Tech Innovation to Boost Growth in the Global Electric Sub-meter Market Through 2030 August 25, 2021
Electric Sub-meter Market: Introduction
Transparency Market Research delivers key insights on the global electric sub-meter market. In terms of revenue, the global electric sub-meter market is estimated to expand at a CAGR of ~4% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global electric sub-meter market.
Electrical sub-meters measure energy usage after it reaches the primary utility meter. It offers the ability to monitor energy usage for individual tenants, departments, pieces of equipment, or other loads, to account for their actual energy usage. The global electric sub-meter market is broadly affected by several factors, including usage of electric sub-meters for monitoring, controlling, and managing proper energy at commercial and industrial sites across the world. Thus, expanding applications of electric sub-meters in commercial as well as industrial sectors is propelling the global electric sub-meter market.
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Electric Sub-meter Market: Dynamics
Stringent government regulations for the installment of electric sub-meters are directly expected to facilitate the growth of the global electric sub-meter market during the forecast period. For instance:
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In the U.S., 22 states, three counties, and Washington, D.C. have acts, guidelines, or verdicts on utility sub-metering
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In the UAE, the electric sub-meter regulation states that “All buildings with a cooling load of at least one (1) megawatt (MW) or gross floor area of 5,000 sq.m or greater, additional electrical sub-metering (of tariff class accuracy) must be installed to record demand and consumption data for each major energy-