The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), Latin America Smart Metering Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape.
In-Depth Market Overview of Latin America Smart Metering Industry (2023-2028):
According to the latest report, The Latin America Smart Metering Market is valued at around USD 10.88 million units in 2024 and is projected to grow at a CAGR of around 8.16% during the forecast period, i.e., 2023-28. The report demonstrates the prominent factors propelling the exponential growth of the Latin America Smart Metering industry.
Key Takeaways: Beneficial for Stakeholders and Clients:
- Historical Data: 2019-22
- Base Year: 2023
- Forecast Period: 2023-28
- CAGR (2023-2028): 8.16%
- Market value (2024): USD 10.88 million
What are the major Driver the Latin America Smart Metering industry?
Installation of Smart Meter in Residential Sector to Monitor Electricity Usage - Countries in Latin America have been installing smart metering systems for efficient management of electricity usage and monitoring the energy consumption of its residential sector. These smart meters are installed with advanced technology and are ideal for predictive analysis, which allows the government and the distribution companies to identify transmission and distribution (T&D) losses. For instance, in 2021, as per the Brazilian Electricity Regulatory Agency, the estimated overall energy losses in the T&D networks were around 17%. As a result, the use of smart meters enables them to control & ration electricity usage in the residential sector at the time of energy crisis.
Along with it, the residential sector is one of the major energy-consuming sectors in the Latin America region. For instance, in 2021, Chile and Uruguay announced their plans to roll out smart grids and installation of smart meters in the residential sector. Therefore, to optimize the electricity use the government has been encouraging the adoption of smart metering solutions in the region, positively impacting the demand for smart meters across the region, which further will enhance the market share during 2023-2028.
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Latin America Smart Metering Market Segmentation
The Latin America Smart Metering Market analysis of Markntel Advisors explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
- By Type of Meter
- Smart Electric Meters- Market Size & Forecast 2018-2028F, USD Million
- Smart Gas Meters- Market Size & Forecast 2018-2028F, USD Million
- Smart Water Meters- Market Size & Forecast 2018-2028F, USD Million
- By Technology
- Automatic Meter Reading (AMR)- Market Size & Forecast 2018-2028F, USD Million
- Advanced Metering Infrastructure (AMI)- Market Size & Forecast 2018-2028F, USD Million
- By Component
- Hardware- Market Size & Forecast 2018-2028F, USD Million
- Software- Market Size & Forecast 2018-2028F, USD Million
- By Communication
- Radio Frequency- Market Size & Forecast 2018-2028F, USD Million
- Power Line Communication- Market Size & Forecast 2018-2028F, USD Million
- Cellular Network- Market Size & Forecast 2018-2028F, USD Million
- By Analytical Tools
- Load Forecasting Analysis- Market Size & Forecast 2018-2028F, USD Million
- Preventive Analysis- Market Size & Forecast 2018-2028F, USD Million
- Predictive Analysis- Market Size & Forecast 2018-2028F, USD Million
- Others (Tamper Analysis, Diagnostic Analysis, etc.) - Market Size & Forecast 2018-2028F, USD Million
- By Data Storage
- Cloud- Market Size & Forecast 2018-2028F, USD Million
- On-Premise- Market Size & Forecast 2018-2028F, USD Million
- By End User
- Residential- Market Size & Forecast 2018-2028F, USD Million
- Commercial- Market Size & Forecast 2018-2028F, USD Million
- Industrial- Market Size & Forecast 2018-2028F, USD Million
- By Countries
- Mexico
- Brazil
- Argentina
- Chile
- Columbia
- Peru
- Rest of Latin America
As per the regional aspect, the Latin America Smart Metering Market is expected to be dominated by Brazil by capturing the potential market share.
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Top Companies in the Latin America Smart Metering Market
Kamstrup Spain SL, Sensus [Eylem Brand], Honeywell Inc., General Electric Company, Itron, Landis+Gyr, Aclara Technologies, Siemens AG, Schneider Electric SE, Holley Technology Ltd., Others
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