What is the Market Size of Smart Gas Meters Market ? :
IMARC Group’s latest report, titled “Smart Gas Meter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the smart gas meter market demand. The report also includes competitor and regional analysis, and contemporary advancements in the market. the global smart gas meter market size reached US$ 2.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.0 Billion by 2028, exhibiting a growth rate (CAGR) of 6.9% during 2023-2028.
A smart gas meter is a digitized gas network that measures electronic gas consumption and offers a clearer electric stockpile and usage pattern for system monitoring and client charging. It uses wireless networks to send consumption data directly to the supplier enabling remote location monitoring, automatic billing, and infrastructure maintenance. Additionally, it has an in-home display and comprises computation hardware and sensors that provide consumers with real-time usage information by precisely measuring the volume of the gas consumed. It also aids in tracking asset performance which delivers as it captures, stores, and transmits meter data to the central server during gas operations and provide real-time alerts about the concentration of harmful gasses in the atmosphere.
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Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined along with the profiles of the key players being
- Aclara Technologies LLC (Hubbell Incorporated)
- Aichi Tokei Denki Co. Ltd
- Apator SA
- Chongqing Shancheng Gas Equipment Co. Ltd
- Diehl Stiftung & Co. KG
- EDMI Limited (Osaki Electric Co. Ltd.)
- Honeywell International Inc
- Itron Inc
- Raychem RPG Private Limited
- Schneider Electric SE
- Siemens AG
- Wasion Holdings Limited
Smart Gas Meters Market Growth and Future Demand:
The growing demand for the smart gas meter from the residential sector majorly drives the global market. This can be attributed to the escalating cases of stealing of pipeline gas resulting in malfunctions, leakage, and other safety hazards.
Along with this, the accelerating number of public-sector initiatives to encourage the adoption of smart meters in end-client domains is also significantly supporting the demand on the global level. Due to its precision in displaying accurate data information, it is extensively incorporated in the electronics industry, further impacting the market. Furthermore, the widespread integration of artificial intelligence (AI) in smart gas meters is creating a positive market outlook. Some of the other factors driving the market further include rapid industrialization and extensive research and development (R&D) activities.
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Key Market Segmentation:
Breakup by Component:
Breakup by Type:
- Automated Metering Infrastructure (AMI)
- Automated Meter Reading (AMR)
Breakup by End Use:
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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