Smart Gas Meter Market Size By Application (Residential, Commercial, Utility), By Technology (AMR, AMI), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2028

Smart Gas Meter Market Size By Application (Residential, Commercial, Utility), By Technology (AMR, AMI), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2028

The global smart gas meter market to anticipated to experience exponential growth through 2028 owing to increasing consumption of natural gas. Additionally, surging demand for efficient resource management is slated to further support market growth over the forecast period.

Recently, companies operating in the smart gas meter market have been launching new technology as well as investing in product development for better energy conservation. As a result, growing emphasis on product development as well as advancements in technology have played a vital role in business growth in recent years.

For instance, in June 2021, Honeywell, a key company in the smart gas meter space, introduced its novel AC-250NXS smart gas meter. This range of meters is considered to be one of the most cost-effective gas meters for home convenient metering in the market and gives high-performance measurement at a low cost.

Notably, the AC-250NXS claims to be one of the lightest and smallest diaphragm gas meters available in the market in the United States, which makes it accurate, reliable, and easy to install in confined locations like meter trees in apartment buildings. For accurate measurements, the AC-250NXS also comes with built-in temperature conversions.

In another instance, in February 2022, EDMI, a global pioneer in smart metering systems, partnered with IoTerop, a pioneering IoT device management software firm, to deliver Lightweight Machine to Machine (LwM2M) as well as Narrowband IoT (NB-IoT) features in its new DN20 ultrasonic water meters. The DN20 meter has been designed to give near real-time data to allow users to track their usage of water as well as make an informed decision about their water consumption.

Moreover, the meters’ dual D batteries provide a battery life of 20+ years, and intensive in-house ALT (accelerated life testing) was performed to assure a long field life. The STM32 chipset on the DN20 also supports real-time capabilities, high performance, low power or low voltage operation, and digital signal processing.

The smart gas meter market has been bifurcated in terms of application, technology, and region. From the regional standpoint, the Middle East & Africa smart gas meter industry is likely to grow at a notable pace over the review timeline as a result of government measures to promote the integration of advanced metering units across the natural pipeline infrastructure in MEA.

Meanwhile, the Latin America smart gas meter market is expected to expand substantially through the forecast timeline owing to regulatory mandates for energy conservation, along with surging consumer awareness regarding effective consumption and accurate invoicing.