Press release
Global Smart Gas Meter Market Outlook 2025-2034: Trends, Innovations, And Future Outlook
Smart Gas Meter
What Is the Smart Gas Meter Market Size and Projected Growth Rate?
The market of smart gas meters has experienced significant expansion in the recent past. Estimated to progress from $4.4 billion in 2024 to $4.71 billion in 2025, it registers a compound annual growth rate (CAGR) of 7.1%. Factors such as regulatory protocols, energy efficiency initiatives, accelerating urbanization, outdated infrastructure, and data analytics contributed to this growth in the historic period.
In the coming years, a significant increase is anticipated in the smart gas meter market size, which is projected to reach $6.46 billion in 2029, growing at a compound annual growth rate (CAGR) of 8.2%. This growth during the forecast period can be accredited to factors like IoT and connectivity, data-oriented decision making, consumer consciousness, gas leak detection, and the need for smart grids. Key trends expected during this period encompass mobile applications and customer involvement, energy management platforms, digital twins, blockchain for billing, and monitoring of green gas.
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What Are the Major Segments in the Smart Gas Meter Market?
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
Subsegments:
1) By Smart Ultrasonic Gas Meter: Fixed Ultrasonic Gas Meters, Portable Ultrasonic Gas Meters, Multi-jet Ultrasonic Gas Meters
2) By Smart Diaphragm Gas Meter: Single-Stage Diaphragm Gas Meters, Multi-Stage Diaphragm Gas Meters, Electronic Diaphragm Gas Meters
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What Are The Driving Smart Gas Meter Market Evolution?
Anticipated growth in the smart gas meter market is largely due to supportive government policies. Such initiatives issued by a country's government are instrumental in promoting a specific market's expansion, in this case, the smart gas meter market. Various governments have put forth policies to endorse the use of smart gas meters, even offering them to consumers at subsidized rates. A perfect example would be the Smart Meter National Program (SMNP) unveiled by the Indian government in January 2023, with plans to substitute the country's 250 million traditional meters with smart meters. The increasing demand for smart gas meters influenced by these government initiatives is a primary driving force behind the market's anticipated growth.
Which Firms Dominate The Smart Gas Meter Market Segments?
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.
What Trends Are Expected to Dominate the Smart Gas Meter Market in the Next 5 Years?
Leading businesses in the smart gas meter industry are making substantial investments in order to maintain their market presence. For example, in July 2022, Italy's Italgas S.p.A., a producer of smart gas meters, revealed its plan to inject €8.6 billion (US$8.8 billion) into the development of smart gas meters, along with other technological advancements and initiatives. The funds will be dedicated towards the development of intelligent gas networks, the digitization of company processes and networks, and the launch of a Power-to-Gas pilot project which converts renewable energy into hydrogen for storage. In addition, this investment will be used to replace outdated GPRS meters - a task currently being undertaken by telecommunication companies - with smart meters, allowing for precision monitoring of gas usage and accurate billing.
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Which Is The Largest Region In The Smart Gas Meter Market?
Europe was the largest region in the smart gas meter market in 2024. 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Smart Gas Meter Market?
2. What is the CAGR expected in the Smart Gas Meter Market?
3. What Are the Key Innovations Transforming the Smart Gas Meter Industry?
4. Which Region Is Leading the Smart Gas Meter Market?
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