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The report defines, describes, and forecasts the global smart meter market, by type, component, technology, communication, end user, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges.
It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the smart meter market. The global smart meter market is estimated to grow from USD 26.
36 Billion in 2024 to USD 46.14 Billion by 2030; it is expected to record a CAGR of 9.8% during the forecast period.
Governments worldwide are undertaking several initiatives to meet future electricity demands and are focusing on reducing carbon footprint by promoting the use of renewable energy sources to produce energy. Smart meters will play a crucial role in achieving these initiatives. Software: The fastest segment of the smart meter market, by component Based on components, the smart meter market has been split into hardware and software.
The customer information system (CIS), meter data management system (MDMS), and metering and billing software are critical software components of smart meters. The software helps manage the operations of smart meters once deployed by the utilities. Smart meter software aids in the detection of abnormal utility consumption patterns and the accurate billing of consumers.
AMI segment is expected to emerge as the largest segment based on technology By technology, the smart meter market has been segmented into AMI & AMR. AMI enables the meters to collect and transmit data on utility and energy use in real-time. The foundation of smart grid projects is smart meters employing AMI technology, and rising investment in such projects serves as a major growth driver for the market for AMI smart meters.
Europe is expected to be the second largest market during the forecast period. Europe is expected to be the second-largest market in the global smart meters in 2024 and is among the pioneers in adopting smart meters technology. Major western European countries such as France, Germany, Italy, Spain, and the UK are growing markets for smart meters.
The European Union has already started the modernization and transformation toward a climate-neutral economy and plans to become the world's first major economy to go climate neutral by 2050. Competitive Landscape Landis+Gyr (Switzerland), Itron Inc. (US), Sagemcom (France), Osaki Electric Co.
(EDMI) (Singapore), Siemens (Germany) are some of the key players in the smart meter market. The study includes an in-depth competitive analysis of these key, with their company profiles, recent developments, and key market strategies. Key Benefits of Buying the Report Key Attributes: Key Topics Covered: Premium Insights Market Dynamics Drivers Restraints Opportunities Challenges Case Study Analysis Company Profiles For more information about this report visit About is the world's leading source for international market research reports and market data.
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