BOULDER, Colo.--(BUSINESS WIRE)--A new report from Navigant Research analyzes the global smart gas meter market, providing market forecasts, broken out by segment, meter type, and region, through 2027.
The global natural gas metering market is undergoing a significant long-term transition. It is shifting from traditional meters or mobile reading devices to intelligent one- and two-way communicating meters, providing utilities with improved data management and network efficiency. Click to tweet: According to a new report from @NavigantRSRCH, global smart gas meter revenue, including hardware and software, is expected to grow from $1.9 billion in 2018 to $3.1 billion in 2027, representing a compound annual growth rate (CAGR) of 5.8%.
“The markets for smart gas metering technology vary significantly based on global region,” says Michael Hartnack, research analyst with Navigant Research. “Developed regions such as North America and Europe with nearly fully built-out gas and electric infrastructure are witnessing significant growth in retrofit gas metering projects, but lower growth in new meter installations and network expansion projects. Many of these installations have aligned closely with both electric advanced metering infrastructure (AMI) deployments and the increased adoption of advanced low power wide area (LPWA) networking technologies.”
Unlike electric AMI deployments, the business case for smart gas meters is more difficult to make for many utilities, especially gas-only utilities. According to the report, the lack of power at the meter and varying perspectives on the value of collected gas meter data are also among the challenges faced by gas utilities and smart gas metering solutions providers.
The report, Smart Gas Meters, identifies and discusses the technologies and strategies being used in the global smart gas meter (also known as gas AMI meter) market. The study examines the drivers, barriers, and regional and global trends affecting the deployment of smart gas meters. Global market forecasts, broken out by segment, meter type, and region, extend through 2027. The report also examines the key technologies related to smart gas meters, as well as the competitive landscape. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of clean, intelligent, mobile, and distributed energy. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, Smart Gas Meters, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.