BY COMMUNICATION TYPE 
               10.2.5. BY COUNTRY
            10.2.5.1. US
                     10.2.5.1.1. BY END USER
            10.2.5.2. CANADA
            10.2.5.3. MEXICO
     10.3. EUROPE 
               10.3.1. BY END USER 
               10.3.2. BY PHASE
               10.3.3. BY CONNECTION TYPE
               10.3.4. BY COMMUNICATION TYPE 
               10.3.5. BY COUNTRY
            10.3.5.1. UK
                     10.3.5.1.1. BY END USER
            10.3.5.2. GERMANY
            10.3.5.3. FRANCE
            10.3.5.4. ITALY
            10.3.5.5. SPAIN
            10.3.5.6. POLAND
            10.3.5.7. REST OF EUROPE
     10.4. ASIA PACIFIC 
               10.4.1. BY END USER 
               10.4.2. BY PHASE
               10.4.3. BY CONNECTION TYPE
               10.4.4. BY COMMUNICATION TYPE 
               10.4.5. BY COUNTRY
            10.4.5.1. CHINA
                     10.4.5.1.1. BY END USER
            10.4.5.2. INDIA
            10.4.5.3. JAPAN
            10.4.5.4. AUSTRALIA
            10.4.5.5. SOUTH KOREA
            10.4.5.6. REST OF ASIA PACIFIC
     10.5. SOUTH AMERICA 
               10.5.1. BY END USER 
               10.5.2. BY PHASE
               10.5.3. BY CONNECTION TYPE
               10.5.4. BY COMMUNICATION TYPE 
               10.5.5. BY COUNTRY
            10.5.5.1. BRAZIL
                     10.5.5.1.1. BY END USER
            10.5.5.2. ARGENTINA
            10.5.5.3. CHILE
            10.5.5.4. REST OF SOUTH AMERICA
     10.6. MIDDLE EAST AND AFRICA 
               10.6.1. BY END USER 
               10.6.2. BY PHASE
               10.6.3. BY CONNECTION TYPE
               10.6.4. BY COMMUNICATION TYPE 
               10.6.5. BY COUNTRY
            10.6.5.1. GCC
                     10.6.5.1.1. SAUDI ARABIA
                                    10.6.5.1.1.1. BY END USER
                     10.6.5.1.2. UAE
                     10.6.5.1.3. REST OF GCC COUNTRIES
            10.6.5.2. SOUTH AFRICA
            10.6.5.3. ISRAEL
            10.6.5.4. EGYPT
            10.6.5.5. TURKEY
            10.6.5.6. REST OF MIDDLE EAST AND AFRICA
 
11 COMPETITIVE LANDSCAPE 
     11.1. KEY PLAYER STRATEGIES/RIGHT TO WIN 
     11.2. MARKET SHARE ANALYSIS OF KEY PLAYERS, 2024 
     11.3. REVENUE ANALYSIS OF TOP 5 PLAYERS, 2020-2024 
     11.4. COMPETITIVE SCENARIO AND TRENDS 
     11.5. BRAND/PRODUCT COMPARISON 
     11.6. COMPANY VALUATION AND FINANCIAL METRICS 
     11.7. COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024 
               11.7.1. STARS
               11.7.2. EMERGING LEADERS
               11.7.3. PERVASIVE PLAYERS
               11.7.4. PARTICIPANTS
               11.7.5. COMPANY FOOTPRINT: KEY PLAYERS, 2024
            11.7.5.1. Company Footprint
            11.7.5.2. Region Footprint
            11.7.5.3. Connection Type Footprint
            11.7.5.4. Communication Type Footprint
            11.7.5.5. Phase Footprint
            11.7.5.6. End User Footprint
     11.8. COMPANY EVALUATION MATRIX: START-UPS/SMES, 2024 
               11.8.1. PROGRESSIVE COMPANIES
               11.8.2. RESPONSIVE COMPANIES
               11.8.3. DYNAMIC COMPANIES
               11.8.4. STARTING BLOCKS
               11.8.5. COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2024 
            11.8.5.1. Detailed List of Key Startups/SMEs
            11.8.5.2. Competitive Benchmarking of Key Startups/SMEs
               11.8.6. 
 
12 COMPANY PROFILES 
     12.1. SCHNEIDER ELECTRIC 
               12.1.1. Business Overview
               12.1.2. Products & Services
               12.1.3. Recent Developments
               12.1.4. MnM View
     12.2. HONEYWELL INTERNATIONAL, INC. 
     12.3. SIEMENS 
     12.4. KAMSTRUP 
     12.5. GE 
     12.6. LARSEN & TOUBRO LIMITED 
     12.7. LEGRAND 
     12.8. ABB 
     12.9. EATON 
             12.10. SOCOMEC GROUP
 
13 APPENDIX 
     13.1. INSIGHTS OF INDUSTRY EXPERTS 
     13.2. DISCUSSION GUIDE 
     13.3. KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     13.4. CUSTOMIZATION OPTIONS 
     13.5. RELATED REPORTS 
     13.6. AUTHOR DETAILS 

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