Smart gas meters mechanically measure the basic parameters likewise volume, pressure and temperature of the gas flowing in the pipeline. Installation of the smart gas meter in commercial, industrial and residential spaces is the next step towards carrying the admittance to gas for every individual. Government’s standards and policies have strapped the smart gas meter market to pump into the around the globe GDP.
According to the report analysis, ‘Smart Gas Meter Market: Current Analysis and Forecast (2021-2027)’ states that governments across the world are employing policies to encourage renewable energy sources and smart metering solutions to deduct and keep a track on entire energy consumption. Due to augmented government spending and digitalization of energy segment, market for smart metering solutions comprising smart gas meter is predicted to grow at a speedy pace in the coming few years. Data collected by smart gas meter is utilized to monitor the behavior of residential consumers. According to US EIA and European Union, unceasing tracking of utility consumption by smart gas meters can expose other information about residential customer, such as the usage of household appliances and house-work activities. Furthermore, Smart gas meters can also be utilized as an infrastructure for mass scrutiny.
Further, in the 2020, Landis+Gyr partnered with Hongkong Electric Co., Ltd. (HK Electric) to propose AMI to assistance Hong Kong’s transformation into a smart city. Under the contract the company would organize Landis+Gyr’s Gridstream solution platform entailing Landis+Gyr smart meters, communications infrastructure, head-end system, and meter data management system.
On the basis of technology, the global smart meter market is classified into Automated Meter Reading (AMR) and Advanced Metering Infrastructure (AMI). Currently, Automated Meter Reading (AMR) segment register the market and is predicted to maintain its dominance throughout the forecast duration.
Based on component, the market is categorized into Hardware and software component. Hardware segment registered the market during 2020. The effective growth in demand for precise gas meter is predicted to propel the market. Furthermore, smart gas meter manufactures are aiming more on decreasing the hardware component with high level of system integration and streamlining design, this would further quicken the market growth.
Based on end-user the market is categorized into residential, commercial and industrial end-users. Currently residential sector dominates the market and is projected to manage its dominance during the reviewed period. Underdeveloped countries in the North America and European region are deploying smart gas meter on great scale in the households, this would further propel the market for residential smart gas meter.
In addition, the foremost drivers for the smart gas meter market comprise digitalization of distribution grids and optimization of network functions; asset management of advanced metering infrastructure (AMI); and growing investment in smart grid technologies to measure and analyse data. Therefore, in the near years, it is predicted that the market of smart gas meter will increase around the globe more actively over the near future.
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