IMARC Group’s latest report, titled “Smart Gas Meter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, 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.
What is Smart Gas Meters ? :
A smart gas meter is an advanced device used to measure and monitor the consumption of natural gas in residential and commercial buildings. It incorporates digital technology and communication capabilities for more accurate and efficient data collection. It is equipped with sensors and communication modules that allow real-time monitoring of gas consumption. It can transmit data wirelessly to utility companies, enabling remote monitoring and automated billing processes. This eliminates the need for manual meter reading visits and provides customers with more accurate and timely billing information. Also, it can be integrated into broader smart homes or building automation systems, allowing users to monitor their gas consumption alongside other energy usage metrics.
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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
- Landis+Gyr
- Raychem RPG Private Limited
- Schneider Electric SE
- Siemens AG
- Wasion Holdings Limited
Smart Gas Meters Market Growth and Future Demand:
The rising global population, urbanization, and industrialization is driving the global market. Additionally, governments and regulatory bodies are implementing energy-saving initiatives and environmental regulations, encouraging the deployment of smart gas meters. Moreover, the integration of smart gas meters into smart grid systems allows for better energy management and the reduction of greenhouse gas emissions, further fuelling the market. Besides, as cities are becoming more environmentally friendly and technologically advanced, the deployment of smart gas meters is augmenting as gas metering solutions provide accurate billing, facilitate demand-response programs, and enable proactive maintenance and leak detection, contributing to the overall efficiency and sustainability of urban infrastructure.
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Key Market Segmentation:
Breakup by Component:
- Hardware
- Software
Breakup by Type:
- Automated Metering Infrastructure (AMI)
- Automated Meter Reading (AMR)
Breakup by End Use:
- Residential
- Commercial
- Industrial
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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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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