Global Smart Gas Market is expected to rise from its initial estimated value of USD 14.22 billion in 2018 to an estimated value of USD 38.35 billion by 2026, registering a CAGR of 13.2% in the forecast period of 2019-2026. This rise in market value can be attributed to increasing levels of adoption of t of smart gas systems in the industrial sector.
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Few of the major competitors currently working in the smart gas market are
- ABB (Switzerland),
- Aclara Technologies LLC (U.S.),
- Badger Meter, Inc. (U.S.),
- Capgemini (France),
- CGI Inc. (Canada),
- Diehl Stiftung & Co. KG (Germany),
- Elster Group SE (Germany),
- General Electric Company (U.S.),
- International Business Machines Corporation (U.S.),
- Itron, Inc. (U.S.),
- Landis+Gyr (Switzerland),
- Oracle (U.S.),
- Schneider Electric (France),
- Sensus (U.S.),
- Silver SpringNetworks (U.S.),
- Verizon (U.S.),
- (Germany),
- IBM Corporation (US),
- Emerson Electric (US),
- Honeywell International Inc. (US),
- Yokogawa Electric Corporation (Japan),
- are few among others.
The smart gas devices are very helpful in monitoring solution for gas utilities deals remotely. These devices play a very important role in tracking asset performance which provides real-time data during gas operations. The smart meters help in capturing, storing, and transmitting meter data to the main server. The growing demand for the energy demand globally, rapid urbanization and technological advancements are driving the market for global smart gas.
Market Drivers:
- Increasing demand for mobile electronic devices that have the capabilities to control the various devices and have a modern display from the various events and conferences is also expected to drive the market growth
- Rapid urbanization and technological advancements are driving the market for global smart gas.
- There is increase in global energy demand that is expected to drive the market growth.
- There is increase in amount of economic and regulatory support that is also driving the market growth.
Market Restraints:
- There is lack of awareness and skilled workforce in gas market which is expected to act as a restraint to the market growth.
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Segmentation: Global Smart Gas Market
By Components
- Sensor
- Machine Vision Systems
- Robotics
- Control Device
- Communication Segment
- Other Components
By Technology
- Information Technology
- Human Machine Interface
- Enterprise Manufacturing Intelligence
- Plant Asset Management
- Manufacturing Execution System
- Warehouse Management System
- Industrial Communications
- Other Information Technologies
- Enabling Technology
- Ar And Vr In Manufacturing
- Collaborative Robots
- Industrial Machine Vision
- Machine Condition Monitoring
- Artificial Intelligence (AI) in Manufacturing
- Industrial 3d Printing
- Automated Guided Vehicle
- Digital Twin
- Industrial Cybersecurity
- Industrial Internet of Things (IoT)
By End User
- Discrete Industry
- Defense
- Medical Devices
- Automotive
- Semiconductors & Electronics
- Machine Manufacturing
- Aerospace
- Others Discrete Industries
- Process Industry
- Pulp & Paper
- Metals & Mining
- Pharmaceuticals
- Oil & Gas
- Energy & Power
- Chemicals
- Food & Beverages
- Other Process Industries
By Deployment Mode
- Cloud
- On-Premises
By Geography
- North America
- US
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Rest of South America
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Turkey
- Belgium
- Netherlands
- Rest of Europe
- Asia-Pacific
- Japan
- China
- South Korea
- India
- Australia
- Singapore
- Malaysia
- Indonesia
- Thailand
- Philippines
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Egypt
- Saudi Arabia
- United Arab Emirates
- Israel
- Rest of Middle East and Africa
Key Developments in the Market:
- In April 2019, Alon Gas Mulling Merged With Tamar Petroleum. With this merger tamar petroleum will expand its business in Israel.
- In Jan 2018, Itron, Inc. Acquired Silver Spring Networks. This acquisition enhanced tron’s capabilities and advanced its strategy of delivering highly-secure, value-generating solutions for utilities, smart cities and the broader industrial IoT sector.
Competitive Analysis
Global smart gas market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of smart gas market for Global, Europe, North America, Asia-Pacific and South America.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved
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