Increasing global energy demand, replacement of aging infrastructure, and growing demand for customer-centric approach is expected to drive the growth of the smart gas market —
The Smart Gas Market size is expected to grow from USD 11.25 billion in 2017 to USD 21.75 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 14.1% during the period of 2017–2022. The major drivers for upsurge in demand for the smart gas market include the growing demand for customer-centric approach and increasing global energy demand leading to adoption of sophisticated technologies and integrated wireless communication features in smart gas solutions reducing field visits. The limiting factors hindering the growth of the smart gas market include the lack of strong business case for the deployment of smart gas meters limiting the investment and the high Capital Expenditure (CAPEX) on the smart gas infrastructure.
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Analytics and data management solution is estimated to have the largest market share during the forecast period
Meter data analytics solution unlocks smart meter data from both Automatic Meter Reading (AMR) and Advanced Metering Infrastructure (AMI) sources, turning them into actionable information for gas utilities. It enables the company staff to track performance and analyse trends using the information from the core gas utility applications. It helps improve customer service quality and cut costs by using Interactive Voice Response (IVR) systems, steering customers to self-service websites and varying billing cycles, so that call volumes are relatively levelled throughout the month. It also reduces gas loss, resulting from pipe leaks and breaks by analysing sensor data in near real-time to detect unusual flow rates and automatically notify dispatchers &field technicians about likely emergencies.
Asia-Pacific (APAC) is expected to grow at the fastest rate in the market during the forecast period
As per the geographic analysis, the APAC region would witness the fastest growth in the smart gas market over the forecast period, due to the increasing adoption of smart grid architecture, technology upgrades, energy management, regulatory mandates, and affluent countries, such as China, Australia, South Korea, Japan, Singapore, &Hong Kong, which are the major contributing factors for the growth of smart gas solutions in this region. The increasing smart meter rollouts for residential customers in countries, such as China, Japan, Australia, and South Korea have bolstered the growth of smart gas metering in the region. In countries, such as Philippines, Indonesia, Thailand, and India, the political push &privatization are the major drivers for the growth of Internet of Things (IoT) adoption. Ambitious rollout plans in India have stagnated due to a number of factors, including legislative obstacles &bottlenecks, economic downturns, lack of customer engagement, and network infrastructure-related issues.
In the process of determining and verifying the market size for several segments & sub segments gathered through secondary research, extensive primary interviews were conducted with key industry personnel.
The break-up profiles of primary discussion participants are given below:
• By Company Type: Tier-1 (44%), Tier-2 (37%), and Tier-3 (19%)
• By Designation: C-Level (65%) and Manager Level (35%)
• By Region: North America (33%), Europe (44%), APAC (18%), and the Rest of World (RoW) (5%)
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The various key smart gas market vendors profiled in the report are as follows:
• ABB Group (Zurich, Switzerland)
• Aclara Technologies LLC (Hazelwood, Missouri)
• Badger Meter, Inc. (Wisconsin, U.S.)
• Cap Gemini S.A. (Paris, France)
• CGI Group Inc. (Montreal, Canada)
• Diehl Stiftung & Co KG (Nuremberg, Germany)
• Elster Group GmbH (New Jersey, U.S.)
• General Electric Company (Massachusetts, U.S.)
• IBM Corporation (New York, U.S.)
• Itron Inc. (Washington, U.S.)
• Landis+Gyr (Zug, Switzerland)
• Oracle Corporation (California, U.S.)
• Schneider Electric SE (Rueil-Malmaison, France)
• Sensus USA Inc. (North Carolina, U.S.)
• Silver Spring Networks, Inc. (California, U.S.)
• Verizon Communications, Inc. (New York, U.S.)
Research Coverage :
The global smart gas market has been segmented on the basis of types (solution, service, &device) and regions. A detailed analysis of the regions has been done to provide insights into the potential future business opportunities across different regions. In addition to this, the product portfolio analysis and business strategy analysis are the other MarketsandMarkets analysis included in the report.
Reasons to Buy the Report :
The report will help the market leaders/new entrants in this market in the following ways:
• This report segments the smart gas market comprehensively and provides the closest approximations of the revenue numbers for the overall market & sub segments across different regions.
• The report helps the stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, & opportunities.
• This report helps the stakeholders to better understand the competitors and gain more insights to better their positions in the business.
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