Latin America Smart Meters Market Outlook to 2028

Latin America Smart Meters Market Outlook to 2028

Despite government roll-outs for large-scale incorporations, the key drivers are theft prevention and reduction of other non-technical losses, as well as functionality upgrades such as the ability to operate utilities remotely and time-based pricing.

When it comes to smart meters, Mexico and Brazil top the Latin American area. Utilities in Brazil have experimented with smart meters ranging from prototypes to multimillion-meter deployments.

The Secretary de Energa, Mexico's federal energy ministry, and the Comisión Federal de Electricidad (CFE), the country's national electric power company, are implementing smart grid pilot programs across the country in an effort to combat high rates of electricity theft, power outages, and lacking energy infrastructure.

market for smart water meters, on the other hand, is in its infancy in the area, with no large-scale deployments. However, water shortages in several countries have prompted the start of experimental stages.

Key Market Trends:

Major nations in the area have already enacted measures to improve their energy efficiency, and others are following suit. Such developments in the region are compelling companies and households to implement energy-saving measures.

Through the use of smart grids and smart metering systems provides alternatives to reduce energy waste in the sector. Smart metering systems allow energy companies to continually monitor power use by deploying smart meter devices at many locations across the grid.

Latin American countries are also responsible for the vast bulk of carbon emissions. As a result, governments around the area are concentrating on lowering emissions by focusing on renewable energy sources and enhancing network efficiency by adopting smart metering systems and other technology.

The recent COVID-19 epidemic and statewide shutdown hampered the general adoption of smart meters in South Central America. The global COVID-19 epidemic resulted in lockdowns in many regions of the area, halting multiple activities across industries. As a result, smart meter exports and installs fell.

The report explores the existing market demand in Latin America and its prospects. The research provides a deep analysis of the significant aspects influencing the growth of Latin America’s Smart Electric Meter Market.

The report also addresses present and future market opportunities, market trends, developments, and impact of covid-19 on the Smart Meter Market, critical commercial developments, regions, and segments poised for the fastest growth, competitive landscape, and impact of Covid-19 on the Smart Meters Market in Latin America. Further, the smart meters market size, demand forecast, and growth rates will also be provided in the report.

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