PUBLISHER: The Business Research Company | PRODUCT CODE: 1653400
PUBLISHER: The Business Research Company | PRODUCT CODE: 1653400
A smart gas meter is an electronic device designed to record information such as electric energy consumption, voltage levels, current, power factor, and gas usage. This information provides consumers with a clearer understanding of their gas consumption and usage. Smart gas meters are utilized for measuring energy consumption, calculating costs, and enabling automatic meter readings.
The main types of smart gas meters include smart ultrasonic gas meters and smart diaphragm gas meters. Smart ultrasonic gas meters are compact static gas meters that employ ultrasonic measurement techniques for measuring energy in residential areas where gas is used as an energy source. These meters consist of various components, including hardware and software, employing techniques such as automated meter reading (AMR) and advanced metering infrastructure (AMI). Smart gas meters find applications in residential, commercial, and industrial settings.
The smart gas meter market research report is one of a series of new reports from The Business Research Company that provides smart gas meter market statistics, including global market size, regional shares, competitors with a smart gas meter market share, detailed smart gas meter market segments, market trends and opportunities, and any further data you may need to thrive in the smart gas meter industry. This smart gas meter market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The smart gas meter market size has grown strongly in recent years. It will grow from $4.4 billion in 2024 to $4.71 billion in 2025 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to regulatory mandates, energy efficiency, growing urbanization, aging infrastructure, data analytics.
The smart gas meter market size is expected to see strong growth in the next few years. It will grow to $6.46 billion in 2029 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to iotit and connectivity, data-driven decision making, consumer awareness, gas leak detection, demand for smart grids. Major trends in the forecast period include mobile apps and customer engagement, energy management platforms, digital twins, blockchain for billing, green gas monitoring.
The anticipated growth of the smart gas meter market is expected to be driven by supportive government policies. These policies, implemented by various countries, are geared towards fostering the expansion of specific markets, including the smart gas meter sector. Governments often roll out initiatives supporting the adoption of smart gas meters, providing them to consumers at subsidized rates. As an illustration, in January 2023, the Indian government introduced the Smart Meter National Program (SMNP), aiming to replace 250 million conventional meters with smart meters. This exemplifies the role of government initiatives in fueling the demand for smart gas meters and propelling the market forward.
The surge in demand for smart homes is poised to be a significant driver for the growth of the smart gas meter market. Smart homes, characterized by the integration of various technologies and devices through the internet of things (IoT), are becoming increasingly popular. Smart gas meters contribute to energy efficiency, cost savings, and the creation of safer and environmentally conscious living spaces within these smart homes. For example, in August 2023, data from RubyHome, a US-based real estate company, indicated that 63.43 million homes in the US use smart home devices, and a significant proportion of homebuyers express willingness to invest in smart homes. This increasing demand for smart homes is a key factor propelling the growth of the smart gas meter market.
Major players in the smart gas meter market are making strategic investments to sustain and enhance their businesses. An illustration of this is seen in the plans of Italgas S.p.A., an Italy-based company manufacturing smart gas meters, which announced a substantial investment of €8.6 billion (US$8.8 billion). This investment is intended for creating intelligent gas networks, digitizing corporate procedures, and launching a Power-to-Gas pilot project for converting renewable energy into hydrogen. Additionally, the funding will facilitate the replacement of older-generation GPRS meters with advanced smart meters capable of accurately monitoring gas consumption and providing precise invoicing.
Innovative product development is a focus for major companies in the smart gas meter market, aiming to drive revenue growth. One such innovation is the introduction of ultrasonic prepayment gas meters. These specialized gas meters use ultrasonic technology to measure and monitor natural gas consumption in various settings. Itron Inc., a US-based company manufacturing smart gas meters, launched the Intelis gFlex ultrasonic prepayment gas meter in November 2022. This meter is integrated into a user-friendly software as a service (SaaS) solution, managed through multiple vending channels and credit transfer alternatives, and utilizes NFC technology for data communication, allowing it to function without a connectivity network.
In October 2024, Kaynes Technologies, an India-based manufacturer of electronics and communication products, acquired Iskraemeco India Pvt. Ltd. for an undisclosed amount. This acquisition is intended to enhance Iskraemeco India Pvt. Ltd.'s market presence, expand its product offerings, and leverage synergies to improve operational efficiency. Iskraemeco India Pvt. Ltd. specializes in the manufacturing of advanced metering technologies.
Major companies operating in the smart gas meter market include Cisco Systems Inc., ABB Ltd., Adappt Pte. Ltd., Avnet Inc., Eutech Cybernetic Pte. Ltd., Hitachi Vantara Corporation, Huawei Technologies Co. Ltd., ICONICS Inc., International Business Machines Corporation, Microsoft Corporation, ReelyActive Inc., Schneider Electric SE, Siemens Aktiengesellschaft, Smarten Spaces Pte. Ltd., SmartSpace Software plc, Spacewell International NV, Ubisense Group plc, Aclara Technologies LLC, Itron Inc., Apator SA, Arad Group Ltd., B METERS S.r.l., Badger Meter Inc., Diehl Metering GmbH, Diehl Stiftung & Co. KG, EDMI Limited, Elster Group GmbH, GWF MessSysteme AG, Holley Technology Ltd., Honeywell International Inc., Iskraemeco d.d., Kamstrup A/S, Landis+Gyr AG, Maddalena S.p.A., Master Meter Inc.
Europe was the largest region in the smart gas meter market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart gas meter market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the smart gas meter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The smart gas meter market consists of sales of smart ultrasonic gas meter, smart diaphragm gas meter, steel-case diaphragm gas meter and aluminium-case diaphragm gas meter. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Smart Gas Meter Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on smart gas meter market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for smart gas meter ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The smart gas meter market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.