Smart Meters Market was worth USD 21.79 billion in 2020 and is poised to accumulate a valuation of USD 54.34 billion by 2030, thereby amplifying at a CAGR of 10.10% over the forecast period of 2022-2030.
A smart metre is an electronic device that is primarily used to record critical data such as electric energy consumption, water consumption, power factor, current, gas consumption, and voltage levels. These metres have the capability of communicating critical data via cellular or power line transmission. As a result, the utility business is better able to manage its energy usage. Smart metres also provide other benefits, such as lower metre reading costs and the elimination of billions of inefficiencies.
Smart metres are defined by their ability to provide utilities with real-time or near-real-time digital data and to engage in two-way communications between power companies and consumers. Advanced features such as connection intensity, communications speed, the capacity to continuously monitor power quality, the option to dampen or disconnect service, and the ability to report power failures distinguish smart metres. Smart electricity metres are also just one part of an interactive system that incorporates smart metres, a communications network (wired or wireless), computer hardware, and metre data management software and systems, known as advanced metering infrastructure (AMI). Smart metres can communicate data that is gathered, controlled, and analysed by utilities, third-party aggregators, or other power service providers thanks to advanced metering infrastructure.
Smart metres are internet-connected metres that report on utility consumption such as water, electricity, and gas on a regular basis. This eliminates the need for someone to manually read the measured data from traditional metres. Cap Gemini has identified smart metering as a high-potential use case, implying that it offers significant benefits with a short payback period.
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Global Smart Meters Market: Segmentations
Major Key Players
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By Communication Type:
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Table of Contents
Key Benefits For Stakeholders
FREQUENTLY ASKED QUESTIONS?
Q1. At what CAGR, the Smart Meter Market will expand from 2021 – 2030?
Q2. What will be the market value of Smart Meter Market by the end of 2030?
Q3. How can I get sample report of Smart Meter Market?
Q4. Which are the factors that drives Smart Meter Market Growth?
Q5. Who are the leading players in Smart Meter Market?
Q6. How can I get company profiles of top ten players of Smart Meter Market?
Q7. What are the segments of Smart Meter Market?
Q8. What are the key growth strategies of Smart Meter Market Players?
Q9. By Region, which segment would grow at a highest CAGR during the forecast period?
Q10. By Product, which segment will dominate the market during 2021 – 2030?
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