The Global Smart Meters Market is expected to grow by registering a CAGR of 7.74% during the forecast period. In order to increase the effectiveness of electrical networks, smart grids are being introduced all over the world. As a result, smart grids, which include smart electricity meters, are being deployed globally. To combat the negative impacts of pollution on the environment, nations all over the world are enacting emission control rules. This is the main factor driving the market.
The Global Smart Meters Market is highly competitive and consists of several major players such as AEM, Apator SA, Arad Group, Badger Meter Inc., Elster Group GmbH, and Diehl Stiftung & Co. KG. The market is fragmented, owing to the presence of many small and large players. The major players with a prominent share in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging strategic innovations and collaborative initiatives to increase their market share and increase their profitability.
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