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Global Smart Meter Market Report, Share, Size, Trends, and Forecast to 2028

Global Smart Meter Market, By Type (Electric, Gas, and Water); By Technology (AMI, AMR); By End User (Residential, Commercial, and Industrial), and By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa)-Global Forecast to 2030.

Frequently Asked Questions (FAQ):

A smart meter is an electronic device that keeps track of data like electric energy use, voltage levels, current, and power factor. Smart meters transmit data to consumers to better understand consumption patterns and power suppliers for system monitoring and customer invoicing.

The global Smart Meter market is estimated to reach USD 62 billion in 2030 with a growth rate of 8.57% during the forecast period, 2022-2030. It was valued at USD 28 billion in 2022.

As the automobile industry recognizes the benefits of this new technology, it is one of the key drivers of increased demand for servo presses. End-users have been forced to shift to servo presses by the evolution of high-strength steels and advanced materials and the necessity of producing parts that meet shape and tolerance requirements in the automotive and other industries, which are major factors driving the Smart Meter market.

High setup and operational costs of skilled professionals in the forecasted Years are predicted to create an obstacle to the growth of the global market over the forecasted period by 2030.

The Asia Pacific region is expected to dominate share in Smart Meter Market and continue this growth rate.

Schneider Electric, Landis+Gyr, Diehl, Itron, Wasion Group, Sensus (Xylem), Triton Process Automation Pvt. Ltd., Advance Metering Technology Ltd., Maven Systems Pvt. Ltd., Genus Power Infrastructures Ltd. ITI Ltd., Siemens Ltd., Other prominent players.

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