Global Smart Gas Meter (Commercial, Industrial, and Residential) Market Analysis and Forecast Report 2021 - 2027 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Smart Gas Meter Market By Type, By Technology, By Component, By End User, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" report has been added to ResearchAndMarkets.com's offering.

The Global Smart Gas Meter Market size is expected to reach $2.8 billion by 2027, rising at a market growth of 4.7% CAGR during the forecast period.

Smart gas refers to an emerging technology that is capable of automatically measuring the primary parameters like volume, pressure, and temperature of the gas that flows in the pipeline. In order to provide gas access to each person, the implementation of smart gas meters in commercial, industrial, and residential spaces is the ideal and upcoming step.

Due to the policies and regulations of governments around the world, the smart gas meter market has been successful in contributing to the global GDP. The global GDP is also supported by the partnership of gas exploring companies with smart gas meter makers.

The smart gas meter market is expected to grow at a rapid pace over the forthcoming years due to the fact that gas meters show no discrepancy. In addition to it, the global market is expected to witness various growth avenues due to the spike in the number of safety concerns and regulations.

Increasing consumption of energy in order to streamline two-way communication between the meter and central systems utilized by the utilities is acting as the catalyst for the growth of the global smart meter market. The development of the global smart meter market is expected to further be boosted by the growing number of supportive government initiatives.

In addition, the market is expected to witness new growth avenues due to the rising economic growth among the emerging countries. Though, the smart gas meter market is negatively affected due to the outbreak of the COVID-19 pandemic. The stringent lockdown across the world has created disruption in the supply chain and problems in the export & import of raw materials utilized in the development of smart meters.

Type Outlook

Based on Type, the market is segmented into Smart Diaphragm Gas Meter and Smart Ultrasonic Gas Meter. The Smart Diaphragm Gas Meter market dominated the Global Smart Gas Meter Market by Type 2020, growing at a CAGR of 4.4 % during the forecast period. The Smart Ultrasonic Gas Meter market is experiencing a CAGR of 5.1% during (2021 - 2027).

Technology Outlook

Based on Technology, the market is segmented into Automated Meter Reading (AMR) and Advanced Metering Infrastructure (AMI). The automated meter reading (AMR) segment is expected to emerge as the dominating segment in the smart gas meter market during the forecast period. Factors such as increasing demand for affordable smart gas meters and the requirement for automatically collecting meter readings without manual work are boosting the overall smart gas meter market.

Component Outlook

Based on Component, the market is segmented into Hardware and Software. On the basis of components, the hardware segment obtained the highest share of the smart gas meter market in 2020. The market is boosted by the massive demand for accurate smart gas meter operations. Moreover, makers are aiming for the development of hardware components with superior system integration and streamlined design in order to bring compactness and cost-efficiency to the smart gas meters.

End User Outlook

Based on End User, the market is segmented into Residential, Commercial and Industrial. The Residential market dominated the Global Smart Gas Meter Market by End User 2020, growing at a CAGR of 4.2 % during the forecast period. The Commercial market is estimated to grow at a CAGR of 5.2% during (2021 - 2027).

Regional Outlook

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The Asia Pacific market dominated the Global Smart Gas Meter Market by Region 2020. The Europe market is experiencing a CAGR of 4.6% during (2021 - 2027). Additionally, The North America market is poised to grow at a CAGR of 4.5% during (2021 - 2027).

Competitive Landscape

The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Honeywell International, Inc. is the major forerunner in the Smart Gas Meter Market. Companies such as Landis+Gyr Group AG, Xylem, Inc., Itron, Inc. are some of the key innovators in the market.

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.

Scope of the Study

Market Segments covered in the Report:

By Type

• Smart Diaphragm Gas Meter
• Smart Ultrasonic Gas Meter

By Technology

• Automated Meter Reading (AMR)
• Advanced Metering Infrastructure (AMI)

By Component

• Hardware
• Software

By End User

• Residential
• Commercial
• Industrial

Companies Profiled

• 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
• Hubbell, Inc.

Key Topics Covered:

Chapter 1. Market Scope & Methodology

Chapter 2. Market Overview

Chapter 3. Competition Analysis - Global

Chapter 4. Global Smart Gas Meter Market by Type

Chapter 5. Global Smart Gas Meter Market by Technology

Chapter 6. Global Smart Gas Meter Market by Component

Chapter 7. Global Smart Gas Meter Market by End User

Chapter 8. Global Smart Gas Meter Market by Region

Chapter 9. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/e5j834