Press release
Government Policies Fueling Growth In The Smart Gas Meter Market: Transformative Forces Shaping the Smart Gas Meter Market Landscape in 2025
Smart Gas Meter
What Will the Smart Gas Meter Industry Market Size Be by 2025?
In recent times, the smart gas meter market has experienced substantial growth. The market size is expected to rise from $4.4 billion in 2024 to $4.64 billion in 2025 at a Compound Annual Growth Rate (CAGR) of 5.5%. The growth during the historical period can be linked to regulatory mandates, enhanced energy efficiency, increasing urbanization, old infrastructure, and the use of data analytics.
What's the Long-Term Growth Forecast for the Smart Gas Meter Market Size Through 2029?
The market size for smart gas meters is predicted to witness substantial expansion in the upcoming years, reaching $6.24 billion in 2029 with a CAGR of 7.7%. The anticipated surge during this forecast period can be associated with factors such as internet of things and connectivity, data-based decision-making, customer awareness, gas leakage detection, and the demand for smart grids. Furthermore, the leading trends for the forecast period are expected to include customer interaction and mobile apps, platforms for managing energy, digital twins, blockchain usage for billing, and monitoring green gas.
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What Are the Key Growth Drivers Fueling the Smart Gas Meter Market Expansion?
Anticipated advancements in the smart gas meter market are credited to supportive government policies. These policies, created by governments across the globe, are aimed at fostering market growth in specific sectors, such as smart gas meters. These initiatives often include offering smart gas meters to consumers at subsidized rates. An excellent example is the smart meter national program (SMNP) announced by the Indian government in January 2023, aiming to replace 250 million traditional meters in India with smart meters. As such, growing demand for smart gas meters bolstered by governmental programs propels the market's advancement.
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Which Fast-Growing Trends Are Poised to Disrupt the Smart Gas Meter Market?
Leading players in the smart gas meter market are investing considerable amounts to maintain their position. For example, Italgas S.p.A., a firm based in Italy that produces smart gas meters, disclosed in July 2022 its plan to pour €8.6 billion (US$8.8 billion) into smart gas meters and other related technologies and initiatives. The investment aims to develop smart gas networks, digitalize company processes and systems, and launch a Power-to-Gas pilot scheme to transform renewable energy sources into hydrogen and facilitate its storage. Additionally, these funds will be used to upgrade the earlier GPRS meters, which telecom companies are progressively swapping for smart meters, providing precise gas consumption monitoring and accurate billing.
How Is the Smart Gas Meter Market Segmented?
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 Companies Are Leading the Charge in Smart Gas Meter Market Innovation?
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 Are Leading the Global Smart Gas Meter Market in Revenue?
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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