Press release
Smart Gas Market Set to Reach $59.92 Billion by 2029 with 17% Yearly Growth
Smart Gas Global Market Report 2025
Anticipated advancement in the smart gas market is propelled by the rising use of natural gas. Containing an assortment of hydrocarbons, natural gas is widely utilized in commercial and residential sectors for various applications, such as heating buildings and water, powering cooling and refrigeration machinery, cooking, drying clothes, and even illuminating outdoor spaces. Its incorporation into the smart gas infrastructure aids in drawing crucial data and analytical interpretations that optimize decision-making, detect harmful gases, gauge oxygen levels, prevent fire hazards, provide pipe corrosion protection, and manage risks, thereby upgrading the distribution network of natural gas. The US Energy Information Administration, reputed as a US-based governmental body for energy, divulged in a report in November 2022, that the United States' consumption of natural gas in 2021 stood around 30.66 trillion cubic feet (Tcf), equating nearly 31.73 quadrillion British thermal units (quads) and making up about 32% of the total energy consumption in the country. The report also predicted that in 2022, around 26% of total US natural gas consumption will be attributed to the industrial sector, with its total consumption set to increase by 3% after a 2% rise the previous year in 2021. Furthermore, industrial natural gas consumption is projected to surpass 23 billion cubic feet per day in the year 2022. Hence, the growth in the smart gas industry is significantly driven by the rising uptake of natural gas.
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How will the growth rate of the smart gas market shape industry trends by 2034?
In recent years, the smart gas market scale has seen swift expansion. Rising from $28.14 billion in 2024 to $32.5 billion in 2025, the Compound Annual Growth Rate (CAGR) is marked at 15.5%. Predominant reasons for the growth observed in the historic period include regulatory measures, modernization of infrastructure, the pressure to reduce costs, the increased awareness towards environment and customer demand for efficiency.
The size of the smart gas market is predicted to experience substantial expansion in the coming years, swelling to "$59.92 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 16.5%. The surge during the projected period can be credited to the broader implementation of the Internet of Things (IoT), initiatives promoting smart city concepts, incorporation of renewable energy sources, a global shift towards energy, and the comprehensive energy management solutions. Leading trends in the projection period encapsulate advancement in metering infrastructure (AMI), application of data analytics and artificial intelligence tools, enhanced cyber security protocols, amalgamation of renewable gas sources, exploration of blockchain technology, and initiatives advancing smart city uniqueness.
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What trends are poised to drive the future success of the smart gas market?
Adoption of innovative technologies is a main trend that is currently on the rise in the smart gas market. Major market players are utilizing new tech solutions to maintain their market positioning. For example, in July 2022, Hestan Cue, an American smart cookware products company, introduced a new intelligent gas technology: the Hestan Smart Gas burner. This technology has an automatic adjustment feature for precise gas cooking, facilitated by inbuilt temperature monitoring. The burner has Bluetooth capabilities and incorporates unique culinary sensors that automatically modify the cooking temperature once the AccuKnob on the hob is correctly set. It also entails a high-efficiency dual-flow gas system, with heating ranging in 25-degree increments from 100 to 500 degrees Fahrenheit.
Which primary segments of the smart gas market are driving growth and industry transformations?
The smart gas market covered in this report is segmented -
1) By Device: Automatic Meter Reading (AMR), Advanced Meter Infrastructure (AMI)
2) By Solution: Supervisory Control And Data Acquisition (SCADA), Geographical Information System (GIS), Enterprise Asset Management, Mobile Workforce Management (MWM), Meter Data Analytics, Gas Leak Detection, Meter Data Management (MDM)
3) By Service: System Integration, Program Management, Installation
4) By End-User: Commercial And Industrial, Residential
Subsegments:
1) By Automatic Meter Reading (AMR): Mobile AMR Systems, Fixed Network AMR Systems
2) By Advanced Meter Infrastructure (AMI): Smart Gas Meters, Communication Networks, Data Management Software, Analytics And Reporting Tools
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Which geographical regions are pioneering growth in the smart gas market?
North America was the largest region in the smart gas market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global smart gas market report during the forecast period. The regions covered in the smart gas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the influential players reshaping the smart gas market landscape?
Major companies operating in the smart gas market include General Electric Company, Itron Inc, Schneider Electric SE, ABB Group, Landis+Gyr Inc, Oracle Corporation, Elster Group SE, Xylem Brand, Aclara Technologies LLC, Cap Gemini S.A, Diehl Stiftung and Co.KG, Silver Spring Networks Inc, Sensus USA Inc, Verizon Communications Inc., Badger Meter Inc., Consultants to Government and Industry Incorporated, Holley Technology Ltd., KROHNE Messtechnik GmbH, OSIsoft LLC, Capgemini SE, Siemens AG, Suez SA, Xylem Inc., Tieto Corporation, Yokogawa Electric Corporation, International Business Machines Corporation, Azbil Corporation, I2O Water Ltd.
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What Is Covered In The Smart Gas Global Market Report?
• Market Size Forecast: Examine the smart gas market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the smart gas market for a structured understanding.
• Key Players Overview: Analyze major players in the smart gas market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the smart gas market.
• Segment Contributions: Evaluate how different segments drive overall growth in the smart gas market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the smart gas market.
• Industry Challenges: Identify potential risks and obstacles affecting the smart gas market.
• Competitive Landscape: Review strategic developments in the smart gas market, including expansions, agreements, and new product launches.
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