Smart gas metering system market is treading on a strong growth path, with gas meters evolving efficiently over the years to aid consumers in accurate billing and consumption pattern mapping. Presently, our civilization consumes over 17.7 Terawatts of power taken from all sources of energy such as natural gas, oil, coal, and alternative energies such as hydropower, solar, wind and other. 17.7 Terawatts is a huge quantity. Say, for a clear picture, 1 Terawatt can power 10 billion, 100 watt bulbs at once!
Poor and inaccurate resource tracking system are responsible for the loss of millions of dollars annually, from the government’s treasury. This has prompted the governments across the globe to undertake corrective measures for tracking energy consumption. In 2009, the European Union adopted the Open Public Extended Network (OPEN) metering plan to regulate gas usage and provide maximum transparency. Furthermore, in 2013, the EU Gas Directive aimed to install over 50 million gas meters in UK, Ireland, Italy, and the Netherlands by 2020. Such decrees are likely to foster smart gas metering system market growth over the years. As per a report by Global Market Insights, Inc., “Smart gas metering system market is set to surpass 190 million units over the period of 2017-2024.”
U.S. Smart Gas Metering Systems Market Share (Revenue), By Application, 2016
In-depth analysis of the smart gas metering system market based on technology, application, and regions is as mentioned below:
Notable industry participants accumulating significant smart gas metering system industry share include Schneider Electric, Landis+GYR, Iskraemeco, Siemens AG, Itron, Circutor, Osaki Electric, Icsa, and others.
Written By : Ojaswita Kutepatil