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The smart gas meters market size is forecast to increase by USD 3.38 billion at a CAGR of 10.87% between 2023 and 2028.
The smart gas meters industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The amr segment is estimated to witness significant growth during the forecast period.
Smart gas meters represent the next generation of automated meter reading (AMR) systems, offering enhanced capabilities and benefits for both residential buildings and businesses. These advanced meters establish two-way communication networks with gas utility providers, enabling real-time data exchange on gas consumption, operational security, and ongoing pipeline monitoring. The adoption of smart gas meters is gaining momentum due to population density, the slow economic recovery, and the increasing focus on energy efficiency initiatives. Companies like Sensirion and Picarro lead the market with technologically advanced solutions, offering functional benefits such as prioritized alarms, methane emission detection, and ultra-low current consumption.
Gas companies are increasingly investing in smart meters to streamline their operations, reduce gas utility providers' costs, and improve safety. These meters provide accurate and dependable data for energy consumption costs, fuel management, and automated grid optimization. The implementation of smart meters involves the installation process of the U6 gas meter, manufacturing plants, and meter data collection systems. Developments in NB-IoT communication, SMS PLC, and start-ups are contributing to the growth of this market. The market dynamics are influenced by the economy's strength, drilling activities, and emerging standards. Smart grids and high connectivity are essential aspects of smart gas meters, offering real-time data and drill-down data for energy management and climate target achievements.
The cost-benefit analysis of smart meters outweighs the initial investment, making them a valuable addition to the utility sector.
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The AMR segment was valued at USD 2.54 billion in 2018 and showed a gradual increase during the forecast period.
Europe is estimated to contribute 42% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The European the market is experiencing significant growth due to the increasing dependence on gas imports and the subsequent need for operational security and ongoing pipeline monitoring. With population density in residential buildings and businesses reopening, the adoption of technologically advanced smart meters from companies like Sensirion and Picarro is becoming a priority. Gas utility providers are investing in networks based on emerging standards such as NB-IoT for real-time data collection and prioritized alarms. The implementation of smart leak detection and methane emission detection systems is also essential for energy consumption cost savings and safety.
Gas companies are conducting cost-benefit analyses to optimize their infrastructure and implement management solutions with ultra-low current consumption. Developments in the utility sector, including automated grids, climate targets, and energy efficiency initiatives, are driving the market's growth. The SGM6200 series and communication solutions from SMS PLC company are gaining traction due to their accuracy and dependability. Despite the slow economic recovery, the market's strength is evident in the increasing shipment volume and the functional benefits of smart meters for gas heating systems, manufacturing plants, and start-ups. The integration of ultra-high connectivity and communication technologies is enabling the transition from conventional meters to smart meters, making energy management more efficient and cost-effective.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The smart gas meters market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the smart gas meters market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, smart gas meters market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
AEM SA - The company specializes in advanced gas metering solutions, including the G4EUS, GNM G4J, and GNM G42l models. These smart meters leverage innovative technology to enhance energy efficiency and accuracy in gas consumption measurement. By integrating real-time data analytics and remote monitoring capabilities, these meters enable effective energy management and cost savings for businesses and households.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The smart gas meter market is experiencing significant growth as residential buildings and businesses reopen following pandemic-related closures. This trend is driven by the increasing prioritization of operational security and ongoing pipeline monitoring in the utility sector. The shift towards smart gas meters is influenced by various factors, including population density and the need for greater accuracy and dependability in energy consumption measurement. Conventional meters have long been the standard for measuring gas consumption, but their limitations are becoming increasingly apparent. Smart gas meters, with their high connectivity and real-time data capabilities, offer numerous functional benefits. These benefits include cost savings for gas companies through more efficient meter data collection and elimination of manual readings, as well as energy efficiency initiatives for consumers.
The adoption of smart gas meters is also driven by emerging standards and the integration of technologies such as NB-IoT and Picarro's gas sensing solutions. These advancements enable more accurate and dependable measurement of fuel consumption, as well as the ability to detect leaks and methane emissions in real-time. The economy's strength and slow economic recovery are also contributing factors in the growth of the smart gas meter market. Gas utility providers are recognizing the cost-benefit analysis of implementing smart gas meters, which offer ultra-low current consumption and prioritized alarms for safety concerns. The manufacturing sector, particularly in industries such as chemical and petrochemical, is also a significant contributor to the market.
The installation process for smart gas meters is streamlined, making it easier for manufacturing plants to integrate these technologies into their current infrastructure. The use of smart gas meters extends beyond residential and commercial applications. They are also being adopted in the energy sector, where they contribute to the development of smart grids and automated gas supplies. These systems enable more efficient energy management and help utilities meet their climate targets. Start-ups and established players alike are investing in the development of technologically advanced smart gas meters. Companies such as Temetra and SMS Plc are leading the way in innovation, offering solutions that cater to various industries and applications.
The market for smart gas meters is expected to continue growing as more businesses and consumers recognize the benefits of these technologies. With the increasing focus on energy efficiency and operational security, the demand for accurate and reliable gas consumption measurement is only set to increase. In , the smart gas meter market is experiencing significant growth due to the increasing demand for accurate and dependable gas consumption measurement, the integration of emerging technologies, and the need for operational security and energy efficiency initiatives. The market is expected to continue growing as more businesses and consumers recognize the benefits of these technologies.
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Market Scope |
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Report Coverage |
Details |
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Page number |
168 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 10.87% |
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Market growth 2024-2028 |
USD 3376.7 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
9.53 |
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Key countries |
US, Germany, UK, China, and Japan |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Technology
7 Market Segmentation by Component
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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