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Smart Gas Meters Market Size Share Trends Growth Demand and Competitive Analysis Insights 2022-2029 | DataM Intelligence

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Smart Gas Meters Market Size Share Trends Growth Demand and Competitive Analysis Insights 2022-2029 | DataM Intelligence

September 09
02:35 2022
Smart Gas Meters Market Size Share Trends Growth Demand and Competitive Analysis Insights 2022-2029 | DataM Intelligence
DataM Intelligence
Global Smart Gas Meters Market is expected to reach a high CAGR of 16.1% during the forecast period (2022 – 2029).

Market Overview:

A smart gas meter routinely measures the fundamental residences of the fuel flowing via the pipeline, inclusive of strain, quantity and temperature. Government rules and requirements have pushed the smart fuel meter sector to contribute to worldwide GDP increase. Collaboration between fuel exploration companies and clever gasoline meter makers additionally contributed to the marketplace increase.

Furthermore, improved protection worries and standards have contributed to double-digit increase within the international clever gas meter market in latest years.

Due to the developing trend of switching from fossil fuels to gas for domestic purposes, fuel meters had been increasingly more mounted in the residential zone in latest years. The government’s incentives and subsidies to promote the use of gasoline are also assisting in expanding the residential zone.

Europe holds a good sized market percentage for clever gas meters because of developing government tasks for the simultaneous rollout of electricity meters, supported especially via the transforming infrastructure.

 

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Market Dynamics

Privacy and cyber security concerns hurdle the market growth of smart gas meters

The facts generated from the smart gasoline meter is utilized to track consumer behavior. As according to US EIA and European Union, periodic dimension of utility utilization with the aid of clever gasoline meters can provide extra data approximately purchasers, together with the usage of residential appliances and housework activities. The records on utility use has a great deal business fee, as an example, in advertising and advertising. Smart gasoline meters also are used in surveillance infrastructure. However, Smart gas meter facts, alternatively, is susceptible to cyber-assaults and records breaches. Law enforcement agencies, coverage firms, tax authorities and different 1/3 parties may be interested by smart fuel meters’ personal electricity use records.

As a result, government authorities which includes U.S. Environmental Protection Agency and the European Data Protection Supervisory Authorities have diagnosed these risks related to private statistics safety. They are developing new statistics protection requirements for clever gas meter operations. The privacy and safety problem is projected to be a primary stumbling block for the smart fuel meter market’s growth.

 

Market Segmentation

By Reading Type

  • Circular Reading
  • Direct Reading

By End-User

  • Commercial
  • Residential
  • Industrial

 

Competitive Landscape

The global smart gas meters market is highly competitive with local and global key players. Key players contributing to the market’s growth are SIT Group, Flonidan A/S, Fann Technology, Cambridge Consultants, Pietro Fiorentini S.p.a, SUNTRONT TECH CO., LTD, Honneywell Elster, Apator SA., STMicroelectronics, Panasonic and among others.

The major companies are adopting several growth strategies such as product launches, acquisitions and collaborations, contributing to the global growth of the smart gas meters market.

For instance, In August 2020, Flonidan A/S (Denmark) hired Apator SA’s subsidiary Apator Metrix S.A. and George Wilson Industries Ltd. to deliver gas meters to UK market.

 

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