Global Smart Gas Meter Market – Overview
Smart gas meter market The size is expected to be worth $ 3.55 billion by 2027, registering a CAGR of 5.24% during the forecast period (2021 – 2027). The market was valued at USD 2.12 billion in 2020.
Smart gas meters allow its end users to monitor gas usage by displaying accurate real-time data and advanced data analysis of everyday gas usage. They automatically send the collected data to the supplier using a wireless meter reading network allowing them to read meters remotely using wireless meter reading software or a portable unit , thus saving time and energy for users. The data collected also includes information on gas consumption, valve status, battery status, etc. Smart gas meter market can close the valve and shut off the gas supply on the valve close control from the wireless software or the portable unit, thus eliminating the risk of probable accidents in cases such as gas leaks, etc. Likewise, the valve open control will restart the gas supply. Due to the many advantages like controlling energy consumption etc., smart gas meters are increasingly replacing traditional meters, and its market is experiencing significant growth in recent times.
Accrediting the kind of traction the market is currently garnering, currently demonstrating the growth prospects around the world, Future Market Research recently released a study report, which indicates that the global smart gas meter market is expected to expand from here. 2023, recording a staggering CAGR from 2017 to 2023..
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Factors driving the growth of the global smart gas meter market include; the growing government initiatives and mandates to implement smart gas meters in household and commercial applications in recent times by publicizing the smart and efficient uses of these meters. Major players such as Itron, Landis + Gyr and Sensus play an important role in the development of important infrastructure necessary for the implementation of smart grids at ground level.
However, there is a compatibility issue that is hampering the adoption of smart gas meters. Most of the smart gas meters are effectively made compatible with their suppliers, which means that these supposedly smart meters installed in households are not adaptable to the connections of the other supplier / competitor. Changing the supplier would make the meter no longer “smart”, but revert to a silent mode that is no different from traditional meters that are decades old. Advancement in technology is already underway to eliminate this problem by introducing a new centralized communication network.
Global Smart Gas Meter Market – Competitive Analysis
The global smart gas meter market appears to be highly competitive and diverse with the presence of many established players having regional and global presence. Innovation, mergers and acquisitions, and brand building remain key trends for major players in the smart camera market.
Industry / Innovation / Related news:
January 16, 2018 – Landis + Gyr announced the release of Command Center 7.2, the latest version of its operating platform for the company’s Advanced Metering Infrastructure (AMI) networks. Command Center 7.2 lays the foundation for the next generation of IoT connectivity to the building by supporting new devices and managing peer-to-peer communications over the network. It also allows for better integration with other utility software products.
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Global Smart Gas Meter Market – Segments
For the convenience of the report and better understanding; The MRFR analysis is segmented into 3 key dynamics;
- By product: Includes diaphragm, turbine. Rotary among others.
- By Application: Residential and Commercial.
- By Regions: North America, Europe, APAC and Rest of the World.
Global Smart Gas Meter Market – Regional Analysis
North America and Europe are estimated to have a dominant share in the smart gas meter market. Another important market for smart gas meters is the United States. Government policy mandates and tax incentives have been the main drivers of demand for smart gas meters. In addition, the region is the hub of major manufacturers, which has a positive influence on the growth of the market. During the forecast period, political mandates and government fiscal incentives were the main drivers of demand for smart gas meters. The European region is expected to experience the fastest growth over the next five years. However, the Asia-Pacific region is also expected to register a considerably high growth rate during the forecast period. The increase in investments due to government initiatives and deployments is expected to be a major factor in the growth of the European market.
Table of contents
1 Executive Summary2 Research Methodology3 Market Dynamics4 Global Smart Gas Meter Market, by Reactor Type5 Global Smart Gas Meter Market, by Strategy6 Global Smart Gas Meter Market, by Capacity7 Regional Market Analysis8 Competitive Analysis9 List of Tables10 List of Figures
11 List of tables
TABLE 1 MARKET SYNOPSIS 14
TABLE 2 LIST OF ASSUMPTIONS 17
TABLE 3 GLOBAL SMART GAS METER MARKET, BY PRODUCT, 2020-2027 (MILLION USD) 32
TABLE 4 GLOBAL SMART GAS METER MARKET, BY APPLICATION, 2020-2027 (MILLION USD) 35
TABLE 5 GLOBAL SMART GAS METER MARKET, BY REGION, 2020-2027 (MILLION USD) 38
TABLE 6 NORTH AMERICA: SMART GAS METER MARKET, BY COUNTRY, 2020-2027 (MILLION USD) 39
TABLE 7 NORTH AMERICA: SMART GAS METER MARKET, BY PRODUCT, 2020-2027 (MILLION USD) 39
TABLE 8 NORTH AMERICA: SMART GAS METER MARKET, BY APPLICATION, 2020-2027 (MILLION USD) 40
TABLE 9 UNITED STATES: SMART GAS METER MARKET, BY PRODUCT, 2020-2027 (MILLION USD) 41
TABLE 10 UNITED STATES: SMART GAS METER MARKET, BY APPLICATION, 2020-2027 (MILLION USD) 41
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