The global smart gas market generated $12.66 billion in 2018, and is estimated to reach $41.65 billion by 2026, registering a CAGR of 16.2% from 2019 to 2026. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
Major industry players - General Electric, Diehl Stiftung & Co. KG, Landis+Gyr, Itron Inc., Verizon, Schneider Electric, Sensus, a Xylem brand, Oracle, Capgemini, and ABB.
The surge in government investment to develop a smart grid and smart gas pipeline networks and the rise in urbanization across the developing economies such as China and India drive the growth of the global smart gas market. However, a lack of awareness among consumers regarding smart gas systems restrains the market growth. Furthermore, government initiatives to promote smart energy management is expected to provide new growth opportunities for the market player in near future.
The report offers a detailed segmentation of the global smart gas market based on component, device type, end-user, and region.
Based on region, North America contributed the highest share, accounting for nearly half of the total market share in 2018, and will maintain its dominance throughout the forecast period. However, Asia-pacific is expected to grow at the highest CAGR of 21.1% from 2019 to 2026.
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Based on device type, the automatic meter reading (AMR) segment accounted for the largest share in 2018, holding more than four-fifths of the total share, and is expected to maintain the largest share throughout the forecast period. However, the advanced meter infrastructure (AMI) segment is expected to register the highest CAGR of 19.3% from 2019 to 2026.
Based on component, the solution segment contributed to the largest share in 2018, accounting for nearly two-thirds of the total share, and is estimated to maintain its dominant position during the forecast period. However, the service segment is estimated to portray the highest CAGR of 18.7% during the forecast period.
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Lastly, this report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
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