Press release
Smart Gas Meter Market Reaches To USD ~ 3.5 billion at CAGR of ~7% by 2027
Market research future published a cooked research report on Smart Gas Meters Market. The global market for Smart Gas Meters is expected to grow at a CAGR of about 7% between 2016 and 2022.Market Highlights
The Global Smart Gas Meters Market is estimated to be a lucrative market within the upstream oil & gas industry. It Advantages of smart gas meters such as accurate billing, enhanced customer experience, and improved customer service are expected to be the driving factors for Smart Gas Meters Market in developing countries.
Smart Gas Meters Market:
The Global Smart Gas Meter Market is expected to grow at about 7% CAGR during the forecast and reach almost $3.5 billion by 2022. The smart gas meter market is expected to grow at a rapid pace primarily due to government roll-outs, and implementations of mandates & policies, in developed economies. Government mandates are another source of increasing demand acting as a market driver. Government policies specifically in North America, Europe and Asia-Pacific region are targeting maximum roll outs of smart gas meters in households to ensure efficient energy usage. The development of smart grids is widely considered to be a key enabler of the transition towards a low carbon economy.
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Key Players
Key players in the Global Smart Gas Meter market include
Landis+Gyr (Switzerland), Itron Inc. (U.S.), Apator Group (Poland), Honeywell International, Inc. (U.S.), Diehl Metering (U.K.), Raychem RPG (India), Sensus (U.S.), Dandong Dongfa Group Co. Ltd. (China), EDMI Limited (Singapore), and Chongqing Shancheng Gas Equipment Co. Ltd. (China).
Rapid growth in the end users and low differentiation in meter function requirements has shifted the market focus towards commoditization, thereby intensifying the competitive pricing rivalry between key players.
Residential held the major share within the Global Artificial Lift Market
Smart meters are the next generation of gas and electricity meters and offer a range of intelligent functions. Most of the smart meters that are being installed today use mobile phone-type signals to send meter readings to your supplier, and other wireless technologies to send information to the in-home display. Residential application has dominated the smart gas meter market mainly due to the government mandates and increasing awareness among individuals regarding the advantages of smart gas meters
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