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      Smart Meters Market Size, Share, Report, Growth, Forecast 2022-27

      Amit by Amit
      November 18, 2022
      in Bussiness, News
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      Smart Meters Market report
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      The latest research study “Smart Meters Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, Finds that the global smart meters market size reached US$ 20.71 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 35.61 Billion by 2027 exhibiting a CAGR of 9.10% during 2022-2027.

      Covid-19 Impact:

      We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

      Request For Sample Report: https://www.imarcgroup.com/smart-meters-market/requestsample

      Industry Definition and Application:

      Smart meters represent electronic devices that accurately record and measure power consumption data. They usually consist of a power system, microcontroller, communications interface, etc. Smart meters automatically and wirelessly send actual energy usage to the supplier via power line communication, radiofrequency (RF) electromagnetic radiation, and cellular communication. In line with this, they precisely monitor village fluctuations, outage detection, gas, electricity, and water utilization, etc. Smart meters aid in reducing meter reading costs, removing inefficiencies in billing, preventing disconnection, minimizing emissions, etc. As compared to traditional meters, they are multifunctional, cost-effective, and interactive, assist in recording electricity use on a daily basis, enable two-way communication with the utility and the home or business, etc. Consequently, smart meters find extensive applications in various sectors, including residential, commercial, and industrial.

      Smart Meters Market Trends and Drivers: 

      The inflating need for energy is primarily driving the smart meters market. Additionally, the widespread adoption of these devices in smart cities for the detection of leakage in supply, detection of theft, continuous monitoring of gas, water flow, and electricity, etc., is further catalyzing the market growth. Besides this, the development of smart electricity meters for automatic meter reading and bill generation, owing to the growing consumer concerns towards power generation and distribution, is acting as another significant growth-inducing factor.

      Read Also:  Parsley Seeds Market Growth, Analysis, Size, Share, Price, Trends, Report, Forecast 2021-2026

      Moreover, the launch of several favorable policies by government bodies across countries to replace existing traditional electric meters is also positively influencing the global market.

      Apart from this, the introduction of the Internet of Things (IoT) and the escalating demand for advanced components and control systems to protect data, enhance security, maximize uptime during emergencies, etc., are anticipated to fuel the smart meters market over the forecasted period.

      Click here to view detailed information with table of content: https://www.imarcgroup.com/smart-meters-market

      Report Segmentation:

      The report has been segmented the market into following categories:

      Breakup by Product:

      • Smart Electricity Meter
      • Smart Water Meter
      • Smart Gas Meter

      Breakup by Technology:

      • AMI (Advanced Metering Infrastructure)
      • AMR (Automatic Meter Reading)

      Breakup by End Use:

      • Residential
      • Commercial
      • Industrial

      By Geography:

      • North America
        • United States
        • Canada
      • Asia-Pacific
        • China
        • Japan
        • India
        • South Korea
        • Australia
        • Indonesia
        • Others
      • Europe
        • Germany
        • France
        • United Kingdom
        • Italy
        • Spain
        • Russia
        • Others
      • Latin America
        • Brazil
        • Mexico
        • Others
      • Middle East and Africa

      List of Major Key Players:

      The major players in the market are Aichi Tokei Denki Co. Ltd., Apator SA, Arad Group, Badger Meter Inc., Diehl Stiftung & Co. KG, Holley Technology Ltd., Itron Inc., Landis+Gyr, Neptune Technology Group Inc. (Roper Technologies Inc.), Schneider Electric SE, Sensus USA Inc. (Xylem Inc.), Shenzhen Kaifa Technology Co. Ltd. and Zenner International GmbH & Co. KG.

      Key highlights of the report:

      • Market Performance (2016-2021)
      • Market Outlook (2022- 2027)
      • Porter’s Five Forces Analysis
      • Market Drivers and Success Factors
      • SWOT Analysis
      • Value Chain
      • Comprehensive Mapping of the Competitive Landscape
        If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
      Read Also:  Global Hemostats Market To Be Driven By Rising Trend Of Incidence Of Several Types Of Chronic Diseases And Surge In Surgical Procedures In Forecast Period Of 2021-2026

      About Us:

      IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

      IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

      Contact Us:
      IMARC Services Private Limited.
      30 N Gould St Ste R
      Sheridan, WY 82801 USA – Wyoming
      Email: Sales@imarcgroup.com
      Tel No:(D) +91 120 433 0800
      Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800

      Tags: Smart Meters MarketSmart Meters Market ForecastSmart Meters Market ReportSmart Meters Market ShareSmart Meters Market Size
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