Dublin, March 29, 2021 (GLOBE NEWSWIRE) -- The "Smart Gas Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The smart gas meter market witnessed a shipment of approximately 15.77 million units of smart gas meters globally in 2020 and is estimated to reach to 21.83 million units by 2026, registering a CAGR of 5.8% for the forecast period (2021-2026).
Rising concerns about greenhouse gas emissions and the increasing need to reduce carbon footprint resulted in the increased use of natural gas, hence, driving the market. Also, Smart grids play a crucial role in smart city deployment and are the primary consumers of smart electricity meters, alike gas meters. Hence, the deployment of smart gas solutions is increasing significantly.
Additionally, the growing demand to reduce energy losses and the need to increase energy security are also considered as major drivers for the growth of the market. Due to the increased number of end-users, the effort of collating the data with no irregularities remains a challenge to this market.
The increase in the adoption of gas and numerous regulatory policies rolled out in many regions should be perceived as a growth opportunity for the market. In the recent past, Brazil has also rolled out smart gas meters to prevent energy theft providing a positive outlook to the vendors.
However, the high costs of installation associated with smart systems are expected to hinder the market growth. Smart systems are comparatively expensive than the regular equipment deployed by most of the service providers and users, as these systems utilize digital components and connectivity systems that enable them to operate and transmit data, hence, increasing the cost of the solutions like the metering equipment, sensors, and analyzers, etc.
Also, integration challenges involved with the deployment of smart gas solutions are restraining the adoption of these systems. These systems face difficulties in integration in the existing environments.
The Smart Gas Market is moderately competitive and consists of a few major players. In terms of market share, some of the major players currently dominate the market. However, with the advancement in analytics across the industry, new players are increasing their market presence thereby expanding their business footprint across the emerging economies.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Favorable Government Regulations
4.2.2 Need for Reduction Carbon Footprint and Energy Security
4.3 Market Restraints
4.3.1 Irregularities in Data Due to Increased Number of Users
4.3.2 High Capital Expenditure
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness - Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Devices
5.1.1 Automatic Meter Reading (AMR) Meters
5.1.2 Advanced Metering Infrastructure (AMI) Meters
5.1.3 Gas Meter Communication Modules
5.2 By Solutions
5.2.1 Supervisory Control and Data Acquisition (SCADA)
5.2.2 Geographical Information System (GIS)
5.2.3 Enterprise Asset Management (EAM)
5.2.4 Mobile Workforce Management (MWFM)
5.2.5 Meter Data Analytics
5.2.6 Gas Leak Detection
5.2.7 Meter Data Management (MDM)
5.3 By Services
5.3.1 System Integration
5.3.2 Program Management
5.4 By End-user
5.4.2 Commercial & Industrial
6 COMPETITIVE LANDSCAPE
Elster Group GmbH
General Electric Company
Schneider Electric SE
Aclara Technologies LLC
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TREND
For more information about this report visit https://www.researchandmarkets.com/r/2i4ycg
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager email@example.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900