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Smart Metering Systems Market in Utility applications to hit 200 million units by 2024

More Information @ http://bit.ly/2mdpACp <br>Smart metering systems market size for 2015 from residential applications was valued over USD 5 billion. Consumers are increasingly aware of the billing process and are demanding accurate usage data from service providers.<br>

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Smart Metering Systems Market in Utility applications to hit 200 million units by 2024

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  1. Smart Metering Systems Market share worth $38bn by 2024: Global Market Insights Inc. Fuel Cell Market size worth $25.5bn by 2024

  2. KeyInsights from Smart Metering Systems Market : • Increasing need for accurate billing and consumption pattern mapping coupled with rising prices of resources including water, electricity and gas will drive the global smart metering systems market size by 2024. Scarcity of available resources has laid emphasis on reducing wastage and controlling emission levels. • Stringent regulations towards energy management coupled with measures towards effective resource utilization will propel demand. The Energy Independence Act (EISA) of 2007 mandates the modernization of the U.S. electric grids, installation of smart electric systems in every household and grants government funding for grid development projects. • Smart metering systems market size for 2015 from residential applications was over USD 5 billion and is set to witness strong growth owing to its reasonable pricing and increasing awareness among customers. Commercial applications in terms of volume are predicted to surpass 250 million units over the forecast timeframe due to rising prices of available energy resources.

  3. Continued... • Smart metering systems market share for 2015 from water is set to grow over 10% on account of stringent regulations for controlling Non-Revenue Water (NRW). Electric applications were valued over USD 4 billion in 2015 and is predicted to witness handsome growth owing to stringent government regulation to curb electricity theft. • AMI is set to exceed USD 19 billion by 2024. Adoption of AMI are low subject to its high acquisition and installation costs. AMR is predicted to grow over 13% over the forecast timeline owing to its wide adoption and mature technology.

  4. U.S. Smart Metering Systems Market size, By Product 2013-2024 (USD Million)

  5. Browse Full Market Research Report On Smart Metering Systems Market @ https://goo.gl/EECcOK Request for a Sample of this Research Report @ https://www.gminsights.com/request-sample/detail/1180

  6. 360° Analysis • Application Trends • Smart metering systems market size for 2015 from residential applications was valued over USD 5 billion. Consumers are increasingly aware of the billing process and are demanding accurate usage data from service providers. Commercial applications are set to exceed USD 14 billion by 2024, owing to increasing adoption among establishments to reduce cost. • Regional Trends • U.S. smart metering systems market size for 2015 was valued over USD 5 billion and is expected to witness significant growth owing to high adoption of smart systems. In 2015, the U.S. Energy Information Administration (EIA) stated to have installed more than 65 million electric meters. • Competitive Market Share • Global industry participants include Itron, Siemens AG, Landis+GYR, Schneider Electric, Circutor, Icsa, Iskraemeco, Holley Metering, Honeywell International, Osaki Electric, Badger Meter, Elster, Neptune Technology, SensusSentec.In 2015, Neptune Technology collaborated with Itron, Sensus and Elster to deliver compatibility with the industry’s leading e-coder. In 2016, EDMI, a subsidiary of Osaki Electric signed a contract with Great Britain to provide 500,000 smart meters to become one of the largest energy supplier.

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