July 2016, Vol. 243, No. 7


Smart Gas Meter Market Worth USD 2.27 Billion by 2021

Research and Markets has announced the release of the “Smart Gas Meter Market – Global Trends & Forecast to 2021” report.

The smart gas meter market is projected to grow at a CAGR of 7.24% from 2016 to 2021 to reach USD 2.27 Billion by 2021. Government policies and mandates in developed economies and accurate billing and improved customer service are the major factors driving the market.

The report segments the smart gas meter market on the basis of end-user into residential, commercial, and industrial. Residential customers are the largest end-users of smart gas meters, followed by commercial and industrial customers.

The global gas pipeline network construction in the residential segment has accounted for approximately 1,054 km in the past five years. Another 100 km are expected to be constructed in the next two to three years, which would boost the smart gas meter market in this segment.

North America is the largest market for smart gas meters, followed by Europe and Asia-Pacific. Factors such as investments in smart grid, smart city and gas pipeline networks, and drive toward reducing carbon emissions would positively impact the smart gas meter market globally.

The demand for smart gas meters can be directly linked to the development of gas pipeline networks and investments in smart cities and smart grid infrastructure.

Health and cybersecurity issues related to the usage of smart gas meters could restrain growth to a certain extent, with customer unwillingness and interoperability issues being significant challenges of this market. However, smart grid investments offer lucrative growth opportunities for the smart gas, according to the report.

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