Smart Gas Market Revenues to Expand at a CAGR of 14.1% by 2022

[143 Pages Report] Smart gas market size, analysis, trends, & forecasts. The global market for smart gas categorized by device, solution, service & region.

Smart Gas Market

Northbrook, IL 60062, USA, 2019-Dec-13 —

The Smart Gas Market is expected to grow from $11.25 Billion in 2017 to $21.75 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 14.1% during the period of 2017–2022, as per a report by MarketsandMarkets. The major drivers for upsurge in demand for the smart gas market include increasing global energy demand leading to the adoption of sophisticated technologies and replacement of aging infrastructure driving the investment in the smart gas market.

Key Market Players for Smart Gas Market

The market players, such as ABB Group (Switzerland), Aclara Technologies LLC (U.S.), Badger Meter, Inc. (U.S.), Cap Gemini S.A. (France), CGI Group Inc. (Canada), Diehl Stiftung & Co. KG (Germany), Elster Group SE (Germany), General Electric Company (U.S.), International Business Machines Corporation (U.S.), Itron, Inc. (U.S.), Landis+Gyr Inc. (Switzerland), Oracle Corporation (U.S.), Schneider Electric SE (France), Sensus USA Inc. (U.S.), Silver Spring Networks, Inc. (U.S.), and Verizon Communications, Inc. (U.S.) offer smart gas solutions, devices, & services to cater to the needs and demands of the market.

These players have adopted various growth strategies, such as expansions, mergers & acquisitions, partnerships, and new product launches. Partnerships and new product launches have been the major strategical trends, accounting for more than half of the market share of all the growth strategies adopted by the major market players.

Schneider Electric SE has adopted a strategic mix of organic and inorganic growth strategies, such as new product developments, partnerships, mergers & acquisitions, and business expansions.

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The remote monitoring solution is expected to grow at the fastest rate in the smart gas market during the forecast period

The remote monitoring solution for gas utilities deals with remotely controlling the essential types: hardware & software, such as Programmable Logic Controller (PLC), Human Machine Interface (HMI), & Supervisory Control and Data Acquisition (SCADA) systems. The solution has the ability to track asset performance, which provides real-time data during gas operations. Factors, such as production time, leakage rate, energy usage, and climatic conditions can all be collected, analyzed, & presented to the responsible personnel, in terms of performance data and ability to control data, such as remotely shutting off gas operations.

Automatic Meter Reading (AMR) meter is estimated to have the largest market share during the forecast period

AMR meters are capable of capturing, storing, and transmitting meter data to the main server. Backed by the remote monitoring feature of AMR meters, the functionalities of AMR meters have expanded from billing to events alarms, such as tamper, leak detection, flow monitoring, demand forecasting, demand response management, low battery notification, and remote shutdown.

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