The growing inclination of people towards energy efficiency has triggered the growth of smart meters market in the recent past. Furthermore, government policies supporting the installation of smart meters have led to their faster adoption, especially in the developed countries. The governments in several countries, as a part of clean energy initiative, have issued regulations mandating the use of smart meters. For instance, the U.K. government has targeted the deployment of around 50 million smart electric and gas meters in business centers and residences by 2020.

Smart gas meters prevails the smart meters market growth   

Smart meters comprises smart electric meters, smart water meters and smart gas meters. Smart electric meters hold the largest share in the smart meters market. The traditional electric meters are being replaced by smart electric meters, especially in the developed countries. Electric power system is undergoing a transformation with the integration of newer technologies such as smart meters. Although it is more than a decade since electric meters were first deployed, now electric companies have started to focus on creating value form the data and capabilities that smart meters enable. Smart electric meters convey the real-time information about the usage of electricity and removes the hassle of personnel visiting the premises to note the reading. The demand for smart gas meters is expected to grow at the highest pace during the forecast period. Based on end-users, residential end-users dominate the demand for smart meters. However, the adoption of smart meters is faster in commercial and industrial applications.  

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