Smart Gas Meter Market to Reach $5.99 Billion, Globally, by 2027 at 6.9% CAGR: Allied Market Research

Development of communication network infrastructure, advancements in the field of advanced metering infrastructure, and several government initiatives fuel the growth of the global smart gas meter market

News provided by

Allied Market Research

Dec 01, 2020, 07:50 ET

PORTLAND, Ore., Dec. 1, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Smart Gas Meter Market by Type (Automated Metering Infrastructure (AMI) and Automated Meter Reading (AMR), Component (Hardware and Software), and End Use (Residential, Commercial, and Industrial): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global smart gas meter industry was estimated at $3.71 billion in 2019, and is anticipated to hit $5.99 billion by 2027, registering a CAGR of 6.9% from 2020 to 2027.

Prime determinants of growth-

Development of communication network infrastructure, advancements in the field of advanced metering infrastructure, and several government initiatives drive the growth of the global smart gas meter market. On the other hand, high installation and maintenance cost of smart gas meters impedes the growth to some extent. However, emergence of smart city project in emerging countries is expected to create lucrative opportunities in the industry.

Download Sample Report: https://www.alliedmarketresearch.com/request-sample/2406

Covid-19 scenario-

Halted production, in the first phase of the lockdown, affected the smart meter manufacturing units across the globe, which impacted the global market for smart gas meter negatively.
The lockdown measures also led to a sharp decline in demand for industrial, commercial, and residential use of smart gas meters.
However, manufacturing and supply of smart gas meter is now returning to normalcy and the market is expected to get back to its position soon.

The hardware segment to dominate by 2027-

Based on component, the hardware segment contributed to nearly three-fourths of the global smart gas meter market share in 2019 and is expected to rule the roost by the end of 2027. The same segment is also projected to register the fastest CAGR 7.2% throughout the forecast period. This is due to rise in need to enhance the efficiency of the big data analytics tools.

Get detailed COVID-19 impact analysis on the Smart Gas Meter Market – Click Here

The residential segment to maintain the dominant share-

Based on end use, the residential segment accounted for nearly half of the global smart gas meter market revenue in 2019 and is anticipated to rule the roost from 2020 to 2027. The same segment would also manifest the fastest CAGR of 7.5% during the forecast period. Rapid industrial development and surge in demand for advance gas meter from residential sectors fuel the growth of the segment.

North America garnered the major share in 2019-

Based on geography, North America held the major share in 2019, generating more than two-fifths of the global smart gas meter market. High demand for powerful smart gas meters with edge intelligence capabilities coupled with advanced data analytics drive the growth of the market in the province. Europe, on the other hand, would portray the fastest CAGR of 7.8% by 2027. Shifting toward the renewables to achieve long-term green energy target has increased smart gas meter installations across the continent.

Interested? Do Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/2406

Key players in the industry-

Itron Inc.
Landis+Gyr
Honeywell International Inc
Siemens AG
Badger Meter
EDMI
Schneider Electric SA
Apator SA.
Sensus
Aclara Technologies

Access AVENUE - A Subscription-Based Library (Premium On-Demand, Subscription-Based Pricing Model) @ https://www.alliedmarketresearch.com/library-access

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request For 14 Days Free Trial of Before Buying:

https://www.alliedmarketresearch.com/avenue/trial/starter

Similar Reports:

Smart Meter Market By Product (Smart Electricity Meter, Smart Gas Meter, and Smart Water Meter), and End Use (Residential, Commercial, and Industrial): Global Opportunity Analysis and Industry Forecast, 2020–2027

Current Sensor Market by Type (Open Loop and Closed Loop), Current Sensing Technology (Hall Effect, Current Transformer, Flux Gate, and Rogowski Effect), and End Use (Automotive, Consumer Electronics, Industrial, Telecommunication, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027

Photolithography Equipment Market by Process (Ultraviolet, Deep Ultraviolet, and Extreme Ultraviolet), Application (Front-end and Back-end), and Light Source (Mercury Lamp, Fluorine Laser, Excimer Laser, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027

Epitaxial Wafer Market For Compound Semiconductor By Application (CS Power Electronics, CS RF/Microwave, CS Photonics, CS Sensing, and CS Quantum) and End User (Digital Economy, Industrial and Energy & Power, Defense/Security, Transport, Consumer Electronics, Healthcare, and Space): Global Opportunity Analysis and Industry Forecast, 2020–2027

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
-800-792-5285, 1-503-894-6022, 1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn and Twitter