Smart Gas Meter Market by Technology, Type, Component, End-user and Region - Global Forecast to 2026 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Smart Gas Meter Market by technology (AMR and AMI), Type (Smart Ultrasonic Gas Meter and Smart Diaphragm Gas Meter), Component (Hardware and Software), End User (Residential, Commercial, and Industrial), and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global smart gas meter market size is projected to grow from an estimated USD 2.0 billion in 2021 to USD 2.5 billion by 2026, at a CAGR of 4.7% from 2021 to 2026.

The key drivers for the smart gas meter market include digitalization of distribution grids and optimization of network operations; asset management of advanced metering infrastructure (AMI); and increasing investment in smart grid technologies to measure and analyze data.

The automated meter reading (AMR) segment is expected to hold the largest share of the smart gas meter market, by technology, during the forecast period.

The automated meter reading (AMR) segment is estimated to lead the smart gas meter market during the forecast period. The market for smart gas meter is driven by the growing demand for cost-effective smart gas meters and the need for automated collection of meter readings without physical inspection. The Asia Pacific is estimated to hold the largest share of the smart gas meter market, followed by Europe because the increasing installation of smart gas meters in residential, commercial and industrial end-user sectors is expected to drive the market.

Asia Pacific: The fastest-growing market for smart gas meters.

The Asia Pacific is the fastest-growing market for smart gas meters, followed by Europe. The region has been segmented, by country, into China, Japan, Malaysia, Australia, Indonesia, Singapore, and the Rest of the Asia Pacific. China is the largest and fastest-growing market in the region. The country currently leads the table for new investments in smart grid technologies. China managed to become the major consumer of smart grid technology because of the massive transformation taking place in the country's energy landscape. The country's ambitious renewable energy program will generate a tremendous need for smart grid technologies. The requirement for the smart grid market is further supported by China's focus on embracing energy efficiency, thus, increasing demand for the smart gas meter market.

Market Dynamics

Drivers

• Digitalization of Distribution Grids and Optimization of Network Operations
• Asset Management of Advanced Metering Infrastructure (Ami)
• Increasing Investments in Smart Grid Technologies to Measure and Analyze Data

Restraints

• Concerns Pertaining to Data Privacy & Security and Consumer Health
• Requirement of High Upfront Cost for Smart Gas Infrastructure

Opportunities

• Growing Emphasis on Smart Grid Initiatives and Modernization of Gas Networks
• Integration of Artificial Intelligence (Ai) into Smart Gas Meter Operations

Challenges

• Delayed Realization of Return on Investment (Roi) due to Complexity in Integration of Devices
• Negative Impact of COVID-19 Pandemic on Smart Gas Meter Market

Companies Mentioned

• Aclara Technologies
• Adya Smart Metering
• Aichi Tokei Denki
• Apator Group
• Chint
• Chongqing Shancheng Gas Equipment
• Dandong Dongfa (Group)
• Diehl Metering
• Discovergy GmbH
• EDMI
• Fujitsu
• Honeywell International
• ITRON
• Landis+Gyr
• Master Meter
• Pietro Fiorentini
• Powercom
• Raychem RPG
• Sagemcom
• Secure Meters
• Sensus (Xylem)
• SNS Technosys
• Ultan Technologies
• Wasion Group
• Zenner

For more information about this report visit https://www.researchandmarkets.com/r/qzenr6