The North American smart meters market is projected to grow at a CAGR of 5.6% during the forecast period (2020-2026). The market is mainly driven due to the significant adoption of the smart utility infrastructure in the US and Canada. Moreover, the government of Canada has enforced strict regulations and legislative mandates in order to preserve power and gas resources. Thus, the presence of these utilities in Canada is offering significant opportunities for market growth in Canada.
Browse the full report description North American Smart Meters Market Size, Share & Trends Analysis Report by Product Type (Smart Gas Meters, Smart Electric Meters, Smart Water Maters), By Technology (AMI and AMR), By Application (Residential, Commercial, and Industrial), and Forecast 2020-2026 at https://www.omrglobal.com/industry-reports/north-american-smart-meters-market
Further, the smart gas meter industry is growing owing to the rising ‘Smart City’ projects and funding for smart gas supply solutions. For instance, in 2019, Infrastructure Canada provided $50 million in funds to Montreal for encouraging smart city plan. Additionally, IoT can support the installation of smart utilities with better safety and improved productivity.
The installation of the smart meters overcome the requirement for the physical presence of the personnel to check the reading on the meter, the data from a smart meter is transmitted to the utility department, which can take action based on the energy being consumed by a user and act accordingly. This reduced dependency on labor and time can save certain costs, indirectly affecting the utility revenue. Therefore, the growing demand for smart meters to overcome the replacement cost of the traditional meter will drive the growth of the smart meters market in the region.
Market Coverage
|
Report Elements |
Details |
|
Study Period |
2019-2026 |
|
Base year |
2019 |
|
Forecast period |
2020-2026 |
|
Segments Covered |
By Product Type, by Technology, and by Application |
|
Regions Covered |
US and Canada |
|
Key Companies Profiled |
Aclara Technologies LLC, Eaton Corp., Honeywell
International, Inc., Landis+Gyr AG,
Schneider Electric SE,
Itron Inc., and
others |
Key questions addressed by the report
o Recovery Timeline
o Deviation from the pre-COVID-19 forecast
o Most affected region/segment
o Recommendations
North American Smart Meters Market – Segmentation
By Product Type
By Technology
By Application
North American Smart Meters Market – Segmentation by Region
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