Press release
Global Smart Gas Market: Pioneering Players and Cutting-Edge Technologies Take Center Stage 2026
According to a recent report from Allied Market Research titled "Global Opportunity Analysis and Industry Forecast for Smart Gas Market, 2018-2026," the market for smart gas reached a value of $12.66 billion in 2018. Projections indicate a substantial growth, with an anticipated value of $41.65 billion by 2026. This represents a Compound Annual Growth Rate (CAGR) of 16.2% from 2019 to 2026.Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/6290
The smart gas system offers functionalities not found in traditional systems, eliminating the need for manual monitoring and bill management. This system facilitates remote monitoring, tampering detection, outage/leakage detection, and gas usage tracking. Residents can connect smart gas meters to their smartphones, using a dedicated application to check and manage their gas consumption, promoting efficient usage and cost savings.
Smart gas technology incorporates devices such as Automatic Meter Reading (AMR) and Advanced Metering Infrastructure (AMI), creating an integrated system for data management, communication networks, and smart meters. This enables two-way communication between customers and utilities. The growing demand to enhance urban safety, coupled with investments in smart gas pipelines and smart grid networks, is driving market growth.
Urbanization worldwide is contributing to increased demand for smart gas solutions among commercial and residential users. Government initiatives and investments in smart energy management are anticipated to offer significant growth opportunities for the smart gas market.
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Covid-19 scenario:
• Amid lockdown, smart gas metering device manufacturers across the globe have halted their production due to disrupted supply chain.
• The growth of smart gas market is expected to decline due to the Covid-19 pandemic as consumption of smart gas has been reduced due to closure of hotels and restaurants amid shutdown.
The solutions segment, focusing on the benefits of remote monitoring and improved gas distribution network management, dominated the smart gas market in 2018 and is expected to maintain its dominance. The services segment is projected to witness the highest growth rate during the forecast period.
Automated Meter Reading (AMR) led the global smart gas market in 2018 and is expected to continue generating the highest revenue. This growth is attributed to the rising need for accurate data analysis to enhance customer satisfaction.
Access the full summary at: https://www.alliedmarketresearch.com/smart-gas-market
The residential segment held the largest share in the global smart gas market in 2018, driven by the increasing demand for real-time gas consumption monitoring to conserve gas and reduce bills.
North America dominated the global market in 2018, expected to maintain its position due to the presence of key market players and increased investment in smart metering and gas systems. The growth of smart energy and gas systems in this region is further anticipated in the coming years. Additionally, Asia-Pacific is expected to exhibit the highest growth rate during the forecast period.
The Smart Gas market is characterized by the presence of key players driving innovation and growth. Leading companies in this sector include Siemens AG, Itron Inc., Honeywell International Inc., ABB Ltd., Schneider Electric SE, Landis+Gyr AG, Sensus (Xylem Inc.), Badger Meter, Inc., General Electric Company, and Aclara Technologies LLC. These industry leaders are actively engaged in strategic initiatives, technological advancements, and partnerships to maintain their competitive edge and contribute significantly to the expansion of the global Smart Gas market.
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