Smart Metering System Market 2024| Global Growth Dynamics by Application, Technology and Product

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AMR Smart Metering System Market is anticipated to witness growth owing to its ability to transfer energy consumption data from users to utilities and lower cost index

Deployment of smart grid infrastructure worldwide is expected to trigger significant economic benefits for smart metering system market. Electric utilities have been actively reshaping the processes, organization models, and systems in a bid to realize the full potential of smart grid technologies. Amidst this backdrop, smart metering system industry, categorized as one of the lucrative business verticals of the sustainable ecosphere, ironically finds itself among the most debatable industry spheres. This can be possibly attributed to the fact that the deployment of smart meters is being questioned by regulatory bodies on grounds of the basic requirements and barriers to its implementation. The domination of the regulatory framework however, cannot be considered as a constraint to the growth of smart metering system industry. In fact, implementation of fiscal incentives along with supportive governmental plans have pushed the replacement of conventional meters.

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Smart Metering System Market is predicted to exceed USD 21 billion by 2024. Introduction of several government plans and incentives to promote the adoption of energy efficient system will drive the industry growth. Several countries have introduced regulatory directives to promote the installation of AMI meters as a part of energy conservation initiatives. In 2016, Berea (Ohio) partnered with Badger Meter and NECO, a metering firm for the development of smart water meters project.

AMI Smart Metering System Market is anticipated to witness gain over 10% by 2024. Growing adoption of automation systems across energy sector to ensure load management, customer service improvement and energy conservation will enhance the product penetration. The product enables the end users to provide real time information regarding the energy utilization and execute consumption decision.

Growing adoption of sustainable technologies along with technological advancement will fuel the UK Smart Metering System Market. Implementation of automated data management (ADM) systems across the digital electronic sector will further propel the industry landscape. Government policies toward the energy conservation and environmental sustainability will enhance the product penetration.

AMR Smart Metering System Market is anticipated to witness growth owing to its ability to transfer energy consumption data from users to utilities and lower cost index. Shorter installation time, immediate fault detection and remote access are some of the prominent features which will enhance the product penetration. Increasing spending toward renewable energy and smart grid network coupled with growing deployment of IT enabled systems will further drive the business landscape.

U.S. has evolved to be another pivotal region for smart metering system market progression. According to a report by U.S. Energy Information Administration, in 2016 U.S. electric utilities installed nearly 70.8 million AMI based smart meters. Reportedly, 88% of these AMI installations were deployed across residential sectors. The ongoing regulatory measures with regards to optimization of energy consumption have generated an appreciable demand for advanced meters.

Browse key industry insights spread across 305 pages with 460 market data tables & 14 figures & charts from the report, “Smart Metering System Market” in detail along with the table of contents @ https://www.gminsights.com/industry-analysis/smart-metering-systems-market

The CPUC (California Public Utilities Commission) has given an official sanction to investor-owned utilities for replacement of conventional meters with smart meters. In effect of this legislation, U.S.’s primary electricity supply channel, Southern California Edison, has received a green signal to install approximately 5.3 million smart meters in the country. Aided by the backdrop of such stringent regulatory regimes pertaining to energy conservation, U.S. smart metering system market is slated to be pegged at USD 3 billion by 2024.

Eminent players across the Smart Metering System Market include Iskraemco, Sensus, Badger Meter, Itron, Landis+Gyr, Apator, Kamstrup, Osaki, Schneider, Siemens, Circutor, Honeywell International, Neptune and Aclara.

Some Points From Table Of Content: -

Chapter 5 Smart Metering System Industry, By Product
5.1 Smart Metering System Industry share by application, 2017 & 2024
5.2 Smart electric meter systems
5.2.1 Global market from smart electric meter systems, 2013 - 2024
5.2.2 Global market from smart electric meter systems, by region, 2013 – 2024
5.3 Smart gas meter systems
5.3.1 Global market from smart gas meter systems, 2013 - 2024
5.3.2 Global market from smart gas meter systems, by region, 2013 – 2024
5.4 Smart water meter systems
5.4.1 Global market from smart water meter systems, 2013 - 2024
5.4.2 Global market from smart water meter systems, by region, 2013 – 2024

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/smart-metering-systems-market

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