The smart gas technology utilizes the Internet of Things (IoT) to improve the safety and operations around several industries. In addition, the smart gas technology includes smart meters that encompass in-home displays, which enables the residential and commercial users to better comprehend their energy utilization and further supports in keeping track of their gas utilization. Not only has this, the smart gas technology for industries deliver the real-time status of cathodic fortification, pressure changes, and visualization of privileged of pipeline. Furthermore, the structures such as, accurate bills and remote meter reading further eradicates the inevitability for manual reading and detect meter issues enabling the cost savings on labor and truck rolls.
According to the report analysis, ‘Smart Gas Market by Component (Solutions and Services), Device Type (Automatic Meter Reading (AMR) and Advanced Meter Infrastructure (AMI)), and End User (Commercial & Industrial, and Residential): Global Opportunity Analysis and Industry Forecast, 2018-2026’ states that in the smart gas market there are several companies which presently working more actively across the globe for leading the fastest market growth and dominating the handsome value of market share around the globe while implementing the profitable strategies, analyzing and studying the favorable strategies of the government and competitive policies of the competitors, spreading the awareness related to the smart gas, decreasing the linked price, delivering the better consumer satisfaction, advancing the specifications of the technology, employing the young work force and increasing the applications includes ABB, Capgemini, Diehl Stiftung& Co. KG, General Electric, Itron Inc., Landis+Gyr, Oracle, Schneider Electric, Sensus, a Xylem brand, Verizon and several others.
In addition, an aspect such as augment in the requirement to develop the urban safety is the key factor propelling the market growth for the smart gas industry. In addition, growth in investment in smart gas pipeline and smart grid connection is also propelling the market growth. Not only has this, effective growth in the urbanization around the globe is also influencing the requirement for the smart gas solutions around the commercial and residential users. However, shortage of responsiveness of smart gas systems amongst people is projected to impede the market growth throughout the forecast period. Furthermore, augmenting the investment and initiatives for smart energy management by government is projected to provide foremost growth opportunities for the smart gas market in forthcoming years.
Despite observing the promising growth opportunities, the great initial investment demanded for installing smart gas meters restricts the market’s trajectory to an extent. Nevertheless, the increasing energy requirement in Asia Pacific is propels to boost opportunities for the market in the coming future. Throughout the forecast duration, the Asia Pacific is projected to emerge as one of the most energetic markets for smart gas meters. The commencement of several large-scale smart gas metering projects in regions such as China and Japan will propel requirement from the region. With utilities and governments across the Asia Pacific encouraging aggressive smart gas meter arrangements, the smart gas market in the economy is projected to expand at a robust pace. Therefore, in the near years, it is anticipated that the market of smart gas will increase around the globe more effectively over the upcoming duration.
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Ankur Gupta, Head Marketing & Communications