Market Research Report
North American Smart Gas Meter Market 2019-2025
|Published by||Orion Market Research Pvt Ltd||Product code||925746|
Delivery time: 2-3 business days
|North American Smart Gas Meter Market 2019-2025|
|Published: January 15, 2020||Content info:||
North America's smart gas meter market has considerable market growth during the forecast period. This market is mainly driven by the well-developed automatic meter reading infrastructure and ICT industry. As per the World Bank, the cumulative GDP of North America was $22.2 trillion in 2018. The economic strength and well-established technology infrastructure of North America provides a solid platform for the growth of the smart gas meter market.
North America is the home of the largest companies in terms of revenue which include Landis+Gyr AG, Diehl Stiftung& Co. KG, Honeywell International Inc., Itron Inc., Suntront Tech Co., Ltd., Aclara Technologies LLC, and Apator SA among others. These companies are the key players contributing to the smart gas meters market and their presence is estimated to fuel the growth of the market. Additionally, the growth of the smart gas meters market in the region is driven by increasing awareness towards the implementation of smart gas meters to reduce theft and to safeguard utility. The government-driven initiatives to offer smart solutions in gas supply are further fueling the market growth in the region. Synching of these smart gas meters with smartphones to perform easy remote monitoring of gas supply in North America is again making a remarkable contribution to the market growth in the region. The US and Canada from the region have made a considerable contribution to the market growth owing to the rising investment for gas pipeline and smart grid systems by the residential, commercial and industrial sectors.
Further, North American smart gas meter market contributed a significant share, holding a second dominant position, in the global smart gas meter market in 2018. The market was valued at around $1.3 billion in 2018 and projected to reach nearly $2 billion in 2025 by witnessing a CAGR of 7.1% during the forecast period. North America's smart gas meter market is segmented on the basis of countries; the US and Canada. The US held the largest market value in the North American smart gas meter due to government projects for smart cities and the high adoption of the smart gas meter coupled with aging infrastructure.
The market study of the North American Smart Gas Meter market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
The report is intended for smart gas meter manufacturers, distributors and suppliers, and other related companies for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.