Global Smart Meters Market value to reach $19.98 Billion

Revenue generation from global smart meters market is expected to grow from $12.79 billion in 2017 to $19.98 billion by 2022

The growth can be attributed to the rising investments in smart grid projects and increasing upgradation of transmission & distribution infrastructure, government policies, and energy conservation. Asia-Pacific is estimated to be the fastest growing market for smart meters from 2017 to 2022. Factors such as government policies & mandates in developed economies and accurate billing & improved customer service are driving the global smart meters market. China is expected to grow at the fastest pace during the forecast period. Furthermore, the growing power sector in India is expected to spur the growth of the market and represents a promising opportunity for major smart meters providers. With regards to the technology segment, Advanced Metering Infrastructure (AMI) are expected to constitute the fastest growing market from 2017 to 2022 because of its advanced technology. Moreover, AMI reduces labour cost, and several power, water, & gas utilities worldwide are replacing Automatic Meter Reading (AMR) with AMI infrastructure, further creating growth opportunities for the AMI market.

 

Source : https://bit.ly/2ZL80bt


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