Press release
Global Smart Meter Market Will Reach At CAGR Of 6.23% Between 2016-2021
Global rise in energy demand along with the emerging trends in smart grid technologies, integration, and advanced infrastructure along with IoT (Internet of Things) has led to the growth of Smart Meter market.
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Market for Smart meters is growing steadily on account of the growing renewable energy sector with increase in energy demand, controlling carbon emissions through energy saving, reducing wastage and controlling the consumption. As a result, there is increase in the number of installations of smart meters.
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Among the segments, market is expected to be driven by Smart Gas Meters and Smart Water Meters majorly in developed countries on account of growing natural gas usage and need for smart water management. The smart gas meters will primarily take the lead due to the utilities going for combine electricity and gas dual fuel supply. Also, the growth for smart meter will primarily be seen in residential areas due to large number of households as a major end user of smart meters.
While in developing regions, they will continue to dominate the market in Smart electricity meter due to the government initiatives for lowering down the prices and increasing awareness among utilities.
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Global Smart Meter Market is forecasted to grow at a CAGR of 6.23% during 2016 – 2021F, on account of rising advanced infrastructure developments, integrated systems with two way communication and energy consumption real time data and control by individuals.
APAC region remains the major market among all the regions. In the forecast period, Europe region will witness strong growth driven by the countries such as U.K. and Germany.
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According to Azoth Analytics research report, “Global Smart Meter Market (Electricity, Gas, Water) – Analysis By Meter Type, By End User, By Region, By Country: Opportunities & Forecast (2011-2022)”, Global Smart meter market is projected to exhibit a CAGR of 6.23% during 2016 - 2021. On the basis of market segment, Global Smart Meter Market has been segmented on (By Types: Smart Electricity Meter, Smart Gas Meter, Smart Water Meter; By Applications: Residential sector, Commercial Sector; By Region: North America, Europe, APAC, and ROW; By Country: U.S., Canada, U.K., Germany, China, Japan)
Scope of the Report
The report provides Segmentation by Types
Smart Electricity Meter
Smart Gas Meter
Smart Water Meter
The report provides Segmentation by End User
Residential sector
ommercial sector
The report provides coverage by Region
North America
Europe
Asia Pacific
ROW
The report provides coverage by Country
USA
Canada
U.K.
Germany
China
Japan
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