Global Smart Gas Metering Systems Market share to hit 190 million units by 2024: Global Market Insights Inc.
The report “Smart Gas Metering Systems Market Size, By Application (Residential, Commercial, Utility), By Technology (AMR, AMI), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, Italy, France, UK, Sweden, Portugal, China, Japan, South Korea, India, Australia, UAE, Saudi Arabia, South Africa, Lebanon, Egypt, Mexico, Brazil, Uruguay, Argentina) Competitive Market Share & Forecast, 2017 – 2024” says that global smart gas metering systems market share to hit USD 11 billion by 2024; according to a new research report by Global Market Insights, Inc. Rising demand for billing accuracy coupled with effective mapping of customer consumption pattern will boost the global smart gas metering systems market growth. Scarcity of available resources will exert additional pressure on the conservation measures adopted to control energy wastage. Smart gas metering systems market size from Automated Metering Infrastructure (AMI) technology is set to exceed 30 million units by 2024. Adoption of AMI systems are low subject to high installation costs associated. Automatic Meter Reading (AMR) systems will see strong gains owing to widespread adoption of the technology for the past two decades. However, data security concerns related to consumption tracking coupled with customer unwillingness are significant challenges to growth.
U.S. smart gas metering systems market size is projected to witness robust growth owing to strict regulations mandated by American Recovery and Reinvestment Act (ARRA) towards accurate billing coupled with rising adoption of meters. In 2009, ARRA in association with the Department of Energy (DOE) invested more than USD 30 billion to encourage a wide range of clean energy projects across the nation including smart grid enhancement to reduce energy costs. Japan is a mature market as it was among the first nations in the world to adopt these systems. Tokyo Gas, one of largest gas providers in the country, has nearly 2 million subscribers and has been providing these products since 1998. Strict regulations towards smart system deployment to accurately track gas consumption will stimulate demand. EU Directive 2009/73/EC mandates member states to educate consumers on the difference between conventional metering systems and intelligent meters. The directive also requires regulators to protect customers from increased rates owing to time-of-use pricing data and ensuring billing accuracy.
1|Page