Transparency Market Research has published a new market study, titled “Smart Gas Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2015 - 2023.” The report says that the global smart gas market will rise at a stupendous 32.2% CAGR from 2015 to 2023. Due to this, the market will reach a valuation of US$10.5 bn by the end of 2023, increasing from US$0.9 bn in 2014.In this report, factors that affect the shift of the smart gas market from its current hub of North America to Europe and further east to the Middle East and Asia Pacific during the 2015-2023 period are analyzed in detail.

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Smart gas meters are devices that enable two-way communication between energy providers, distributors, and energy consumers for updated information on gas consumption. Communication modules, flow control devices, data monitoring, gas warning devices, data logging and measurement, and software are the essential components that smart meters are made of.

Environmental mandates applicable at an international level for reducing carbon emissions are the major driver for the installation of smart gas meters worldwide. Other than this, the need to attain energy security across the residential, industrial, and commercial sectors is also significantly boosting the installation of these devices.

Smart gas meters are advantageous from a revenue consideration as well. Due to the availability of first-hand information about gas consumption, consumers can consume energy prudently, which helps in revenue generation in return.

End use, technology, and region are the criteria based on which the smart gas market is analyzed in this report. By technology, the meter data management segment was ahead of all other segments in 2014 with a share of almost 60% in the global market. On the basis of end use, global estimates reveal that residential consumers accounted for a share of almost 75% in the global market in 2014. The remaining 25% of the market was collectively held by commercial and industrial consumers. An increasing number of incentives and subsidies for the installation of smart meters in residential buildings is the reason for the large market share of the residential end-use segment.

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In 2014, North America was the leading regional market and accounted for a share of 64% in the global market. This was followed by Europe, wherein regulatory mandates for reducing carbon emissions are the major factor driving this regional market. In 2014, Asia Pacific stood as the third largest market for smart gas. Although the Middle East and Africa exhibited slow growth, environmental regulatory stipulations will boost the installation of smart gas meters in the region in the foreseeable future.

Currently, the smart gas market in South and Central America is exhibiting slow growth. However, initiatives taken by the government to prevent energy theft will benefit the smart gas market in the region. In this regard, the Brazilian government is rolling out smart gas meters to help achieve revenue gains.

The smart gas market has been segmented as follows:

Smart Gas Market: By Device Type (USD Million)

Traditional Metering System
Gas Warning Device
AMI Communication Module

Smart Gas Market: By Technology (USD Million)

Meter Data Management (MDM)
Supervisory Control and Data Acquisition (SCADA)
Geographic Information System (GIS)
Others

Smart Gas Market: By End-user (USD Million)

Residential
Commercial and Industrial

Smart Gas Market: By Region

North America

U.S.
Canada
Mexico
Rest of North America

Europe

France
Italy
U.K.
Rest of Europe

Asia Pacific

China
Japan
South Korea
Rest of Asia Pacific

Middle East and Africa

South Africa
Rest of Middle East and Africa

South and Central America

Brazil
Rest of South and Central America

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