The global smart gas market is poised for growth over the forecast period, which can be attributed to several government mandates and regulations as well as the need to efficiently manage resources. The market is driven primarily by the European market where governments and regulations have mandated the adoption of smart gas meters. The energy efficiency goal, which is a part of the initiative driven by the EU’s Energy Efficiency Directive, is further expected to fuel the smart gas market. The emergence of smart grid systems is also expected to drive market growth over the forecast period; however issues pertaining to the physical infrastructure, interoperability, data management infrastructure, consumer privacy & data protection may hinder market growth. Collaboration amongst stakeholders is expected to play a pivotal role in building a more secure, cost-effective, and resilient smart grid.
Rapid urbanization and the expansion of residential and commercial estates have led to increased consumption of gas as an energy source. Gas utilities faces several challenges in the distribution of natural gas; however smart gas technology solutions provide an efficient and reliable solution to the utility industry, and are expected to favourably impact the smart gas market growth over the forecast period. Additionally, the complexities involved in the supply and distribution of natural gas have made it difficult for the gas utilities to maintain profitability in the business, thereby making adoption of smart gas systems more significant. A few key industry participants include Oracle, Schneider Electric, Itron, Landis+Gyr Ag, ABB, Elster and General Electric.
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