Skip to main content

Smart Meter Market - In-depth Analysis of the Industry with Future Estimations

Globalization has made the supply chains all over the world extremely interconnected. As a result, the lockdowns initiated in several countries for controlling the spread of the COVID-19 infection have massively disrupted the global supply chains. Moreover, the lack of availability of raw materials is severely hampering the progress of the appliance manufacturing and electric component sectors across the world.


These disruptions in the supply chain are affecting the manufacturing of the components used in smart meters such as sensors, displays, processors, and switches. China is one of the biggest suppliers of hardware components and raw materials, required for smart meters, but because of the pandemic and the supply chain disruptions, the country is not able to ship the necessary raw materials. 

This is causing a massive decline in the sales of smart meters throughout the world. Under the meter type segment of the smart meters market, the water meter category is predicted to exhibit the highest growth rate in the coming years. This is ascribed to the rising usage of water meters by consumers for keeping track of their water consumption and monitoring pressure, wastage, and leakage with the help of the integrated sensors and carrying out data analysis for optimizing the water usage. 

Furthermore, the growing public awareness about the reducing water sources and the necessity of accurate meter readings is massively pushing up the utilization of smart meters across the globe. Globally, the smart meters market would demonstrate the highest growth in the Asia-Pacific (APAC) region in the upcoming years, primarily because of the increasing enactment of favorable government regulations regarding the usage of smart meters in various regional countries. 

For example, in China, as part of the five-year countrywide plan to upgrade and modernize the grid infrastructure, the utilities organizations are installing numerous smart meters. Other countries in the APAC region have also realized the need to upgrade their grid infrastructure and make it in line with the international standards, which would, in turn, help them improve the revenue collection procedure of utilities and address the various energy challenges.
Labels:

Comments

Post a Comment

Popular posts from this blog

Revenue Explosion Predicted in Global Micro Battery Market During 2020—2024

The global micro battery market had a valuation of $418.2 million in 2018 and is predicted to generate a revenue of $1,100.0 million by 2024. Furthermore, the market will exhibit a CAGR of 18.4% between 2019 and 2024. The increasing usage of wearable devices, the rising integration of the internet of things (IoT) in medical devices, and the soaring usage of compact batteries in healthcare applications are the major factors fueling the progress of the market. The rising incorporation of the IoT in medical devices is an important factor propelling the growth of the micro battery market across the globe. With the soaring population levels and the rising prevalence of chronic diseases in various countries, the healthcare industry is rapidly adopting high-tech solutions. The growing usage of advanced medical devices and wearable electronics is causing huge improvements in patient care and treatment procedures. Moreover, it is massively reducing the healthcare costs.  For example, medic...
Post a Comment
Read more

Demand for Webgames Set to Shoot Up in Asia-Pacific in Coming Years

The global webgame market valuation will rise from $3.5 billion in 2019 to $6.5 billion by 2030. Furthermore, the market is predicted to demonstrate a CAGR of 5.7% between 2020 and 2030. Depending on genre, webgames are classified into sports games, real-time strategy games, massive multiplayer online roleplaying games (MMORPGs), arcade games, and first-person shooters. Get the Sample Copy of this Report @ https://www.psmarketresearch.com/market-analysis/webgame-market-insights/report-sample Out of these, the popularity of first-person shooters will grow sharply across the world in the forthcoming years, as per the estimates of P&S Intelligence, a market research company based in India. These types of games are not like the third-person shooters, in which, the gamers can see the character which they are controlling. As these games are highly engrossing and thrilling, their popularity is soaring rapidly all over the world. Globally, the webgame industry is predicted to exhibit the...
Post a Comment
Read more

3D Printing Ceramics Market Research by Products & Services, Components & Geography

The technology has created immense opportunities for product designing and helped in consolidating product assembly processes. Ceramics are mainly used for printing plates, cups, and other cutlery items. Ceramic prototypes are also used in high temperature application areas in the aerospace and automotive industries. Get a free sample copy of this report @  https://www.psmarketresearch.com/market-analysis/3d-printing-ceramics-market/report-sample Rapid growth in the 3D printing ceramics market is driven by rise in demand for 3D printing in the dental industry and product modification, and development in various end-use industries. 3D printing is gaining demand in the healthcare industry, especially for dental applications. Ceramics are being preferred for 3D printing of orthopedic and dental implants, and heart valves, due to their characteristics such as inertness, porosity, resistance to high wear, high compression strength, and capability to mold into a variety of shapes...
Post a Comment
Read more