Press release
Smart Meters Market Happy With Trend of Rising Household Need to Track Usage of Water & Power
Ordinarily, individuals have kept track of their household energy consumption patterns in a manual fashion. But rapid pace of technological innovation has enabled many human tasks to be undertaken by machines, which have popularly been termed as smart machines. One such advancement has been put forward by the Smart Meters Market.Smart meters basically replace the existing meters and operate by transmitting meter readings in real-time to the energy supplier. This is one of the key growth drivers of the Smart Meters Market. A smart energy meter can provide readings for water, gas and power consumption of a household or property. One of the key components of a smart electric meter is the energy monitor which shows displays the consumption levels as well as the associated costs and can be installed anywhere in a home for easy access and reference. Such a reading from an electric smart meter will allow consumers to modify their consumption patterns and help them in being more judicious with their usage.
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Scope & Regional Forecast of the Smart Meters Market
The Americas currently holds the highest share in the Smart Meters Market. In North America, the U.S. is the biggest market and is anticipated to retain its dominant smart meter installation share till the end of the forecast period. Most of the Western or developed countries are aiming to replace their outdated power infrastructure with energy smart meter installations in an effort to enhance the reliability of their respective grid. Rising awareness among the general with regards to advantages that come along with smart meters is also expected to be a key future growth driver.
Some of the other factors driving the expansion of the Smart Meters Market are as follows: implementation of tighter government regulations regarding meter readings and energy consumption, growing adoption of smart grid technology, growing need for managing energy in a smarter way, more investments in energy infrastructure with the aim of upgrading technology, and the urgent need to improve distribution efficiency, especially in developing countries like India.
Segmentations & Key Players Involved in the Smart Meters Market
According to IndustryARC findings, the Smart Meters Market can be broken down into various segmentations on the basis of –
Type: Electric meter, Water meter and Gas meter.
End Users: Residential, Commercial and Industrial.
Geography: North America, Europe, Asia-Pacific and Rest of the World.
Some of the key players involved in the Smart Meters Market according to IndustryARC are as follows:
Smart Instruments Co. Pvt. Ltd
Energy Intellect Ltd
Smart building services Pvt. Ltd
Triacta power solutions LP
Fenghua sanlian water meter co., Ltd
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IndustryARC is a Research and consulting firm that publishes more than 500 Reports Annually in various industries, such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.
IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications of the Market. Our Custom Research Services are designed to provide insights on the constant flux in the global demand-supply gap of markets. Our strong analyst team enables us to meet the client research needs at a very quick speed with a variety of options for your business.
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