Global Smart Gas Meter Market size was valued at US$ 1.91 Bn. in 2020 and the total revenue is expected to grow at a CAGR of 4.7% through 2021 to 2027, reaching nearly US$ 2.63 Bn.
Smart Gas Market Overview:
The Global Smart Gas Market The mobile segment is expected to develop at a compound annual growth rate of 13%. (CAGR). Mobile advertising material that is easily supported by mobile devices is designed and developed by key stakeholders in the mobile-based advertising business. Furthermore, as more people use their mobile phones to access the internet and use internet-based purchasing services, the growth of mobile internet advertising is fueled by the rise of e-commerce and m-commerce. These are the factors that are expected to drive market growth over the forecast period.
Historical Forecast Period:
Maximize Market Research report presents the analysis of each segment from 2021 to 2027 considering 2020 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment calculated for the forecast period from 2020to 2027.
Smart Gas Market Overview and Dynamics:
The report covers comprehensive data on market drivers, restraints, emerging trends, and growth opportunities that can change the market dynamics of the end use industry. It provides an in-depth analysis of the Smart Gas Market segments which include products, applications, and competitor analysis.
Smart metre development is aided by the availability of network infrastructures such as 5G, 4G, radiofrequency, and other technologies. As a result of the rising network infrastructure, manufacturers are continually working on advanced-level smart metres, resulting in the expansion of the smart gas metre market.
The corporations are also focusing on start-ups working on smart gas metre industry innovations to expand their product capabilities, market share, and profitability. One of the key forces driving the global smart gas metre market is the replacement of traditional metres with smart gas metres that collect and analyse data on a regular basis.
Consumer behaviour can be tracked using the data supplied by a smart gas metre. According to the US EIA and the European Union, periodic measurement of utility usage by smart gas metres can reveal significantly more information about consumers, such as the use of residential appliances and housework activities. This information on utility usage has a lot of business value, as it may be used in marketing and advertising, for example. Smart gas metres could be used as a surveillance infrastructure in the future. On the other side, data from smart gas metres is vulnerable to cyber-attacks and data breaches.
The personal energy consumption data provided by smart gas metres may be of interest to law enforcement agencies, tax authorities, insurance companies, and other third parties. As a result, government agencies such as the US Environmental Protection Agency and the European Data Protection Supervisory Authorities have noticed the risks associated with personal data protection and are working to implement new data security requirements for smart gas metre operations. The smart gas metre market's growth is projected to be hampered by this privacy and security issue.
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The market is divided into two categories: AMR (automated metre reading) and AMI (advanced metering infrastructure) (AMI). By 2027, the Automated Meter Reading (AMR) category is estimated to have the greatest market share of %. The market for smart gas metres is being driven by the rising demand for low-cost smart gas metres, as well as the need for automated metre reading collection without physical inspection. Because the market for smart gas metres is projected to be driven by the increasing installation of smart gas metres in residential, commercial, and industrial end-users, Asia Pacific is expected to hold the largest share of the market, followed by Europe.
Smart Ultrasonic Gas Meter and Smart Diaphragm Gas Meter are two types of smart gas metres on the market. During the forecast period 2021-2027, the Smart Diaphragm Gas Meter sector is predicted to develop at a CAGR of percent. The expanding number of residential and light commercial buildings is driving the demand for smart diaphragm gas metres. The growing demand for gas in residential and commercial areas, as well as the necessity to provide gas supply with high reliability, are projected to drive the smart diaphragm gas metre market.
• Apator SA
• Honeywell International Inc.
• Itron, Inc.
• Xylem Inc.
• Secure Meter Limited
• Holley Technology Ltd.
• EDMI Limited
• EMH metering GmbH Co KG
Regional analysis is another highly comprehensive part of the research and analysis study of the Smart Gas Market presented in the MMR report. Local development plans are often affected by the performance of Smart Gas market. Our report briefly explains all the factors, market size, growth rate, import and export in regions covering North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. This research has provided market trends, key opportunities, factors affecting of particular regions, to examine the global and domestic Smart Gas market and these findings have been strategically presented in the report.
Most of the key players present in the Smart Gas Market are focusing on mergers and acquisitions to expand their geographic presence and gain a competitive edge. Meanwhile, some of the other players are updating their existing product portfolios and adding innovative screens to keep up with the high consumer demand and generate more sales.
Key questions answered in Smart Gas Market report
- What was the market size of Smart Gas Market in 2020 and forecast up to 2027?
- Which is the largest regional Smart Gas Market?
- What are the major trends followed in Smart Gas Market across different regions?
- Who is the key Smart Gas Market companies leading the market?
- What are the key strategies adopted by the leading Smart Gas Market companies in market?
- Unique data points of this report
- Statistics on Smart Gas Market penetration and spending worldwide
- Recent trends across different regions in terms of adoption of Smart Gas Market for various end-use.
- Notable developments going on in Smart Gas Market
- Attractive investment proposition for segments as well as geography
- Comparative scenario for all the segments for years 2020 (actual) and 2027 (forecast)
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