USD 48 BN MARKET POTENTIAL IN SMART METER MARKET
Download PDFDisruption—as countries set OUT TO MODERNIZE THEIR ELECTRIC GRIDS, SMART CITIES INTEGRATED WITH RENEWABLE ENERGY GENERATION is the next big trend: USD 45 BillioN of potential opportunity is opening up for Smart meter ecosystem
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Real-time monitoring of utility systems WILL DRIVE INVESTMENTS IN expansion and modernization, PRESENTING HUGE GROWTH OPPORTUNITIES for smart Meter COMPANIES
Increasing focus on energy savings and strong government initiatives to reduce carbon emissions CAN DISRUPT THE DEMAND FOR SMART meterS, IN TURN, IMPACTING THE GROWTH of the MARKET
TOP SMART METER MARKET GROWTH STORIES
MNM helped a top American power monitoring and quality equipment manufacturer to increase its market penetration for smart meters - A USD 19 BILLION GLOBAL MARKET
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MNM recently assisted a multinational energy and automation solution provider, to penetrate the USD 5.6 BN APAC distribution automation market
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MNM helped a client understand the regulatory frameworks, associated risks, tariff structure and overall demand response scenario in Germany, the UK, and Spain
Download PDFSmart Meter MARKET IS ESTIMATED TO GROW AT A Moderate CAGR OF 8.0–9.0% IN THE COMING 5 YEARS, DRIVEN BY Supportive government policies and financial incentives
MnM RESEARCH FOCUSES ON HIGH-GROWTH & NICHE MARKETS–such as Advanced metering infrastructure, Power Metering, SMART GRIDS, AND RELATED MARKETS
WHY DO COMPANIES NEED HELP TO GROW?
ABSENCE OF ORIGINAL RESEARCH:
- Complex and overlapping markets for library prep and target enrichment kits, hence difficult to calculate market potential and TAM
- Insufficient secondary research for strategic decisions
INTELLIGENCE IS NOT DEMOCRATISED:
- Client unmet needs need to be understood by all market facing employees for new product development and vendor selection.
- Bleak knowledge about upcoming technologies and growing applications such as consumer electronics and healthcare applications
MARKET PRIORITIZATION:
- Lack of sensor technology knowledge and practice in competitive intel, pricing and product features, especially in sensors
SOME UNKNOWNS & ADJACENCIES
- Adoption levels of automation in sensors is low. Currently it ranges between 30-40% globally, however, in developed countries it is approaching 50%. As automation reduces TAT, helps in minimization of errors and provides reproducible results, it is largely used in consumer electronics and healthcare applications
- Increasing focus on personalized health tracking drive the sensors in wearables market
- Markets such as sensors in healthcare, sensors in automotive, and sensors in manufacturing provide immense growth opportunities owing to rising popularity of IoT and connected devices
- In target enrichment, developed countries use compact devices are mostly preferred
GROWTH PROBLEMS ENCOUNTERED BY SMART METER MARKET COMPANIES
Customer prioritization and assessing unmet needs:
- What are the disruptions in our clients’ businesses? How can we support them for our own growth?
- Who are the most potential customers going forward? Should we prioritize consumer electronics, healthcare, enterprise & industrial applications or aerospace & defense companies?
- What are the key unmet needs of customers? Who are the key stakeholders in different settings? Do vendor selection criteria differ by settings? Which new product features should be added to the existing products?
Where to Play:
- Which applications and technologies should we focus on? Should it be AR/VR, Precision Agriculture, Manufacturing, Commercial Electronics, or any other?
- Which regions should we place our bets on? Should we continue with developed countries or do developing countries offer more growth opportunities?
Building a compelling Right to Win (RTW):
- For M&A, which are the right targets for us? Should we target AR/VR, Precision Agriculture, Manufacturing, Commercial Electronics, or any other? Should we enter new markets directly or through partners?
- How can we differentiate from top players? What is their right-to-win vs ours?
OBSTACLES TO GROWTH FOR CURRENT PLAYERS
- Not able to keep pace with fast evolving sensor industry – New technologies are emerging leading to decreasing cost of devices
- Many start-ups and emerging companies eating up market share of established companies
- Limited clarity on unmet needs, hence requirements for product features
- Limited clarity on relevant vs redundant sensor devices for the future
- Unclear picture about the regulatory and reimbursement scenario
KEY UNCERTAINTIES/ PERSPECTIVES WHICH INDUSTRY LEADERS SEEK ANSWERS TO:
KEY QUESTIONS OF SMART METER MARKET COMPANIES
- Which sensor technology will be relevant and redundant in the next 5 years?
- Can smart sensor devices become affordable?
- How can companies optimize the manufacturing processes to be more agile and efficient to achieve a more features which higher efficiency?
- What regulatory policies can help strategize and achieve higher sales?
- What can be done to increase the awareness of smart sensor devices in healthcare applications?
KEY QUESTIONS OF COMPANIES IN ADJACENT MARKETS
- What are the regulations surrounding data privacy and security?
- Which machine learning approaches can be used to address data limitations so that AI models do not lead to misleading insights or faulty predictions?
- How are companies handling machine bias?
- When can a 100% AI integration into smart sensor devices be expected?
- What will be the impact of automation on smart sensor market?
LEADERS ACROSS VARIOUS FUNCTIONS IN SENSOR COMPANIES NEED HELP IN TACKLING BELOW INTERCONNECTED REVENUE RELATED PROBLEMS (1/3)
LEADERS ACROSS VARIOUS FUNCTIONS IN SENSOR COMPANIES NEED HELP IN TACKLING BELOW INTERCONNECTED REVENUE RELATED PROBLEMS (2/3)
LEADERS ACROSS VARIOUS FUNCTIONS IN SENSOR COMPANIES NEED HELP IN TACKLING BELOW INTERCONNECTED REVENUE RELATED PROBLEMS (3/3)
What is driving change
in your business
- Product life cycles getting shorter.
- Ecosystems getting converged.
- Newer technologies and new use-cases disrupting.
- New markets, new geographies, new clients, competition and partners.
Are changes only impacting you or your clients and their clients as well?
The trial will be a guided tour by our representative to help you discover the shift in revenue sources of your clients and clients' clients that will impact your revenue. This is your opportunity to unlock the research IP worth $100 million
mnm RESEARCH FOCUSES ON HIGH-GROWTH & NICHE MARKETS–such as Advanced metering infrastructure, Power Metering, SMART GRIDS, AND RELATED MARKETS
INDICATIVE LIST OF OTHER PROJECTS EXECUTED FOR SMART METER MARKET COMPANIES:
- STUDY
- Advanced Metering Infrastructure Market
- Blockchain in Energy Market
- Digital Utility Market
- Energy and Utilities Analytics Market
- Energy as a Service Market
- Energy Management System
- Meter Data Management System Market
- Intelligent Flow Meter Market
- Power Metering Market
- Power Quality Meter Market
- Smart Cities Market
- Smart Electric Meter Market
- Smart Grid Market
- Smart Gas Meter Market
- Smart Meters Market
- Smart Water Metering Market
- Ultrasonic Flow Meter Market
- Utility Asset Management Market
REVENUE IMPACT STORY OF LEADING ORGANIZATIONS ENTERING THE SMART METER MARKET
impacting you and
your clients
SMART METER MARKET COMPANIES
DARRICK HUEBER,
BUSINESS DEVELOPMENT LEADER,
NEXUS CONTROLS LLC
We partnered with MarketsandMarkets to expand our business further by tapping into new industrial segments. It was critical for us to gather crucial business insights about specific markets to achieve this goal. MarketsandMarkets engagement model and client services helped us provide those insights, it was really impressive and valuable for my business. The team was extremely flexible and helpful
KIMBERLY MURPHY,
GLOBAL MARKETING DIRECTOR,
BENTLY NEVADA
MarketsandMarkets™ showed consistent rigor for success and relentlessly worked with Bently Nevada stakeholders to positively impact go-to-market strategy. Their proactiveness and flexibility has been instrumental in achieving the objectives to grow our sales pipeline in key industrial markets.
MIKE SCHOFF,
GLOBAL INDUSTRIAL COMMERCIAL STRATEGY LEADER,
NEXUS CONTROLS LLC
We consulted MarketsandMarkets for potential Partner Identification. Overall, it was a good experience. The insights provided through interviews conducted by the team helped us put together the questionnaire required for discussion with the selected partners. Their ability to provide insights through interviews with customers in a timely manner was quite impressive.
Second Panel
Third Panel
