Press release
Smart Meter Market size is Projected to Reach $54.34 Billion by 2030 | Growing at a CAGR of 10.10%
Smart Meter Market
The global smart meter market size was valued at $21.79 billion in 2020 and is projected to reach $54.34 billion by 2030, growing at a CAGR of 10.10% from 2021 to 2030.
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Smart meter is the next generation of a gas, water, electricity meter that measures how much gas, water and electricity are using. Smart meter shows a digital meter reading and uses a secure smart data network to automatically and wirelessly send the readings to energy supplier at least once a month, so someone will receive accurate, not estimated bills. In addition, smart meters also come with in-home display screen, which shows exactly how much energy are used, in near real time.
Smart gas meters are the electronic devices that measure gas flows and the consumption of the gas, and provides provide the information of how much gas has been consumed and its relevant costing. Smart gas meters are equipped with the shock and leakage detection system for increasing the safety to a great extent. The smart gas meter installations help gas companies with some major operational advantages including the elimination of noting monthly reading manually, availability of real-time data, and continuous monitoring of pipeline.
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By region, the smart meter market trends have been analyzed across North America, Europe, Asia-Pacific, and LAMEA. The analysis identified that Asia-Pacific contributed maximum revenue in 2020. The smart meter market growth in Asia-Pacific is expected to grow at a faster rate as compared to other regions. Factors such as high adopting of smart technology in power grid infrastructure and rising challenges, such as aging transmission and distribution (T&D) infrastructure, distributed generation, are expected to benefit the growth of smart mater across Asia-Pacific.
Competitive Analysis:
The smart meter industry key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.
Some of the major key players of the global smart meter market include,
⦁ Itron Inc.
⦁ Landis+Gyr
⦁ Schneider Electric SA
⦁ Siemens AG
⦁ Badger Meter
⦁ EDMI
⦁ Holley Metering Limited
⦁ Neptune Technology Group Inc.
⦁ Sensus
⦁ Honeywell International Inc.
⦁ Kaifa Technology
⦁ Suntront Technology
⦁ Kamstrup Company
⦁ Aichi Tokei Denkei
⦁ Wasion Group
Press Release:
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Top Impacting Factors:
The prominent factors that impact the smart meter market growth are development of communication network infrastructure, government initiatives, and high investments in digital electricity infrastructure. However, high cost of installations of the smart meter is a major restraint to the market growth. On the contrary, developing smart city project is expected to create lucrative opportunities for the market. Therefore, these factors are expected to definitely affect the global smart meter industry during the forecast period.
Key Benefits for Stakeholders:
⦁ This study comprises analytical depiction of the global smart meter market outlook along with the current trends and future estimations to depict the imminent investment pockets.
⦁ The overall smart meter market analysis is determined to understand the profitable trends to gain a stronger foothold.
⦁ The report presents information related to key drivers, restraints, and smart meter market opportunities with a detailed impact analysis.
⦁ The current smart meter market forecast is quantitatively analyzed from 2021 to 2030 to benchmark the financial competency.
⦁ Porter's five forces analysis illustrates the potency of the buyers and the smart meter market share of key vendors.
⦁ The report includes the market trends and the market share of key vendors.
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Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.
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