Metering ICs Market
Metering ICs have been built particularly to fulfill the needs of next-generation smart meter systems. It is used in energy meters to assist in the calculation of the total energy utilized. The global metering ICs market is expected to increase in response to rising need for an accurate, dependable, and cost-effective solution for energy measurement. Furthermore, the growing usage of smart meters for water, gas, and electricity measurement and real-time reporting of energy usage, which allows consumers to decrease electricity waste and save money. This factor is estimated to propel the global metering ICs market forward. Smart appliances frequently employ metering ICs. High-performance energy metering ICs are utilized in smart appliances for anti-tampering electricity meters, single-phase three-wire, and single-phase two-wire.
Smart metres not only monitor use of heat, water, gas, and electricity, but also facilitate communication between the meter and the data concentrator or cloud. Real-time reporting of energy use is sent directly to the consumer, allowing them to cut down on electricity waste and save money. The increased usage of metering ICs in wireless communication, industrial power monitors for servers, smart homes, smart appliances, and other applications is propelling the global metering ICs market forward. Furthermore, soaring government regulations for energy usage and surging use of metering ICs in smart appliances as a result of the advent of renewable energy sources, as well as demand for customized services to handle assets economically, are all contributing to the expansion of the global metering ICs market.
Metering ICs: Introduction
- Metering ICs are commonly deployed in energy meters, and helps the energy measuring meter to calculate the amount of energy consumed
- Metering ICs consist of a customer-programmable MPU core, RTC with battery backup, and a high-performance analog sensor interface combined with a dedicated 32-bit computation engine to handle all sample rate signal processing
- In recent years, the energy measurement integrated circuit industry has experienced significant expansion in meter products, owing to rising customer demand for an accurate, reliable, and cost effective product
- Additionally, government regulations, competitive forces, and technology innovations are fueling the extraordinary changes in the market
- Metering ICs are used in industrial smart appliances, smart homes, power monitors for servers, wireless communication, advanced billing schemes, and low power design
Rise in Demand for Metering ICs for Use in Smart Appliances
- Metering ICs are largely used in smart appliances. In smart appliances, high-performance energy metering ICs are used for single-phase two-wire, single-phase three-wire, or electricity meters with anti-tampering mode.
- Smart meters not only measure electricity, gas, water, or heat consumption, but also ensures communications from the meter to data concentrator, or cloud. Real-time reporting of energy consumption is directly reported to the consumer, which enables the consumer to reduce wastage of electricity and lower the expenses.
- Moreover, metering ICs are significantly used in smart appliances due to the emergence of renewable energy sources, increased regulations, and demand for customized services to manage assets cost-effectively and provide exceptional customer service
- Multiple manufacturers are focusing on development of innovative electricity meters with high accuracy and reliability, while lowering the total system cost
- Demand for metering ICs for smart appliances applications is growing as a result of these factors, which is expected to drive the global metering ICs market during the forecast period.
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North America to Lead the Metering ICs Market
- In terms of region, the global metering ICs market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- North America is anticipated to dominate the global metering ICs market throughout the forecast period, as a large number of manufacturers of metering ICs operate in the region
- Additionally, many well-established players based in North America are focusing on development of new technology in electricity meters which is expected to boost the metering ICs market in the region during the forecast period
- The metering ICs market in Europe and Asia Pacific is expected to expand at a substantial rate during the forecast period. On the other hand, the market in Middle East & Africa and South America is estimated to expand at a moderate pace during the forecast period.
Key Players Operating in the Global Metering ICs Market
The global metering ICs market was highly fragmented in 2019. Major players operating in the global market are focusing on technological advancements and expansions to meet the rising demand for metering ICs. Moreover, manufacturers are signing partnerships for the development of innovative products.
Key players operating in the global metering ICs market include:
- Analog Devices, Inc.
- Cirrus Logic, Inc.
- Microchip Technology Inc.
- NXP Semiconductors
- Renesas Electronics Corporation
- Silergy Corp
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Global Metering ICs Market: Research Scope
Global Metering ICs Market, by Function
- Apparent Energy (kVA)
- Active Energy (kWh)
- RMS Energy
- Reactive Energy (kVAR)
Global Metering ICs Market, by Type
- Single Channel
Global Metering ICs Market, by Application
- Smart Appliances
- Smart Homes
- Power Monitors for Servers
Global Metering ICs Market, by Region
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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