Smart Gas Global Market Is Expected To Grow At A Rate Of More Than 15% Through 2023 – 2027
29 Jun, 2023
The global smart gas market size is expected to grow from $21.30 billion in 2022 to $24.47 billion in 2023 at a compound annual growth rate (CAGR) of 14.87%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global smart gas market size is expected to reach $43.29 billion in 2027 at a CAGR of 15.32%.
Global Smart Gas Market Key Driver
The rising use of natural gas is projected to take the smart gas industry forward in the coming years. Natural gas is a mixture of hydrocarbon-rich gases that is used to heat buildings and water, power refrigeration and cooling equipment, cook, dry clothing and provide outdoor lighting in the residential and commercial sectors. Smart gas is used in natural gas infrastructure to gain valuable data and analytical insights by improving decision-making processes, and it aids in harmful gas detection, oxygen level measurement, fire hazard prevention, pipe corrosion protection, and risk management to improve the natural gas distribution network.
Get a sample of the global smart gas market reportGlobal Smart Gas Market Segments
The global smart gas market is segmented:
1) By Device: Automatic Meter Reading (AMR), Advanced Meter Infrastructure (AMI)
2) By Solution: Supervisory Control And Data Acquisition (SCADA), Geographical Information System (GIS), Enterprise Asset Management, Mobile Workforce Management (MWM), Meter Data Analytics, Gas Leak Detection, Meter Data Management (MDM)
3) By Service: System Integration, Program Management, Installation
4) By End-User: Commercial And Industrial, Residential
5) By Geography: The regions covered in the smart gas market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global smart gas market.
Major Smart Gas Industry Players
General Electric Company, Itron Inc, Schneider Electric SE, ABB Group, Landis+Gyr Inc, Orcale Corporation, Diehl Stiftung and Co.KG, Elster Group SE, Cap Gemini S.A, Sensus USA Inc, Verizon Communications Inc, Aclara Technologies LLC, Badger Meter Inc, Silver Spring Networks Inc, International Machines Business Corporation, Xylem Brand, CGI Group Inc
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Smart Gas Market Overview
A smart gas refers to a distribution gas network that uses innovative digital solutions to integrate renewable gas sources and hydrogen in cost-effectively to accomplish total decarbonization and develop links with other energy carriers and industries.
Smart Gas Global Market Report 2023 provides data on the global smart gas market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The smart gas market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.