Smart Metering Systems Market to cross $21bn by 2024

​The technology research report “Smart Metering Systems Market Size By Application (Residential, Commercial, Utility), By Product (Smart Water Meter Systems, Smart Electric Meter Systems, Smart Gas Meter Systems), By Technology (AMR, AMI), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, Italy, France, UK, Sweden, Italy, Portugal, Russia, China, Japan, South Korea, India, Australia, UAE, Saudi Arabia, South Africa, Lebanon, Egypt, Mexico, Brazil, Uruguay, Argentina), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024” by Global Market Insights, Inc. says Smart Metering Systems Market to surpass USD 21 Billion by 2024; driven by rising demand for renewable energy and effective transmission facilities.

Implementation of fiscal incentives along with the government plans to replace the existing meters will drive the smart metering systems market size. Several countries have enforced regulatory directives to accelerate the deployment of AMI meters as a part of their energy conservation initiatives. In 2016, the U.S. city of Berea in Ohio partnered with metering firm NECO and Badger Meter, a metering solutions company for the rollout of smart water meters project.

The U.S. smart metering systems market is predicted to exceed USD 3 Billion by 2024. Stringent regulatory framework to achieve energy savings along with ongoing measures to replace the conventional meters will augment the industry landscape. For instance, the California Public Utilities Commission (CPUC) has sanctioned the investor-owned utilities to replace conventional meters with intelligent meters to ensure customer control over the energy usage. The Southern California Edison has been authorized by CPUC for the installation of approximately 5.3 million smart meters.

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AMI smart metering systems market is predicted to grow over 10% by 2024. Increasing adoption of automated technologies across energy utilities to ensure energy conservation, customer service improvement and load management will boost the product demand. AMI meters dynamically involve the end users to execute the consumption decisions and provide real time information regarding the energy usage.

UK smart metering systems market will witness growth on account of rapid technological advancement along with growing adoption of sustainable systems. Introduction of automated data management systems across the metering industry will further fuel the industry growth. The introduction of intelligent metering system forms a fundamental part of the recent government policies aiming at the environmental sustainability and energy conservation.

Australia smart metering systems market is set to expand over 16% by 2024. Introduction of government policies along with growing measures toward energy conservation will fuel the business growth. In December 2017, the government of Australia introduced Power of Choice reform which seeks to provide AMI meters to all electricity consumers across the region.

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Increasing number of utilities along with the integration of advanced ICT solutions for operations will stimulate the smart metering systems market growth. The rising demand for effective measurement, monitoring, and utilization of natural resources will further facilitate the large-scale deployment of these meters.

Key industry participants in the smart metering systems market include Apator, Circutor, Iskraemco, Kamstrup, Aclara, Sensus, Neptune, Osaki, Badger Meter, Honeywell International, Schneider, Itron, Siemens, and Landis+Gyr.

Smart metering systems market research report includes in-depth coverage of the industry with estimates & forecast in terms of Units and USD from 2013 to 2024, for the following segments:

By Application

  • Residential
  • Commercial
  • Utility

By Technology

  • AMI
  • AMR

By Product

  • Smart water meter
  • Smart gas meter
  • Smart electric meter

The above information is provided on country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Sweden
    • Portugal
  • Asia Pacific
    • Japan
    • China
    • South Korea
    • India
    • Australia
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Egypt
    • South Africa
    • Lebanon
  • Latin America
    • Mexico
    • Brazil
    • Uruguay
    • Argentina

Browse key industry insights spread across 305 pages with 460 market data tables & 14 figures & charts from the report, Smart Metering Systems Market in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/smart-metering-systems-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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