The North America Smart Gas Meter Market would witness market growth of 4.5% CAGR during the forecast period (2021-2027). North America has always been at the forefront of technological advancements and obtains a major revenue share in the smart gas meter market.
Substitutions of current infrastructure with the latest technology and encouraging gas utilization have assisted the US to emerge as one of the major countries in gas production. This eventually will supplement the demand smart gas meter market. In the last few years, North America has observed a sharp rise in the installation of smart meters. The U.S. has been the leading nation, followed by Canada.
In the next few years, digital and advanced technologies would make systems more effective, connected, sustainable and reliable across the world. Moreover, technological developments in data analytics and connectivity are enabling various new digital applications, like smart appliances, shared mobility, and 3D printing. The making of the ultra-modern smart meters is encouraged by the ongoing and consistent advancement of the communication network framework. Further, the development of smart meters is boosted by the availability of network infrastructures like radio frequency, 5G, 4G, and others. The makers are constantly involved in the production of modern smart meters as per the increasing network infrastructure; thereby creating bright growth prospects for the smart gas meter market.
The US market dominated the North America Smart Ultrasonic Gas Meter Market by Country 2020, thereby, achieving a market value of $256.7 million by 2027. The Canada market is experiencing a CAGR of 7.3% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 6.4% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Smart Gas Meter Market is Estimated to Reach USD 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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By End User
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