Revenue generation in the global smart gas meters market is expected to grow from $1.9 billion in 2018 to $3.1 billion in 2027.
Navigant Research forecasts the 5.8% market growth to be driven efforts by utilities to improve data management, network efficiency, revenue collection and to reduce operational expenses.
Utilities are thereby shifting from traditional meters or mobile reading devices to intelligent one-and two-way communicating smart gas meters.
Key study findings include:
- The global smart gas metering market is undergoing a significant long-term transition
- The business case for smart gas meters remains more challenging than electric deployments
- The lack of power at the meter and varying perspectives on the value of collected gas meter data are challenges being faced by utilities and smart gas metering solutions firms
Michael Hartnack, research analyst with Navigant Research, said: “The markets for smart gas metering technology vary significantly based on global region.
“Developed regions such as North America and Europe with nearly fully built-out gas and electric infrastructure are witnessing significant growth in retrofit gas metering projects, but lower growth in new meter installations and network expansion projects.
“Many of these installations have aligned closely with both electric advanced metering infrastructure (AMI) deployments and the increased adoption of advanced low power wide area (LPWA) networking technologies.”
For more information about the report, visit Smart Gas Meters