$3.7 Billion Worldwide Smart Gas Meter Industry to 2031
DUBLIN–(BUSINESS WIRE)–The “Smart Gas Meter Global Market Report 2022” report has been added to ResearchAndMarkets.com’s offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global smart gas meter market.
The global smart gas meter market is expected to grow from $3.38 billion in 2021 to $3.73 billion in 2022 at a compound annual growth rate (CAGR) of 10.4%. The smart gas meter market is expected to grow to $4.87 billion in 2026 at a CAGR of 6.9%.
Companies Mentioned
- Cisco Systems Inc.
- SmartSpace Software Plc
- Eutech Cybernetic Pte. Ltd.
- Hitachi Vantara Corporation
- Huawei Technologies Co. Ltd.
- International Business Machines Corporation (IBM)
- Schneider Electric SE
- Siemens AG
- Adappt
- Spacewell
- ABB
- ICONICS
- Ubisense
- Smarten Space
- Avnet Inc. (Softweb Solutions Inc.)
- ReelyActive
- Microsoft Corporation
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The smart gas meter market consists of sales of smart gas meters by entities (organizations, sole traders, and partnerships) that are used to measure how much energy is used in the industry and what it costs. It also provides automatic meter readings. A smart gas meter refers to an electronic device that records information such as consumption of electric energy, voltage levels, current, power factor, and gas usage. This helps in providing information to the consumer, which helps to get greater clarity on the consumption and usage of gas.
The main types of smart gas meters are smart ultrasonic gas meters and smart diaphragm gas meters. A Smart ultrasonic gas meter is a small static gas meter that uses ultrasonic measurement for the measurement of energy in residential areas where gas is used as a source of energy. The different components include hardware, and software, which comprise various techniques such as automated meter reading (AMR), and advanced metering infrastructure (AMI). The several applications include residential, commercial, and industrial.
Europe was the largest region in the smart gas meter market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart gas meter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The smart gas meter market research report is one of a series of new reports that provides smart gas meter market statistics, including global market size, regional shares, competitors with a smart gas meter market share, detailed smart gas meter market segments, market trends and opportunities, and any further data you may need to thrive in the smart gas meter industry. This smart gas meter market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The supporting government policies are expected to propel the growth of the smart gas meter market going forward. Government policies are the initiatives or policies issued by the government of any country concerning the growth of a particular market. Many government policies are designed by different governments in support of smart gas meters. Through these policies, the government provides smart gas meters for customers at subsidy rates.
Partnerships and collaborations between the companies are the latest trends gaining popularity in the smart gas meter. Major companies operating in the smart gas meter market are entering into partnerships and collaborations to sustain their business in the market.
In August 2021, Adani Total, an India-based company that manufactures petroleum, gas-related products, and smart gas meters, acquired Smartmeters Technologies Pvt Ltd for a deal amount of US $128,700 (1 crore). The acquisition strengthens Adani Total’s ability to produce smart gas meters which helps to develop prepaid smart meters. Smartmeters Technologies Pvt Ltd is an India-based company that manufactures smart measuring instruments such as prepaid smart gas meters and allied goods with end-to-end solutions.
The countries covered in the smart gas meter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
For more information about this report visit https://www.researchandmarkets.com/r/f63r0l
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