Smart Meters Market deals with distribution and installation of gas, electricity and water meters. The new smart meters ensure accurate billing and have two way communication. It directly sends the meter reading to the supplier by digital means.
Unlike traditional meter where manual reading and reporting was done, smart meter technology is far efficient and convenient to both consumer and vendor. Some of the smart meters come with monitors for consumers to track the energy usage up to a particular point they have selected. Along with usage it also shows the cost of the units consumed till date. The smart meter installation has considerably increased due to high demand of smart grid.
Scope & Regional Forecast of the Smart Meters Market
The Smart Meters Market can be divided by type, end-users and geography. There are various areas where smart metering systems have been installed; these type includes Electric meters for electricity readings, water meters and gas meters. The smart meter industry has seen an increase in all these types of meters. The Smart Meters Market has its end-users in Residential, commercial and Industrial sectors.
The smart meter technology helps you to save your money as well as conserve the energy. Traditionally, the bills were just an estimate of manual readings by human, thus they were not completely accurate but with these new smart meters you can get accurate bill only for the amount of energy you have used.
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The global smart meter market is expected to reach at great heights due to Government initiatives of spreading the awareness and encouraging more smart meter installation. The Smart Meters Market is greatly dominated by North America, as a high number of smart metering systems have been adopted here. Other regions such as Europe and Asia-Pacific have also seen a growth in smart meter industry.
Segmentations & Key Players Involved in the Smart Meters Market
According to IndustryARC findings, the Smart Meters Market can be divided into various segmentations on the basis of –
Type: Electric Meter, Water Meter and Gas Meter
End Users: Residential, Commercial and Industrial
Geography: North America, Europe, Asia-Pacific and Rest of the World
Some of the key players involved in the Smart Meters Market according to IndustryARC are as follows:
- Jenco Instruments, Inc.
- Upsco, Inc.
- Badger Meter
- Circuator SA
- Fenghua sanlian water meter co., Ltd
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