Submetering products and solutions are gathering considerable steam among utility providers and consumers alike in efficient energy management system. End users in residential and commercial sector are leaning on adopting submetering solutions for managing power costs and conserving energy across individual loads. The electric submeter market is stridently making strides on the back of consumer proposition of monitoring energy usage across equipment, departments, individual residents, or any combination thereof. Electric submeters have thus formed a key part of the overall framework of building automation system.
Advancements in data collection and analysis technologies in submeters have augmented the benefits of submetering products notably in commercial and industrial sites. Manufacturers of electric submeters are keenly expanding real-time energy usage features. The proposition is fueling demand in the electric sub-meter market. The possibilities are vast. According to a study by TMR, the global valuation is expected to exceed US$ 7.7 Bn by the end of 2030.
Smart, Digital Submetering Solutions Gather Traction Among in Commercial & Residential End-users
The changing requirements of submetering applications in commercial and residential buildings has stridently shaped the evolution contours of the electric submetering market. Digital metering solutions have enormously boosted the capabilities of submetering solutions. These have risen in demand to upgrade older systems as well as finding demand in new metering installations. The ease-of-installation and use, intuitive user interface, vast data storage and analysis capabilities, have gathered steam among potential end users.
Smart submetering solutions, noticeably along with internet-of-things (IoT) are being viewed with game-changing potential in energies and utilities industry. The dynamic control and optimization features are a major attractiveness quotient for end users. A number of businesses in manufacturing and process industries in developing and developed regions have become early adopters. This is evident in the rise in sales of products in the electric sub-meter market in many European countries and in North America. Factory owners in particular are harnessing the potential of digital metering solutions powered by IoT for optimizing energy usage, for instance
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