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Procurement Market Intelligence Report
Smart Meters
Sourcing Guide & Market Trends
Comprehensive intelligence for making smart purchasing decisions
Learn about actual and potential costs
How much should I pay for Smart Meters?
What is the average price of Smart Meters?
This procurement report includes pricing information to help you purchase Smart Meters. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.
Has the price of Smart Meters been rising or falling?
Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.
I’m not ready to purchase Smart Meters yet. Will I pay more if I wait too long?
We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.
What other costs are associated with purchasing Smart Meters?
Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Smart Meters with a reduced risk of unexpected costs.
See how we display average pricing information, trends and market data.
Find the vendor to meet your needs
Where can I purchase ?
The smart meters market has a moderate level of market share concentration, with the top four suppliers accounting for between 30.0% and 50.0% of the total market revenue. Meanwhile, the total number of suppliers in the United States is estimated to be 495. Although the top three suppliers, Itron,... Subscribe to learn more.
Questions to ask potential suppliers
How can I gain leverage during negotiations?
Experience and Expertise
How long have you provided these products to your longest-tenured client?
What qualifications does your staff have and what measures do you take to keep those qualifications up to date?
What industry do you most commonly supply this product for?
To what extent will ordering multiple products from your firm allow me to save on costs?
What is your repeat business rate for businesses in my industry and how does that compare to your overall rates?
Supply Chain Risk
Over the past three years, what percentage of your revenue has been dedicated to raw input materials? How has that changed?
Has the availability of raw materials tightened due to the coronavirus outbreak?
Over the past three years, what percentage of your revenue has been dedicated to labor?
How have fluctuations in input prices affected the prices of your products during the past three years?
How do you mitigate sudden price increases in raw materials?
When input prices rise, how much of the cost is absorbed by you and how much is passed onto buyers?
How, if at all, has your supply chain been affected by import tariffs levied in 2018?
Regulation
How do you manage regulatory change? Do you have regulation advisers or methods to track regulation?
How have changing regulations influenced your pricing now and how will the changes affect prices over the life our proposed agreement?
What ongoing training procedures do you provide for your staff?
Have you ever been found to be noncompliant with regulatory frameworks?
Amid widespread health concerns during the COVID-19 pandemic, what contingency plans are in place to mitigate risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?
Product Quality
How do you keep track of the quality of your smart meters?
What are your standards for testing a system's suitability for use?
What is the expected life span of your smart meters?
What is the most common customer complaint regarding your monitoring systems?
Can I test your smart meters prior to purchase? If so, how does the testing process work?
COVID-19
Do you source materials with high exposure to market disruptions resulting from the coronavirus pandemic? How are you coping with these disruptions?
How diversified is your supplier base for inputs? Do you source from multiple suppliers in different global regions?
Amid widespread health concerns, what contingency plans are in place to mitigate the risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?
Are you experiencing fluctuations in demand as a result of the coronavirus pandemic? What measures are you taking to handle changes in demand?
How have your products and services helped similar buyers operate efficiently during the pandemic?
What new products and services have you introduced to solve challenges brought on by the coronavirus pandemic?
Specifications
What level of customization do you offer?
How long is the turnaround for highly customized smart meter systems?
Are you able to offer smart meters tailored to my specifications, or are my options limited to configuring a preexisting model?
What makes your smart meters better suited to my particular application needs than other suppliers' smart meters?
Additional Services
What additional products and services beyond smart meters do you provide?
What bundling discounts do you offer for buyers purchasing multiple products and services at once?
What percentage of your revenue comes from monitoring systems specifically designed for my application?
What is the largest service or product segment your company provides?
Cost Containment
How many different suppliers do you use?
How long have you been in supply agreements with these vendors?
Do you own or maintain any upstream raw material operations?
What kinds of supply chain disruptions have you experienced or are most likely to occur?
What protocols do you have in place to mitigate the effects of supply chain disruptions?
How have you been coping with tariffs placed on imported input materials?
Purchase Costs
Who bears the cost of shipping?
How does shipping vary based on different delivery times?
Are setup and installation costs included in the purchase price?
What other services does your fee proposal include?
What additional fees, if any, might I encounter outside of those outlined in your proposal?
Financial Health
How likely is your company to be purchased or merged with another company during the next several years?
What has been your company's sales history during the past five years?
Is your company currently dealing with litigation or facing the prospect of litigation in the near future? If so, how do you plan to handle litigation expenses and consequences?
From which industries do you derive most of your revenue?
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Key elements for every RFP
What should my RFP include?
Project Budget
Buyers should specify their budgets for smart meters and any desired related services and goods.
Buyers should indicate when payment will occur, such as upon award of the contract or in installments over a period of time.
Selection Criteria
Buyers should look for vendors that offer devices that meet the requirements of the RFP.
Buyers should evaluate vendors based on previous client testimonials and their ability to provide quality customer service.
For a detailed list of key selection criteria, buyers should reference the Buying-Decision Scorecard section of this report.
Project Schedule
Buyers should provide the date and time when proposals are due and when award information will be available.
Buyers should include the RFP schedule and expected timeline for product delivery.
Evaluate major factors to mitigate risk
How risky is the supply chain?
The supply chain for smart meters is considered to have a moderate risk level, which somewhat hampers buyer power by increasing the risk of price fluctuations related to supply chain disruptions. In terms of inputs, semiconductors and electronic components, steel parts and plastic materials pose the greatest risk to the... Subscribe to learn more.