Press release
Smart Gas Meter Market: Rapid Growth, CAGR of 8.2%, Key Drivers, and Emerging Trends Ahead
Smart Gas Meter Market Growth
The global smart gas meter market is set for substantial growth driven by regulatory mandates, energy efficiency, IoT connectivity, and data-driven decision making.
What Is The Projected Market Size Of The Global Smart Gas Meter Market And Its Growth Rate?
• The smart gas meter market size has grown to $4.4 billion in 2024.
• It will surge to $4.71 billion in 2025, witnessing a CAGR of 7.1% due to regulatory mandates, energy efficiency, and growing urbanization.
• The market is projected to further expand to $6.46 billion in 2029, growing at a CAGR of 8.2%, propelled by IoT connectivity, data-driven decision making, and consumer awareness.
What Is Driving The Growth In The Smart Gas Meter Market?
Government policies and initiatives significantly influence the smart gas meter market's growth. Many governments have come up with policies favoring smart gas meters and provide them at subsidized rates. For example, in 2023, the Indian government announced the smart meter national program (SMNP) intending to replace 250 million traditional meters with smart meters. Thus, government initiatives and rising demand are driving the smart gas meter market.
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Who Are the Key Players Driving Smart Gas Meter Market Growth?
• 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.
What Are The Key Trends In The Smart Gas Meter Market?
• Growth of mobile apps and customer engagement
• Evolution of energy management platforms
• Introduction of digital twins
• Use of Blockchain for billing
• Green gas monitoring
What Are The Segments Of The Global Smart Gas Meter Market?
• By Type: Smart Ultrasonic Gas Meter, Smart Diaphragm Gas Meter
• By Component: Hardware, Software
• By Technology: Automated Meter Reading (AMR), Advanced Metering Infrastructure (AMI)
• By Application: Residential, Commercial, Industrial
Which Region Leads The Smart Gas Meter Market?
In 2024, Europe emerged as the largest region in the smart gas meter market. However, Asia-Pacific is anticipated to be the fastest-growing region in the forecast period. The report covers regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Smart Gas Meter Market Global Market Report?
- Market Size Analysis: Analyze the Smart Gas Meter Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Smart Gas Meter Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Smart Gas Meter Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Smart Gas Meter Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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