The global smart gas meter revenue, including hardware and software, is expected to grow from $1.9 billion in 2018 to $3.1 billion in 2027, representing a compound annual growth rate (CAGR) of 5.8 percent.
Michael Hartnack, research analyst with Navigant Research, said: “Developed regions such as North America and Europe with nearly fully built-out gas and electric infrastructure are witnessing significant growth in retrofit gas metering projects, but lower growth in new meter installations and network expansion projects.”
Many of these installations have aligned closely with both electric advanced metering infrastructure (AMI) deployments and the increased adoption of advanced low power wide area (LPWA) networking technologies.
Unlike electric AMI deployments, the business case for smart gas meters is more difficult to make for many utilities, especially gas-only utilities. The lack of power at the meter and varying perspectives on the value of collected gas meter data are also among the challenges faced by gas utilities and smart gas metering solutions providers.