Global Smart Gas Meter Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The smart gas meter market was valued at USD 1923.94 million in 2020, and it is expected to reach USD 2704.70 million by 2026, registering a CAGR of 5.92%, from 2021 through 2026. The large-scale adoption of smart gas meters enhances the distribution and smart grid operations by enabling communication between other smart meters. Furthermore, the adoption is further fueled by the UN climate target and related energy efficiency measures. Smart gas meters help reduce the fuel consumption of gas heating systems, indirectly affecting the growth of a fully automated grid. Such trends are expected to boost the adoption of smart gas meters worldwide.
Key HighlightsThe smart gas meters market is fragmented and consists of several major players. The smart gas meter market has turned mature in certain regions. This is leading companies to strive to maintain a competitive edge in the market. Companies are leveraging strategic collaborative initiatives to increase their market share and profitability. The companies are also acquiring start-ups working on smart gas meters market technologies to strengthen their product capabilities. Key players are Landis + GYR Group AG, Wasion Group Holdings, and others. Recent developments in the market are -
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