According to a research report “ Smart Gas Meters Market” by Technology (AMR, AMI) Component (Hardware, Software) Geography (Europe, North America, APAC, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 3376.7 million, at a CAGR of 10.87% during the forecast period. In the business realm, the implementation of smart gas meters and energy meters is a strategic investment for optimizing natural gas consumption. These advanced devices enable real-time monitoring and tracking of gas usage, empowering users to make informed decisions and adopt cost-saving practices. By providing instantaneous consumption data, smart gas meters facilitate effective gas management at residential, commercial, and industrial facilities. This level of visibility into gas usage patterns allows users to identify opportunities for reducing consumption, such as turning off appliances when not in use, ultimately leading to substantial cost savings for businesses. Power utilities recognize the value of these devices and are actively deploying and installing them to enhance their customers' operational efficiency and bottom line..
Browse market data tables, figures, and in-depth TOC on “Smart Gas Meters Market” by Technology (AMR, AMI) Component (Hardware, Software) Geography (Europe, North America, APAC, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample
By Technology, the AMR segment is projected to dominate the market size in 2024
In the realm of gas utility management, Automatic Meter Reading (AMR) systems play a pivotal role in streamlining operations and enhancing efficiency. These systems facilitate a unidirectional communication link between gas consumers and utility providers, enabling the automatic collection of gas consumption, diagnostic, and status data from gas meters. This information is then transmitted to a central database, eliminating the need for manual meter readings and ensuring accurate billing. Furthermore, AMR technology empowers gas companies to effectively analyze and troubleshoot gas usage patterns, thereby optimizing their operations and delivering superior customer service.
By Component, Hardware segment is expected to hold the largest market size for the year 2024
The global smart gas meters market's hardware segment is poised for substantial expansion, driven by the burgeoning Oil & Gas industry's growth. This sector utilizes smart gas meters to precisely measure the consumption of liquefied petroleum gas (LPG) and natural gas (NG). The hardware segment comprises the smart gas meter's hardware components, such as the electric meter motherboard, display, sensor with microthermal properties for measuring gas volume, instrument housing, and plastic cover. By implementing smart gas metering, gas companies can optimize their business operations, including energy production, distribution, and deliveries, while reducing costs and allocating resources more efficiently.
Europe is forecasted to hold the largest market size by region in 2024
The Smart Gas Meters market is experiencing significant growth due to increasing demand for advanced metering solutions. These innovative meters offer real-time consumption data, enabling businesses to optimize energy usage and reduce costs. Additionally, regulatory mandates and infrastructure upgrades are driving market expansion. Smart Gas Meters deliver enhanced accuracy, security, and efficiency, making them a smart business investment.
The Smart Gas Meters Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
For insights on company offerings- Request a sample report!
Research Analysis Overview
The Smart Gas Meters market is experiencing significant growth, with companies like Sensirion leading the way with innovative solutions such as the SGM6200 series. These smart meters offer enhanced safety features for residential buildings, ensuring operational security and ongoing pipeline monitoring. With the integration of NB-IoT technology, these meters enable real-time communication, providing businesses and electrical utilities with valuable drill-down data on energy consumption costs. As energy efficiency initiatives become increasingly important, natural gas remains a key player in the economy's strength. Emerging standards, such as elimination of conventional meters, are driving the adoption of smart gas meters. Sensirion's accurate and dependable meters contribute to climate target achievements, making them a popular choice for both residential and commercial applications. The ongoing recovery of businesses reopening in Berwick-on-Tweed and drilling activities in the energy sector further highlight the importance of smart gas meters. With their ability to provide automated grid communication, these meters offer businesses and utilities the ability to monitor energy consumption in real-time, ensuring both cost savings and improved operational efficiency. In summary, the smart gas meter market is poised for continued growth, with companies like Sensirion leading the way in safety, accuracy, and communication technology. The adoption of these meters is essential for energy efficiency initiatives, cost savings, and operational security in the natural gas industry.
Market Research Overview
The Smart Gas Meters Market is witnessing significant growth due to the prioritization of accuracy and dependability in the utility sector. Technologically advanced smart meters, such as Temetra's U6 gas meter, are being adopted by gas utility providers to enhance network efficiency, reduce methane emission detection, and ensure operational security. These meters offer ultra-low current consumption, enabling real-time data collection and prioritized alarms for safety concerns. Start-ups like SMS PLC company and manufacturing plants are investing in smart meters to meet the functional benefits of energy efficiency initiatives and energy consumption costs. The SGM6200 series by Sensirion, for instance, provides high connectivity through NB-IoT and offers smart leak detection and ongoing pipeline monitoring. Despite the slow economic recovery, the shipment volume of smart gas meters is expected to reach millions of units in the coming years, driven by emerging standards and the need for fuel efficiency in residential buildings and industrial applications. Gas companies are conducting cost-benefit analyses to implement these solutions, considering the climate target, energy consumption costs, and ongoing drilling activities. The smart grids and communication infrastructure are essential for the implementation of these systems, ensuring high connectivity and automated grid management. Safety, accuracy, and real-time data are key functional benefits, making smart gas meters a priority for businesses reopening in Berwick-on-Tweed and other population-dense areas. Picarro and other leading companies are focusing on the development of technologically advanced solutions to meet the growing demand for smart meters in the natural gas industry.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
Safe and Secure SSL Encrypted
One user only.
Quick & easy download option
Unlimited user access (Within your organization).
Complimentary Customization Included
*For Enterprise license, go to checkout page
Get the report (PDF) sent to your email within minutes.
