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The smart gas market size is forecast to increase by USD 18.48 billion, at a CAGR of 14.76% between 2023 and 2028.
Explore in-depth regional segment analysis with market size data - historical 2018-2022 and forecasts 2024-2028 - in the full report.
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The market continues to evolve, driven by advancements in technology and the growing demand for efficient and safe energy solutions. Real-time monitoring and gas supply optimization are becoming standard practices, enabling consumers and utilities to effectively manage their energy consumption and ensure uninterrupted supply. For instance, a leading utility company reported a 15% reduction in gas leaks through the implementation of advanced leakage detection software and remote meter reading. Smart gas infrastructure, comprised of smart gas meters, pressure regulation systems, and data security protocols, is revolutionizing the industry. Gas distribution networks and customer billing systems are being upgraded with energy efficiency monitoring, advanced metering infrastructure, and data visualization tools.
These innovations not only enhance the accuracy and reliability of gas supply but also enable consumers to better understand their energy usage patterns. Gas safety standards are increasingly being integrated into smart gas systems, ensuring the safety and security of both consumers and the environment. Gas quality monitoring, sensor technology, and predictive maintenance are essential components of this integrated approach. Smart grids and energy audit technology are also being adopted to optimize network infrastructure and improve grid stability. According to industry reports, the market is expected to grow by over 10% annually in the coming years, driven by the increasing adoption of smart gas infrastructure and the need for more efficient and sustainable energy solutions.
The integration of wireless communication, gas consumption analytics, smart gas regulation, and remote diagnostics is further fueling this growth.
The smart gas industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The automatic meter reading (AMR) segment is estimated to witness significant growth during the forecast period.
In the evolving market, Automated Meter Reading (AMR) systems play a pivotal role in optimizing gas supply and enhancing customer experience. These systems facilitate real-time monitoring of gas consumption and diagnostics, enabling gas utilities to promptly address any issues and ensure accurate billing. With advanced metering infrastructure, gas companies can analyze consumption patterns, identify energy inefficiencies, and optimize network infrastructure for improved grid stability. AMR systems incorporate data security protocols and sensor technology to ensure gas safety standards. Smart gas infrastructure, including pressure regulation systems and gas quality monitoring, further enhances safety and reliability. The integration of AMR with smart grids allows for predictive maintenance, network optimization, and gas flow measurement, resulting in a more efficient and responsive gas distribution network.
According to recent industry reports, the market is expected to grow by over 15% in the next five years, driven by the increasing adoption of advanced metering infrastructure and data visualization tools. For instance, a leading gas utility in the US reported a 20% reduction in customer calls regarding billing disputes after implementing an AMR system. This not only improved customer satisfaction but also streamlined operational processes for the utility. In summary, the market is witnessing significant growth as gas companies invest in smart infrastructure, data management, and advanced technologies to optimize gas supply, enhance safety, and provide valuable insights to their customers.
The Automatic meter reading (AMR) segment was valued at USD 8.47 billion in 2018 and showed a gradual increase during the forecast period.
Europe is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
In the dynamic US energy landscape, the market is experiencing significant growth. Real-time monitoring and optimization of gas supply and consumption patterns are essential for maintaining efficiency and safety. Gas safety standards are stringently enforced, ensuring the reliability and integrity of smart gas infrastructure. Advanced metering infrastructure, including smart gas meters, pressure regulation systems, and data security protocols, enable accurate and secure billing for customers. The integration of sensor technology and data visualization tools facilitates gas quality monitoring and network optimization. Predictive maintenance and network infrastructure improvements ensure grid stability and reduce leakages. In 2023, the US accounted for approximately 45% of global natural gas production, leading to a substantial decrease in prices.
This price drop has encouraged power utilities and end-users to transition to natural gas as a primary energy source, driving the market's expansion by over 10%. Energy audit technology, automated meter reading, wireless communication, and remote diagnostics further enhance the efficiency and reliability of the smart gas system.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The smart gas market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the smart gas market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, smart gas market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
AEM SA - A leading player in the upstream oil and gas sector provides a comprehensive range of smart gas metering solutions.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Smart Gas Market insights. See full methodology.
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Market Scope |
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Report Coverage |
Details |
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Page number |
136 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 14.76% |
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Market growth 2024-2028 |
USD 18476.6 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
12.55 |
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Key countries |
US, Germany, UK, Japan, and China |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
We can help! Our analysts can customize this smart gas market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Device
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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