Smart Metering Systems Market to cross $21bn by 2024 Smart Metering Systems Market

Smart Metering Systems Market to cross $21bn by 2024: Global Market Insights Inc. Smart Metering Systems Market to surpass USD 21 Billion by 2024; driven by rising demand for renewable energy and effective transmission facilities. Implementation of fiscal incentives along with the government plans to replace the existing meters will drive the smart metering systems market size. Several countries have enforced regulatory directives to accelerate the deployment of AMI meters as a part of their energy conservation initiatives. In 2016, the U.S. city of Berea in Ohio partnered with metering firm NECO and Badger Meter, a metering solutions company for the rollout of smart water meters project. The U.S. smart metering systems market is predicted to exceed USD 3 Billion by 2024. Stringent regulatory framework to achieve energy savings along with ongoing measures to replace the conventional meters will augment the industry landscape. For instance, the California Public Utilities Commission (CPUC) has sanctioned the investor-owned utilities to replace conventional meters with intelligent meters to ensure customer control over the energy usage. The Southern California Edison has been authorized by CPUC for the installation of approximately 5.3 million smart meters. Smart Metering Systems Market 1 | Page