Energy and Power Smart Meters Market

Smart Meters Market Analysis based on Enhancement in Technology and Forecast till 2022 The report "Smart Meters Market by Type (Electric, Water, and Gas), Application (Commercial, Residential, and Industrial), Technology (Automatic Meter Reading and Advanced Metering Infrastructure), and by Region - Global Forecasts to 2022", The smart meters market is expected to grow from an estimated USD 12.79 Billion in 2017 to USD 19.98 Billion by 2022, registering a CAGR of 9.34% from 2017 to 2022. The global market is witnessi ng a significant growth, which is driven by government policies, energy conservation, increasing smart grid deployment, and utilities urge to enhance distribution efficiency. Browse 62 market data tables and 66 figures spread through 137 pages and in-depth TOC on "Smart Meters Market by Type (Electric, Water, and Gas), Application (Commercial, Residential, and Industrial), Technology (Automatic Meter Reading and Advanced Metering Infrastructure), and by Region - Global Forecasts to 2022" https://www.marketsandmarkets.com/Market-Reports/smart-meter-366.html Early buyers will receive 10% customization on reports. Residential – the largest smart meters market by application The smart meters market in this report has been classified based on application, into three segments, namely, residential, commercial, and industrial. The residential segment accounted for the largest market size, in terms of value, in 2016. The meters measure the electricity, water, and gas consumption and communicate this to the central utility system. The installations of these devices in the residential sector helps in reducing CO2 emissions globally as the consumer’s inclination towards peak time savings of energy would increase. The increasing residential construction activities and government mandates such as the European Union 20 -20-20 policy, which aims to convert 80% of the installed meter base to smart one, have ensured the growth in the demand for smart meters. “The AMR technology segment would dominate the global smart meters market” The Automatic Meter Reading (AMR) segment was estimated to be the largest market for smart meters in 2016. AMR is a metering technology that collects consumption dat a from the meters and transfers it to a central database (in the utility station) for billing and other purposes (one - way communication only). It is the initially developed smart metering technology and, hence, it