Global Smart Gas Meters Market
Global Smart Gas Meters Market: About this market
Technavio’s smart gas meters market analysis considers sales from both automatic meter reading (AMR) and advanced metering infrastructure (AMI) technologies. Our study also finds the sales of smart gas meters in APAC, Europe, North America, Rest of the World (ROW). In 2019, the AMR segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as technological advancements will play a significant role in the AMR segment to maintain its market position. Also, our global smart gas meters market report looks at factors such a rise in global demand for natural gas, and benefits of smart gas meters. However, high capital and operational costs, infrastructural and standardization challenges, and lack of awareness may hamper the growth of the smart gas meters industry over the forecast period.
Global Smart Gas Meters Market: Overview
Benefits of smart gas meters
Smart gas meters are the next generation meters for measuring gas consumption. It uses a secure communication network using radio frequency to send the gas usage wirelessly and automatically to the gas supplier. Some of the other benefits of smart gas meters are high billing accuracy along with greater analysis of gas usage and higher safety. Smart gas meters prevent gas leaks and fires by detecting defective appliances, carbon monoxide leaks, gas leaks, and faulty wiring, which make the smart gas meter installation a safety measure. Such benefits will lead to the expansion of the global smart gas meters market at a CAGR of over 7% during the forecast period.
Development of PAYG meters
Growing technologies and the rise in the consumption of gas across the world have led to many inventions in the gas sector. One such innovation is PAYG meters, also known as prepayment meters or credit meters, which allow the users to pay for gas before using the gas, just like prepaid mobile phones. The payment can be made via a token or a smartcard. PAYG gas meters enable customers to monitor gas usage and expenses. The installation of such prepaid gas meters at households will assure access to high-quality gas, and with the PAYG system, gas suppliers will be assured of payment through convenient mobile money services, thus serving as an incentive to expand gas infrastructure and network. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global smart gas meters market during the forecast period 2020-2024, click here.
With the presence of several major players, the global smart gas meters market is moderately fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading smart gas meters manufacturers, that include Aichi Tokei Denki Co. Ltd., Apator SA, Diehl Stiftung & Co. KG, Honeywell International Inc., Itron Inc., Landis+Gyr AG, Wasion Holdings Ltd., Xylem Inc., Yazaki Corp., ZENNER International GmbH & Co. KG, Aclara Technologies LLC,AEM SA, Dandong Dongfa (Group) Co. Ltd., EDMI Ltd., Fanna Technology.
Also, the smart gas meters market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook