According to the research report titled ‘Global Smart Meter Market (2020 Edition) a?? Analysis By Type (Electric, Water, Gas), By End User, By Region, By Country: Market Insights, COVID-19 Impact, Competition and Forecast (2020-2025)’, available with Market Study Report, global smart meter market size accounted for USD 22652.5 million in 2019 and is likely to register significant growth through 2025.
 

Rising cognizance regarding energy conservation and reducing emission levels, increasing R&D activities pertaining to smart grid technologies, and rapid developments of next-gen meters are major factors driving the growth of global smart meter market.
 

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Rapid industrialization and growing demand for devices that allow for real-time monitoring as well as two way communication between consumers and utilities are also favoring the overall market scenario. Supportive regulatory outlook that promote the use of smart meters across industrial units as well as households is paving the way towards the market expansion.
 

As per type, the report states that smart gas meter segment is predicted to expand significantly during the estimated timeframe. Smart meters are already known to remotely detect any outage or theft of energy while reducing carbon emissions. Thus, rising development of large gas pipelines, increasing infrastructural development, and introduction of new government policies has augmented the demand for smart gas meters across the globe
 

Based on end-user analysis, global smart meter market share from residential units segment is anticipated to showcase substantial growth in the forthcoming years, primarily driven by favorable government regulations that support deployment of the product.
 

Considering the geographical landscape, Asia-Pacific presently holds the largest market share and is likely to witness consistent growth throughout the study period, followed by North America. Rising construction activities, supportive regulations, and increasing awareness regarding the benefits of smart meters are complementing the business dynamics in Asia-Pacific.
 

Landis+Gyr, Badger Meter Inc., Holley Technology Ltd., Xylem Inc., Honeywell international Inc., Siemens AG, Circulator, Schneider Electric, Roper Technologies Inc., and Itron are the major companies operating in global smart meter market.