Market Research Report
Smart Gas Meter Market by Type (Automated Metering Infrastructure and Automated Meter Reading, Component, and End Use : Global Opportunity Analysis and Industry Forecast, 2020-2027
|Published by||Allied Market Research||Product code||980739|
|Published||Content info||253 Pages
Delivery time: 2-3 business days
|Smart Gas Meter Market by Type (Automated Metering Infrastructure and Automated Meter Reading, Component, and End Use : Global Opportunity Analysis and Industry Forecast, 2020-2027|
|Published: November 26, 2020||Content info: 253 Pages||
Smart Gas Meter Market by Type (Automated Metering Infrastructure (AMI) and Automated Meter Reading (AMR), Component (Hardware and Software), and End Use (Residential, Commercial, and Industrial): Global Opportunity Analysis and Industry Forecast, 2020-2027 .
The global smart gas meter market size is expected to reach $5.99 billion by 2027 from $3.71 billion in 2019, growing at a CAGR of 6.9% from 2020 to 2027. A smart gas meter not only measures gas flow but also use wireless communication to connect to local or wide area networks that allow infrastructure maintenance, remote location monitoring, and automatic billing. In gas utility application, the meters must function for long periods and convey data regularly. A combination of smart metering technology with sensors for smart valves, gas pressure, and gas leak detectors on the same network represent a concrete response for gas utilities to enhance safety and improve overall efficiency.
The Internet of Things (IoT) ecosystem help drive the smart gas meter market, as these can provide real-time data for various purposes and end-use industries such as residential, commercial, and industrial. With leveraging big data analytics, they can also shift from cutting costs as the main benefit of finding benefits for consumers and organizations. Some of the vendors are offering wireless solution for smart gas metering, which consists of WAVIoT gas meters and the meter data management system that allow them to get the consumption reports from the meters remotely.
The major factors that drive the smart gas meter market size is supportive government policies, development of communication network infrastructure, and high developments in the field of advanced metering infrastructure. In addition, large scale installations of the smart meters by the utility companies are focusing on strengthening the distribution of the smart gas meters. However, high installation and maintenance cost of smart gas meters borne by end users restrain the growth of the smart gas meter market. Various grid operators and other gas utility providers are effectively managing the demand for smart gas meters. However, various benefits offered by the smart gas meter market such as automatic meter reading and bill generation are further expected to contribute toward the growth of the smart gas meter industry.
The global smart gas meter market is segmented on the basis of type, component, and end use. Further, on the basis of type, the market is segmented into automated metering infrastructure (AMI) and automated meter reading (AMR). On the basis of end use component, it is classified into hardware and software. On the basis of end use, it is divided into residential, commercial, and industrial.
Based on region, the global smart gas meter market trend is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The key market players extensively profiled in the report include Honeywell International Inc, Itron Inc., Landis+Gyr, Schneider Electric SA, Siemens AG, Badger Meter, EDMI, Sensus, Aclara Technologies, and Apator SA. Market players have adopted various strategies such as product launch, collaboration, partnership, and agreement to expand their foothold in the smart gas meter industry.
KEY MARKET SEGMENTS
BY END USE