QYR Market Research Global Industrial Smart Meters market research | Page 6

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• The impact on the cost and availability of raw materials and certain
components is uncertain due to potential supply changes. The costs of raw
materials have a significant impact on the level of expenses. If the prices
of raw materials and related factors such as energy prices increase, and if
new companies cannot pass those price increases on to customers, their
results of operations and financial condition would suffer.
• With emerging economies growing faster, a strategy has been adopted by
most leading vendors in the Industrial Smart Meters market to approach
these areas. QYR analysis of the Industrial Smart Meters market
indicated that China would account for the highest sales in 2022 with close
to 76 percent of global sales coming from this region, and Asia has the
highest growth rate. Vendors recognize the importance of this region,
particularly in China, and are working towards penetrating this market by
strengthening their sales and distribution networks.
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