Smart Gas Meter Revenue Will Surpass $1.5 Billion Annually by 2020, Forecasts Navigant Research
BOULDER, Colo.--(BUSINESS WIRE)-- As in the electricity meter market, gas meters for residential and commercial locations are shifting to advanced metering infrastructure (AMI) technology, which enables remote, automated interval meter reads as well as offering command and control features, increased accuracy, and the potential for enhanced energy use management. According to a recent report from Navigant Research, annual revenue from smart gas meters will grow from $258 million in 2013 to more than $1.5 billion in 2020.
"The transition to the latest gas modules connected to AMI networks is just getting started," says Neil Strother, senior research analyst with Navigant Research. "Meters with one-way communications capabilities are now giving way to two-way devices that will open up a host of new benefits and efficiencies for both gas utilities and their customers."
While the deployment of smart gas meters shares some characteristics with the utilization of smart electricity meters, there are significant differences in the terminology and the fundamental assumptions applied to the two markets, according to the report. Unlike electric utilities, gas utility managers can store their product and do not face the same load balancing challenges. In addition, time-of-use billing is not a priority for gas consumption, since the price does not shift dramatically during the course of a day as it does for electricity.
The report, "Smart Gas Meters", examines the global market opportunity for smart gas meters, and analyzes the drivers and inhibitors shaping the market, along with major technology issues. The report also provides market forecasts through 2020 for smart gas meter shipments and the associated revenue, broken down by meter type and by region. Key vendor profiles, analysis of new market players, and a guide for utilities to build a business case are also included. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, Smart Industry, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant (NYS: NCI) is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, "Smart Gas Meters," is a summary and reflects Navigant Research's current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
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