The Europe Smart Gas Meter Market would witness market growth of 4.6% CAGR during the forecast period (2021-2027). A digital meter that keeps track of utility utilization and shares the required information with the utility suppliers is known as a smart meter.
The smart meter utilizes two-way communication; firstly, it keeps track of data utilization and then transfers the information to the utility organizations. These meters are considered electric meters that will offer information about the consumption of energy by the end-users. A smart meter is one of the major parts of the smart grid that helps in the management of energy distribution and consumption in order to develop coordination, control, and communication. These meters comprise three components viz. microcontroller, power system, and communication interface.
There has been the highest number of rollouts in the Europe region by numerous countries in order to improve their smart gas meter installations. The installations of smart gas meters have been fuelled due to the switch towards renewable ways to attain long-term and short-term green energy objectives. The existence of leading market players and passionate gas meter rollouts helped Europe to become an attractive region to enhance business regarding smart gas meter sales. Leading countries in the region that have adopted massive smart gas meters rollouts are Italy, UK, Spain, Luxemburg, and Sweden. Observing the plans of these countries, other nations have also encouraged their smart gas meter installations. This, in turn, would boost the development of the regional market during the forecast period.
Factors like the advancement of communication network infrastructure, massive advancement in the domain of advanced metering infrastructure, and favorable government regulations act as catalysts for the growth of the smart gas meter market. Utilities are installing these solutions for their massive advantages. For example, in May 2020, the utility Indianapolis Power & Light opted for Landis+Gyr to increase its ultra-modern infrastructure program. They would make use of 350,000 smart meters and update the utility’s current network in order to optimize data telemetry by already installed smart meters, which would aid them in improving the management of energy distribution, incorporation of renewable resources, consumer energy efficiency, and quality of service. The growth of the smart gas meter market would be driven by the constant and massive development & demand for the advanced metering framework.
The Germany market dominated the Europe Advanced Metering Infrastructure (AMI) Smart Gas Meter Market by Country 2020, thereby, achieving a market value of $59.4 million by 2027. The UK market is exhibiting a CAGR of 4.7% during (2021 - 2027). Additionally, The France market is poised to witness a CAGR of 6.3% during (2021 - 2027).
Based on Type, the market is segmented into Smart Diaphragm Gas Meter and Smart Ultrasonic Gas Meter. Based on Technology, the market is segmented into Automated Meter Reading (AMR) and Advanced Metering Infrastructure (AMI). Based on Component, the market is segmented into Hardware and Software. Based on End User, the market is segmented into Residential, Commercial and Industrial. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Smart Gas Meter Market Size will Hit $2.8 Billion by 2027, at a CAGR of 4.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Honeywell International, Inc., Fujitsu Limited, Xylem, Inc. (Sensus), Landis+Gyr Group AG, Itron, Inc., Apator S.A., Diehl Stiftung & Co. KG, Wasion Group (Star Treasure Investments Holdings Limited), Arad Group, and Hubbell, Inc.
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