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ALBANY, N.Y. , June 23, 2022 /PRNewswire/ -- Recent smart gas meter market trends point toward a growing prospect for automation in gas metering solutions for utility companies and their customers. Gas meter manufacturers have increasingly leveraged automation technologies to minimize gas wastage while improving flow and accuracy in measurement. The global market is projected to advance at CAGR of 6.5% during the forecast period of 2022–2031, reaching valuation of US$ 6.17 Bn by 2031.
IoT-enabled solutions and adding other low-power networking capabilities have played a crucial role in enriching the smart gas meter market size. Numerous gas meter manufacturers are geared toward expanding IoT ecosystem in a bid to reinforce Industry 4.0 operations in the energy sector.
Top gas meter manufacturers have reaped significant business opportunities from the deployment of smart gas meters in commercial and residential users. A case in point is the deployment of gas metering solutions for measuring the volume of used natural and liquefied gas with high accuracy and cost-effectively. Advancements in sensors have played a key role in boosting the performance characteristics of meter measurement system of newer products in the gas meters market.
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Key Findings of Gas Meters Market Study
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Gas Meters Market: Key Drivers
Gas Meters Market: Regional Growth Dynamics
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Gas Meters Market: Key Players
The study on the gas meters market found that the competitive landscape defined by a partial fragmentation. Numerous gas consumption meter manufacturers & suppliers are keen on adopting cutting-edge sensor and IoT technologies for the next-gen products.
Key players in the gas meters market include Endress+Hauser, Emerson Electric Co., Honeywell International Inc., Landis+Gyr Corporation, Badger Meter, Inc., Apator SA., Genesis Gas Solutions(P) Ltd., Fluenta, EDMI Ltd., ABB, and Itron Inc.
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