Global Smart Gas Meter market size 2024, Forecast To 2033

The smart gas meter market has witnessed substantial growth, increasing from $4.14 billion in 2023 to $4.47 billion in 2024, indicating a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period is attributed to regulatory mandates, a heightened focus on energy efficiency, the impact of growing urbanization, the necessity to address aging infrastructure, and the integration of data analytics. Moving into the next few years, the market is anticipated to experience strong growth, reaching $6.1 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. Drivers of growth in the forecast period include the integration of IoT and connectivity, the emphasis on data-driven decision-making, the increasing level of consumer awareness, the demand for gas leak detection systems, and the growing interest in smart grid technologies. Major trends in the forecast period encompass the utilization of mobile apps for customer engagement, the deployment of energy management platforms, the implementation of digital twins, the exploration of blockchain for billing processes, and the monitoring of green gas emissions.