Smart Meter Market size is Expected to Reach $54.34 Billion by 2030 | Registering a CAGR of 10.10%

WILMINGTON, DELAWARE , UNITED STATES, September 29, 2023 /EINPresswire.com/ -- Allied Market Research published a report on the Smart Meter Market by Product, and End Use: Global Opportunity Analysis and Industry Forecast, 2021-2030. 

The global smart meter market size was valued at $21.79 billion in 2020 and is projected to reach $54.34 billion by 2030, growing at a CAGR of 10.10% from 2021 to 2030.

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Smart meter is the next generation of a gas, water, electricity meter that measures how much gas, water and electricity are using. Smart meter shows a digital meter reading and uses a secure smart data network to automatically and wirelessly send the readings to energy supplier at least once a month, so someone will receive accurate, not estimated bills. In addition, smart meters also come with in-home display screen, which shows exactly how much energy are used, in near real time.

Smart gas meters are the electronic devices that measure gas flows and the consumption of the gas, and provides provide the information of how much gas has been consumed and its relevant costing. Smart gas meters are equipped with the shock and leakage detection system for increasing the safety to a great extent. The smart gas meter installations help gas companies with some major operational advantages including the elimination of noting monthly reading manually, availability of real-time data, and continuous monitoring of pipeline.

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Competitive Analysis: 
The competitive environment of the smart meter industry is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, smart meter market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.

Some of the major key players of the smart meter industry include:
⦁ Itron Inc.
⦁ Landis+Gyr
⦁ Schneider Electric SA
⦁ Siemens AG
⦁ Badger Meter
⦁ EDMI
⦁ Holley Metering Limited
⦁ Neptune Technology Group Inc.
⦁ Sensus
⦁ Honeywell International Inc.
⦁ Kaifa Technology
⦁ Suntront Technology
⦁ Kamstrup Company
⦁ Aichi Tokei Denkei
⦁ Wasion Group

The major factor that drives the smart meter market is supportive government policies and financial incentives. In addition, large scale installations of the smart meters by the utility companies are focusing on strengthening the distribution of smart meters. However, high cost of installations of the smart meters borne by end users restrain the growth of the smart meter market. Various grid operators and other gas utility and water utility providers are effectively managing the demand for smart meters. However, various benefits offered by the smart meter market such as automatic meter reading and bill generation are further expected to contribute toward the growth of the smart meter market.

The report focuses on the growth prospects, restraints, and trends of the smart meter market analysis. The study provides Porter’s five forces analysis to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers in the smart meter market.

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Key Benefits for Stakeholders:
⦁ This study comprises analytical depiction of the global smart meter market outlook along with the current trends and future estimations to depict the imminent investment pockets.
⦁ The overall smart meter market analysis is determined to understand the profitable trends to gain a stronger foothold.
⦁ The report presents information related to key drivers, restraints, and smart meter market opportunities with a detailed impact analysis.
⦁ The current smart meter market forecast is quantitatively analyzed from 2021 to 2030 to benchmark the financial competency.
⦁ Porter’s five forces analysis illustrates the potency of the buyers and the smart meter market share of key vendors.
⦁ The report includes the market trends and the market share of key vendors.

About Us:
Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.   

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Allied Market Research
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