Press release
Smart Gas Meter Global Market Report 2024-2033: Size, Share, Growth, Trends, Analysis, Demand, Forecast, Competitive Landscape, Key Players
Smart Gas Meter Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $6.1 billion In 2028 At A CAGR Of 8.1% :
The smart gas meter market size has grown strongly in recent years. It will grow from $4.14 billion in 2023 to $4.47 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to regulatory mandates, energy efficiency, growing urbanization, aging infrastructure, data analytics.
The smart gas meter market size is expected to see strong growth in the next few years. It will grow to $6.1 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to iot and connectivity, data-driven decision making, consumer awareness, gas leak detection, demand for smart grids. Major trends in the forecast period include mobile apps and customer engagement, energy management platforms, digital twins, blockchain for billing, green gas monitoring.
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Smart Gas Meter Market Major Segments
The smart gas meter market covered in this report is segmented -
1) By Type: Smart Ultrasonic Gas Meter, Smart Diaphragm Gas Meter
2) By Component: Hardware, Software
3) By Technology: Automated Meter Reading (AMR), Advanced Metering Infrastructure (AMI)
4) By Application: Residential, Commercial, Industrial
Key Driver - Government Policies Fueling Growth In The Smart Gas Meter Market
The supporting government policies are expected to propel the growth of the smart gas meter market going forward. Government policies are the initiatives or policies issued by the government of any country concerning the growth of a particular market. Many government policies are designed by different governments in support of smart gas meters. Through these policies, the government provides smart gas meters for customers at subsidy rates. For instance, in January 2023, the government of India announced the smart meter national program (SMNP), intends to replace India's 250 million conventional meters with smart meters. Therefore, rising demand for the smart gas meter by government initiatives drives the smart gas meter market .
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Prominent Trend - Investment Initiatives Propel Growth And Innovation In The Smart Gas Meter Market
Major companies operating in the smart gas meter market are having investments to sustain their business in the market. For instance, in July 2022, Italgas S.p.A. an Italy-based company that manufactures smart gas meters announced that it is planning to invest €8.6 billion (US$8.8 billion) in smart gas meters as well as other technology and initiatives. The funding would go toward creating intelligent gas networks, digitizing corporate procedures and networks, and starting a Power-to-Gas pilot project that will convert renewable energy sources into hydrogen and enable its storage. Additionally, the investment will be utilized to replace the earlier generation GPRS meters that the telcos are gradually replacing with smart meters that can accurately monitor gas consumption and offer accurate invoicing .
Smart Gas Meter Market Players
Major companies operating in the smart gas meter market include Cisco Systems Inc., ABB Ltd., Adappt Pte. Ltd., Avnet Inc., Eutech Cybernetic Pte. Ltd., Hitachi Vantara Corporation, Huawei Technologies Co. Ltd., ICONICS Inc., International Business Machines Corporation, Microsoft Corporation, ReelyActive Inc., Schneider Electric SE, Siemens Aktiengesellschaft, Smarten Spaces Pte. Ltd., SmartSpace Software plc, Spacewell International NV, Ubisense Group plc, Aclara Technologies LLC, Itron Inc., Apator SA, Arad Group Ltd., B METERS S.r.l., Badger Meter Inc., Diehl Metering GmbH, Diehl Stiftung & Co. KG, EDMI Limited, Elster Group GmbH, GWF MessSysteme AG, Holley Technology Ltd., Honeywell International Inc., Iskraemeco d.d., Kamstrup A/S, Landis+Gyr AG, Maddalena S.p.A., Master Meter Inc.
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Largest And Fastest Growing Region In The Market
Europe was the largest region in the smart gas meter market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart gas meter market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Smart Gas Meter Market Report Structure
3. Smart Gas Meter Market Trends And Strategies
4. Smart Gas Meter Market - Macro Economic Scenario
5. Smart Gas Meter Market Size And Growth
…..
27. Smart Gas Meter Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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