Smart Gas Metering Systems Market - Growth Analysis, Business Strategies, Segmentation and Forecast 2024

A fundamental vertical of sustainable & smart technologies industry space, smart gas metering systems market has evolved as a highly lucrative business sphere. The increasing consciousness regarding energy conservation and saving has triggered the adoption of next-generation technologies that have outdone the traditional utilities used across the electricity sector. This paradigm shift has been taken note of duly by regional governments and regulatory bodies as well, that have been striving by the hour to adopt energy saving devices. Indeed, many regional governments have already begun to implement IoT based gas metering techniques across residential and commercial sectors, providing a major impetus to the overall smart gas metering systems industry outlook.
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Smart gas metering systems market size has been forecast to surpass USD 9 billion by the end of 2024.
Given that energy conservation has emerged as a major global issue of concern, smart gas meters have been forecast to help toward building an efficient energy network in the near future. Having recognized their potential, numerous governments, have started deploying high-tech smart meters in order to provide the benefits of clean energy products and digital technologies to grid operators and homeowners. The British government has been particularly proactive in this regard, and even plans to deploy next-generation smart gas meters for individual household usage. This installation is certain to help consumers monitor energy supply and tariff for time-based energy usage.
The adoption of smart gas meters has observed an escalating rise lately, pertaining to their incredible benefits. In accordance with the same, governments have been taking the necessary steps to implement a next-generation energy network, apart from the aforementioned initiatives. Energy companies have also been looking forward to innovating products with maximum operational efficiency. Research & developments programs are thus rampant in smart gas metering systems market.
Similar to Landis+Gyr, numerous other companies in smart gas metering systems market have been striving to bring about unique product offerings, on the grounds of which they have been inking strategic agreements with leading firms. In 2017, SK Telecom signed a MoU with Chongqing Gas, the Economic and Information Commission of Chongqing Province, and China Mobile for developing IoT assisted remote gas metering systems across Chongqing. The arrangement enabled users to monitor gas usage through smartphones in addition to helping metermen detect potential gas leakage. The ability of such utility devices to be operated via smartphones and desktop PCs will boost product demand, thereby driving smart gas metering systems market trends.
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As per reliable estimates, the United Kingdom presently has around 7.7 million smart gas and electricity meters installed across the nation. Indeed, the UK government aims to have close to 53 million smart meters live by the end of the decade. UK’s mission is being actively supported by Landis+Gyr, one of the key players of smart gas metering systems industry. In fact, the firm has been working on a special technology for years and has recently rolled out the SMETS2 for British Gas customers. SMETS2 is apparently renowned for seamlessly switching energy suppliers post installation and would help to bring about novel innovations in smart gas metering systems market.
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