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Smart Gas Meter Market Size

Report ID: GMI1234
Published Date: Mar 2022
Report Format: PDF

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Smart Gas Meter Market Size

Smart Gas Meter Market size exceeded USD 6.4 billion in 2023 and is expected to grow at over 17.3% CAGR between 2024 and 2032. The growing awareness of the efficient utilization of energy resources in line with rising effective real-time monitoring will augment the industry scenario.

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Ongoing technological enhancements in the integration of intelligent metering networks with an IoT-enabled platform to ensure efficient gas consumption monitoring patterns will fuel the market demand. Additionally, emerging intelligent & sustainable gas management solutions for accurate billing mechanisms along with remote metering will stimulate product adoption. Moreover, favorable government mandates & incentives for the installation of smart gas metering systems will positively influence the industry statistics.

Smart Gas Meter Market Report Attributes
Report Attribute	Details
Base Year:	2023
Smart Gas Meter Market Size in 2023:	USD 6.4 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	17.3%
2032 Value Projection:	USD 27.6 Billion
Historical Data for:	2019 to 2023
No. of Pages:	230
Tables, Charts & Figures:	338
Segments covered:	Application, Technology
Growth Drivers:	Favorable government regulations and directives Energy conservation Accuracy & optimization in billings Effective monitoring and enhanced operational efficiency
Pitfalls & Challenges:	Privacy and cyber security concerns

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Authors: Ankit Gupta, Shubhankar Dimri

Frequently Asked Questions (FAQ) :

The market size of smart gas meter crossed USD 6.4 billion in 2023 and will witness a CAGR of over 17.3% through 2032, driven by a higher need to monitor & calculate the overall gas consumption.

The market revenue of residential smart gas meters is expected to exceed USD 5 billion by 2028 on account of the thriving need for end-to-end web monitoring technologies and the mounting consumer awareness regarding effective gas management.

The AMI smart gas meters segment is likely to depict growth at a CAGR of more than 24% between 2022 and 2028 due to the rising investments led by utilities.

Europe is anticipated to account for a significant market share by 2028 impelled by the regulation of severe government mandates and rise in the number of metering programs for replacing the existing devices with intelligent IoT-based metering solutions.