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Key Emerging Trends in the Meter Data Management Market
The exponential growth in the smart gas meters market can be significantly attributed to the substantial upsurge in government initiatives, specifically the extensive rollout of smart gas meters both in residential households and controlled commercial applications. Recent times have witnessed an unprecedented increase in legislative mandates endorsed by several countries, emphasizing the adoption of smart meters as integral components of broader clean energy initiatives.
A prime example of this widespread adoption is evident in the European Union (EU), where approximately 200 million smart meters for electricity and 45 million for gas are slated for deployment by 2020. The associated investment in this endeavor is estimated at a staggering euro 45 billion. The EU ambitiously aims to equip nearly 72% of European consumers with smart electricity meters and approximately 40% with smart gas meters within the same timeframe. The magnitude of these initiatives underscores the significant financial and strategic commitments made by governments to promote the adoption of smart meters.
In the context of the United Kingdom, Smart Energy Outlook reports that by the end of March 2018, approximately 8.6 million smart meters had been successfully installed across Great Britain. This notable achievement has garnered considerable interest from multinational smart meter manufacturers, further stimulating competition and innovation within the market.
China presents another compelling example of government-driven mandates spurring the bulk deployment of smart meters. Rigorous government directives have propelled the comprehensive rollout of electric and gas meters in the country, a massive endeavor that reached completion in 2016. The concerted efforts and supportive initiatives undertaken by various governments worldwide serve as critical catalysts, propelling the exponential growth trajectory of the smart gas meters market.
The synchronized efforts and strategic directives from governments globally reflect a collective commitment towards advancing clean energy initiatives and achieving energy efficiency goals. These concerted efforts not only foster market growth but also contribute significantly to transforming the energy landscape by promoting sustainable practices and technological advancements in gas metering systems.
Covered Aspects:| Report Attribute/Metric | Details |
|---|---|
| Market Opportunities | Increasing use of smart meter data management within the electricity network |
| Market Dynamics | Urgent requirement for accurate energy bill generation Need for grid reliability and outage meter data management |
Meter Data Management Market Highlights:
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