Smart Gas Meter Market on Track to Hit USD 6.5 billion in 2023, Growing at 6% CAGR by 2030

Market Insights

As per recent research by MarkNtel Advisors, The Global Smart Gas Meter Market size is expected to be valued at around USD 6.5 billion in 2023 and is estimated to grow at a CAGR of about 6% during the forecast period, i.e., 2024-30.

Global Smart Gas Meter Market Driver:

Shift Towards Clean Energy to Supplement Smart Gas Meter Deployment – The growing preference for cleaner energy sources has led to heightened natural gas demand across diverse end-user sectors. This increased demand, supported by governmental initiatives to bolster gas utilization, has been a driving force behind the Smart Gas Meter Market's expansion.

Moreover, as per a Smart Energy GB survey on energy consumption in the UK, 86% of households equipped with smart meters have significantly adjusted their energy-saving habits. These behavioral shifts in energy consumption play a pivotal role in reducing energy emissions, thereby fostering growth in the market. Consequently, numerous suppliers are now advocating smart meter installations, often coupled with tailored tariff plans for residential usage, instigating market growth.

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Market Segmentation and Consumer Behavior:

By Technology
Automated Meter Reading (AMR)
Advanced Metering Infrastructure (AMI)
Standard (non-AMR/AMI) Meters

By Component

Hardware
Software

By End User

Municipal
Commercial
Industrial
Residential

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Smart Gas Meter Market Geographical Analysis:

By Region

North America
South America
Europe
Middle East and Africa
Asia Pacific

Key Players and Competitive Strategies in the Smart Gas Meter Market

Several prominent players dominate the Smart Gas Meter Market, including:

Itron
Elster
Pietro Fiorentini
Landis+Gyr
AEM
Meter Italia
Flonidan
Yazaki
Secure
Aichi Tokei Denki
Other

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Questions Addressed in this Study

1.What factors are driving the Smart Gas Meter Market growth?

2.How is the Smart Gas Meter Market expected to grow over the next five years?

3.What are the key insights into the current trends in the Smart Gas Meter Market?

4.What is the current size of the Smart Gas Meter Market, and how is it projected to change in the future?

5.What is the future outlook for the Smart Gas Meter Market in terms of technological advancements and market expansion?

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MarkNtel Advisors is a leading research, consulting, data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial varied client base, including multinational corporations, financial institutions, governments, individuals, among others.

Our specialization in niche industries emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing forecasting, trend analysis, among others, for 15 diverse industrial verticals.