European smart meters market is projected to grow at a CAGR of 5.8% during the forecast period. The major factor that propels the growth of the market includes the rising demand for smart utility solutions over conventional solutions in the region. The 2009 Gas Directive requires member states to carry out a cost-benefit analysis (CBA) for smart gas meters by September 2012.
However, in contrast to the Electricity Directive, which requires that 80% of consumers should have smart electricity meters by 2020, the Gas Directive does not specify how many consumers should have smart meters or provide a deadline for deployments following a positive CBA.
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Moreover, various companies and governments collaborate to provide smart water management solutions in the UK. For Instance, Sensus Communication Technology provides support to the UK government for its project.
The project is intended for the installation of smart meters in millions of homes and small businesses in 2020. These types of partnerships propel market growth in the country. As a result of the growing population, it is estimated that demand in the UK for water will exceed supply by 10% by 2025. Therefore, the growing demand for smart water solutions further increases the adoption of smart water meters in the region that further propels the smart meters market growth.
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Key questions addressed by the report
- What is the market growth rate during the forecast period?
- Which segment/region dominates the market in the base year?
- Which segment/region will project the fastest growth in the market during the forecast period?
- How COVID-19 will impact the market growth in 2020 and the coming years?
- Recovery Timeline
- Deviation from the pre-COVID-19 forecast
- Most affected region/segment
- Recommendations
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
European Smart Meters Market – Segmentation
By Product Type
- Smart Gas Meters
- Smart Electric Meters
- Smart Water Maters
By Technology
- Advanced Metering Infrastructure (AMI)
- Automated Meter Reading (AMR)
By Application
- Residential
- Commercial
- Industrial
This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.
