Industry development and market prospects

1. Smart grid industry

The power industry is a basic energy industry related to the national economy and the people's livelihood. With the steady development of the global economy and the gradual improvement of people's living standards, the demand for electricity in various countries is increasing rapidly, which requires countries to continue to increase investment in power infrastructure, thus driving the construction of power grid. With the continuous innovation and breakthrough of new energy technology, intelligent technology, information technology and network technology, smart grid has become the inevitable choice for the development of global power energy transmission and distribution links, and a global upsurge of smart grid construction has been set off.

2. Smart electric meter is the cornerstone of smart grid.

As one of the key terminal products in the construction of smart grid, smart energy meter and information acquisition system products play an important role in supporting the informatization, automation and interaction of power grid. With the rapid growth of smart grid investment, its market and profit margin are also expanding rapidly. Intelligent meter is a new type of electronic watt-hour meter. It is composed of measuring unit, data processing unit and so on. It has the functions of electric energy measurement, real-time monitoring, automatic control, information exchange and data processing. Compared with ordinary ammeter, besides the basic function of electricity metering, it also has the functions of bidirectional multi-rate metering, client-side control, bidirectional data communication of multi-data transmission modes, anti-theft and other intelligent functions. Widespread application of smart electric meter can improve the operational efficiency of power enterprises, promote energy conservation and emission reduction, and enhance the stability of power system.

3. Market Capacity Forecast of global smart grid and smart meter

Countries around the world are committed to the planning and infrastructure of smart grid with the goal of stable and efficient power, energy saving, environmental protection and safe use. Successful operation of smart grid requires the establishment of a set of power consumption information management system, complete and real-time collection of power consumption information of each power user and analysis and processing, so deployment of AMI in the intermediate position between power supply and power consumption has become the primary task to promote the smooth development of smart grid, the premise is smart meter. Installation and replacement, so the entire power industry will eventually build an integrated smart grid with smart energy meter as an important link, which provides a promising opportunity for the smart meter industry in the future market expansion. Smart grid has become an important measure for developed countries and emerging economies to cope with environmental changes, develop green economy and improve energy efficiency. Countries around the world have formulated and promulgated plans and policies and taken concrete actions to accelerate the development of smart grid technology and industry. The social and economic development of countries and regions in the world is quite different, the development status of power industry is obviously different, and the characteristics and direction of smart grid construction are different. Based on its development conditions, technical basis and application requirements, countries and regions all over the world have their own emphasis on the deployment of promoting the development of smart grid. Between 2017 and 2022, global smart grid investment will increase from $20.83 billion to $50.65 billion, with a compound annual growth rate of 19.40%. At present, the number of meter users in the world, including industrial and commercial users and residential users, is huge. If smart meters are replaced completely, the market scale will be considerable. Widespread deployment and development of smart grid will promote the rapid development of smart energy meter market. It is estimated that the global smart electric meter market revenue will reach 14.26 billion US dollars in 2021, compared with 8.84 billion US dollars in 2016, the annual composite growth rate is 10%.