Introduction: Navigating the Competitive Landscape of Power Metering
The power metering market is experiencing a major change, due to rapid technological developments, the stricter regulatory environment and the growing expectations of consumers for energy efficiency and transparency. The leading players, including metering system suppliers, IT service companies and network operators, are competing in the market for leadership, using the latest technological developments such as AI-based analytics, IoT and automation solutions. These innovations not only enhance operational efficiency, but also enable the power companies to provide consumers with important insights. The new entrants, especially the AI start-ups that focus on the development of real-time data analytics and on the development of preventive maintenance, are transforming the business models of established suppliers and putting pressure on the established suppliers. Looking ahead to 2024 and 2025, the most promising growth opportunities are expected in Asia-Pacific and North America, where strategic deployment of smart metering solutions is expected to change the energy consumption patterns and lead to the development of a competitive advantage.
Competitive Positioning
Full-Suite Integrators
These vendors offer comprehensive solutions that integrate hardware, software, and services for power metering.
| Vendor | Competitive Edge | Solution Focus | Regional Focus |
|---|
| Siemens |
Strong global presence and innovation |
Smart grid solutions |
Global |
| Schneider Electric |
Sustainability-focused technology |
Energy management and automation |
Global |
| General Electric |
Diverse industrial expertise |
Energy and power systems |
Global |
| ABB |
Leading in electrification and automation |
Power and automation technologies |
Global |
Specialized Technology Vendors
These vendors focus on niche technologies and solutions within the power metering space.
| Vendor | Competitive Edge | Solution Focus | Regional Focus |
|---|
| Itron |
Advanced metering infrastructure |
Smart metering solutions |
North America, Europe |
| Kamstrup |
Innovative water and energy metering |
Smart metering solutions |
Europe, Asia |
| Landis+Gyr |
Focus on utility solutions |
Smart metering and grid solutions |
Global |
| Sierra Wireless |
IoT connectivity expertise |
Wireless communication solutions |
Global |
Infrastructure & Equipment Providers
These vendors supply essential equipment and infrastructure for power metering applications.
| Vendor | Competitive Edge | Solution Focus | Regional Focus |
|---|
| Rockwell Automation |
Industrial automation leadership |
Automation and control systems |
North America, Europe |
| Emerson Electric |
Process automation expertise |
Automation solutions |
Global |
| Mitsubishi Electric |
Diverse electrical equipment portfolio |
Electrical and automation systems |
Asia, Global |
| Fluke Corporation |
Precision measurement tools |
Test and measurement equipment |
Global |
| Honeywell |
Integrated technology solutions |
Building and energy management |
Global |
| Eaton |
Power management expertise |
Electrical components and systems |
Global |
Emerging Players & Regional Champions
- Energym (US): Energym is a smart metering specialist with a focus on energy efficiency and real-time data analysis. They have just been awarded a contract with a major energy supplier to implement their smart grid technology. Energym is taking on the established suppliers like Schneider and Siemens by offering a more flexible and intuitive solution.
- The American GridPoint has a cloud-based energy management system which integrates power metering and IoT. In recent years, it has teamed up with several real estate companies to enhance energy management, and has become a competitor of traditional metering companies by providing data analysis and machine learning functions.
- Belgian Smappee: Smappee focuses on solutions for home and small business energy monitoring. Its unique offering is multi-energy monitoring (gas, electricity and water). Smappee has just launched a partnership with a European energy supplier to offer an integrated energy management solution, which complements the offerings of larger players by addressing the growing residential energy efficiency market.
- This is an Australian company which supplies real-time energy monitoring solutions for both residential and commercial applications. They recently worked with a local government to monitor and manage the energy efficiency of public buildings. They are challenging the established market leaders with their low-cost, scalable solutions, which are tailored to the Australian market.
Regional Trends: In 2023, a marked trend toward the adoption of smart meters in North America and Europe is expected, driven by regulatory mandates for energy efficiency and conservation. The integration of the Internet of Things (IoT) will continue to increase, enabling the real-time analysis of data and better energy management. Moreover, the residential energy monitoring market is growing in importance, especially in high-energy-cost regions, as consumers look to reduce their energy bills and carbon footprint.
Collaborations & M&A Movements
- Siemens and Schneider Electric have teamed up to develop smart metering solutions that will help to make cities more energy-efficient and sustainable, thus strengthening their position in the growing smart grid market.
- Strategically, Itron acquired Silver Spring Networks to broaden its portfolio of smart metering solutions and expand its presence in the North American market. The deal was a response to the growing demand for energy management solutions.
- The two companies are now launching a new suite of energy management tools based on the Internet of Things, with the aim of giving electricity companies improved data-analytical capabilities and a better position in the changing world of electricity metering.
Competitive Summary Table
| Capability | Leading Players | Remarks |
|---|
| Smart Metering |
Siemens, Schneider Electric, Itron |
Siemens has installed advanced smart metering systems in a number of European cities, which have made them more energy-efficient. Schneider Electric’s EcoStruxure platform combines IoT and real-time monitoring, while Itron’s solutions are based on data analytics for better utility management. |
| Data Analytics |
Oracle, IBM, Honeywell |
Oracle’s Utility Analytics Platform uses artificial intelligence to optimize energy distribution. IBM’s IoT Platform provides real-time data to optimize the performance of machinery. Honeywell’s digital insights help energy companies increase customer engagement and optimize operations. |
| Integration with Renewable Energy |
GE Digital, Siemens, Schneider Electric |
The digital solutions of GE Digital make it easier to integrate these energy sources into the grid. Similarly, the smart grid of Siemens and the energy management of Schneider Electric facilitate the easy handling of wind and solar energy. |
| Cybersecurity |
Cisco, Palo Alto Networks, Fortinet |
In addition to the standard security framework, Cisco has developed a security framework that is adapted to the specific needs of the utility sector. Palo Alto focuses on threat detection and response in critical energy systems, and Fortinet offers integrated security solutions to protect against cyber threats in smart metering. |
| Customer Engagement |
Engie, Duke Energy, E.ON |
Engie has developed customer-friendly platforms that allow people to interact with their energy consumption data. The Duke Energy mobile app allows people to monitor their energy use and manage their bills, while E.ON is focusing on delivering a bespoke energy service to increase customer satisfaction. |
Conclusion: Navigating Power Metering's Competitive Landscape
In 2023 the metering market will be characterized by intense competition and fragmentation, with both the old and new players fighting for market share. The regional trends are towards more focus on compliance with regulations and on the importance of energy efficiency. The vendors are responding to these trends by offering more specialized and smarter products and services. The old players are focusing on their established reputation and their distribution network, while the new players are concentrating on advanced features such as artificial intelligence, automation and flexibility. The vendors will be differentiated by their ability to integrate sustainable practices and provide flexible solutions. Strategically, the vendors need to be able to align their product development and marketing efforts to take advantage of these trends and stay competitive in a rapidly changing environment.
