Market Research Future published a research report on “Smart Meters Market Research Report – Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Smart meters have become an essential part of sectors like water, gas, and electricity supplies as traditional meters were vulnerable to tampering, which was causing losses to the suppliers. As the technology advanced and demands for the respective supplies increased, the smart meters acted as a boon for the companies while decreasing the faulty reading and eradication of tampering practices. Also, the older meters were sometimes inaccurate, which used to create problems for the customers due to heavy bills, which has further increased the usage and adoption of smart technologies.
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The power supply sometimes is unstable, which used to damage the traditional meters. In contrast, smart meters are programmed to work with maximum voltage ranges without receiving any damage, which has increased the installation of smart meters. On observing several problems and losses with traditional meters, the authorities are making it compulsory for all the sectors to install smart meters, which has largely positively affected the market and is helping the market gain greater success rates.
Apart from the uses and features, the global Smart Meters Market faces severe challenges from potential health issues from wireless technologies and the introduction of strict regulations, which are damaging the market growth at superior levels. This report comprises details about competitive landscapes, changes, drivers & restraints, and other prime aspects of local and global smart meters market analysis to better understand market trends. The market is anticipated to show around a 09 % annual growth rate during the survey.
Schneider Electric (France), Siemens AG. (Germany), Landis+Gyr (Switzerland), Xylem, Inc. (U.S.), Aclara Technologies LLC (U.S.), and Badger Meter, Inc. (U.S.). Honeywell International Inc. (U.S.), Itron Inc. (U.S.), EDMI (Singapore), Apator Group (Poland), DIEHL Metering (Germany), Zenner (Germany), and Kamstrup A/S (Denmark)
The report includes company profiles of leading market players along with their current market share. Company information with regards to revenue, segmental share, geographical income, SWOT, growth strategies, new product launch, M&A activities, and the latest R&D initiatives is also available in the report.
The global smart meters market is segmented into several categories mentioned below:
The global smart meters market is segmented into water, electricity, and gas meters based on types.
The global smart meters market is categorized into advanced metering infrastructure (AMI) and automatic meter reading (AMR) based on technology.
The global smart meters market is divided among commercial, industrial and residential sectors based on uses.
Smart meters have gained global adoption worldwide due to rising demands for energy and the adoption of the latest monitoring technologies. For the global smart meters market, the Asia Pacific, North America, Europe, and the rest of the world are the major regions observed. Currently, the North American region is leading the market due to demands for advanced technologies, key market players, rising awareness, government initiatives, increasing demands, and other factors. On the other hand, the Asia Pacific region is anticipated to register the highest growth rates due to the vast population, rising awareness, rapid urbanization, and increasing power demand and other factors.
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