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Comprehensive 2025 Smart Gas Meter Market Overview: Trends, Forecasts, and Growth Drivers
Smart Gas Meter Market
What Is the Expected CAGR for the Smart Gas Meter Market Through 2025?
The market size of smart gas meters has seen a robust growth in the past few years. The market value is expected to escalate from $4.4 billion in 2024 to $4.71 billion in 2025, with a compound annual growth rate (CAGR) set at 7.1%. The prominent factors propelling this growth during the historic period include regulatory mandates, energy efficiency measures, rapid urbanization, outdated infrastructure, and data analytics.
What's the Projected Size of the Global Smart Gas Meter Market by 2029?
Expectations suggest a robust expansion of the smart gas meter market in the coming years, with predictions indicating a surge to $6.46 billion by 2029, facilitated by a compound annual growth rate (CAGR) of 8.2%. This growth, expected during the forecast period, is anticipated to be driven by factors such as IoT and connectivity, data-driven decision-making, increased consumer awareness, gas leak detection, and demand for smart grids. Key future trends to look out for include mobile apps and customer engagement, energy management platforms, digital twins, blockchain for billing, and green gas monitoring.
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Top Growth Drivers in the Smart Gas Meter Industry: What's Accelerating the Market?
The smart gas meter market is predicted to expand due to supportive governmental policies. These policies, enacted by various nations, focus on the growth and promotion of specific markets, such as the smart gas meter market. Several governments have put forth measures supporting the distribution of smart gas meters to consumers at subsidized rates. An example of this is the Indian government's Smart Meter National Program (SMNP) launched in January 2023, which aims to substitute India's 250 million traditional meters with smart ones. Consequently, the augmented demand for smart gas meters driven by government initiatives is catalyzing the expansion of the smart gas meter market.
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What Trends Will Shape the Smart Gas Meter Market Through 2029 and Beyond?
Top firms involved in the smart gas meter market are making significant investments to maintain their market foothold. For example, in July 2022, the Italy-based smart gas meter manufacturer Italgas S.p.A announced plans to pour €8.6 billion (equivalent to US$8.8 billion) into the development of smart gas meters and other related technological advancements and undertakings. The financial injection aims to spur the establishment of smart gas networks, digital transformation of corporate methodologies and networks, and spark a Power-to-Gas trial project to convert renewable energy sources into hydrogen for storage. Further, the funds will be spent on updating the outdated GPRS meters, which telecom companies are progressively substituting with smart meters to provide precise gas consumption tracking and accurate billing.
What Are the Main 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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Which Top Companies are Driving Growth in the Smart Gas Meter Market?
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.
Which Regions Will Dominate the Smart Gas Meter Market Through 2029?
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.
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