Smart Gas Market By Component (Hardware [Smart Gas Meters, Sensors, Communication Modules], Software [Meter Data Management (MDM) Software, Billing and Customer Management Software], Services [Installation Services, Maintenance Services, Consulting Services]); By Meter Type (Automated Meter Reading (AMR), Advanced Metering Infrastructure (AMI)); By Technology (Cellular, Radio Frequency (RF), Power Line Communication (PLC), Wi-Fi); By End-User (Gas Utilities, Government Agencies, Residential Consumers, Commercial Enterprises, Industrial Facilities); By Geography, Segment revenue estimation, Forecast, 2024-2032.

The smart gas market was worth USD 10.2 billion in 2023 and will be worth USD 20.5 billion by 2030, growing at a CAGR of 10% during the forecast period.

 

The smart gas market is driven by the growing demand for efficient gas distribution and monitoring systems, particularly as global gas consumption is projected to increase by over 30% by 2040. Smart gas meters, which enable real-time monitoring and remote reading, help utilities reduce losses due to leaks and theft, improving operational efficiency by as much as 20%. For example, the implementation of smart meters in Europe has led to significant reductions in gas theft and improved billing accuracy. Recent developments include integrating IoT technology into smart gas meters, allowing for predictive maintenance and enhanced data analytics, helping gas utilities optimize their infrastructure and reduce downtime. Furthermore, governments worldwide are pushing for smart infrastructure projects, including the rollout of smart meters, to improve energy management and ensure environmental sustainability, further driving the market.

 

There is great potential for smart gas market growth in developing countries, where the application of smart gas meters is becoming more and more important due to the requirement for the optimization of energy use and the minimization of expenditures. For instance, India intends to add more than 300 million smart meters of different types, including gas meters, to build a more accurate and honest system of billing, as well as to reduce energy losses. It has also been observed that the Middle Eastern region is foraying into smart gas at a very fast pace as part of smart city development. More recent products include the smart gas meters under the IoT; these meters offer consumption rates in addition to helping to detect leakage points, thus reducing the amount of gas loss to between 5%-15%. The smart gas market receives a greater focus on efficiency in energy and smart grids from emerging markets, and the policies also support the same, leading to an international market for smart gas solutions.

 

 

Smart Gas Market Segmentation 

By Component:

• Hardware

  • Smart Gas Meters

  • Sensors

  • Communication Modules

• Software

  • Meter Data Management (MDM) Software

  • Billing and Customer Management Software

• Services

  • Installation Services

  • Maintenance Services

  • Consulting Services

 

By Meter Type:

• Automated Meter Reading (AMR)

• Advanced Metering Infrastructure (AMI)

 

By Technology

• Cellular

• Radio Frequency (RF)

• Power Line Communication (PLC)

• Wi-Fi

 

By End-User:

• Gas Utilities

• Government Agencies

• Residential Consumers

• Commercial Enterprises

• Industrial Facilities

 

By Region

North America

• US

• Mexico

• Canada

• Rest of North America

 

Europe

• Switzerland

• Russia

• France

• Germany

• U.K

• Finland

• Turkey

• Netherlands

• Belgium

• Spain

• Italy

• Rest of Europe

 

Asia Pacific

• India

• China

• South Korea

• Japan

• Singapore

• Thailand

• Indonesia

• Malaysia

• Philippines

• Australia

• Rest of Asia-Pacific

 

LAMEA

• Brazil

• Argentina

• Uruguay

• Saudi Arabia

• Rest of LAMEA

 

Segment Analysis for the Smart Gas Market

By Component:

Leading Segment: Hardware

Hardware, including smart gas meters, sensors & communication modules, dominates the market with over 50% of the revenue share. The demand for smart gas meters is driven by large-scale deployments by utility companies to enhance gas usage monitoring and billing accuracy. European gas utilities such as Italgas have installed millions of smart gas meters equipped with advanced sensors and communication modules. The hardware segment is projected to grow steadily at a CAGR of 7.5% due to the increasing adoption globally.

Fastest-Growing Segment: Software

The software segment, particularly Meter Data Management (MDM) software, is growing at a CAGR of 12%. Utilities are using special software called MDM (Meter Data Management) to look at how much energy people are using. This helps them make billing more accurate and gives customers a better experience. Companies like Oracle and Itron have powerful MDM tools that help utilities handle lots of data easily. Because of this, the use of MDM software is growing fast in the smart gas market.

 

By Meter Type:

Leading Segment: Automated Meter Reading (AMR)

AMR (Automatic Meter Reading) has the biggest share of the market, making up about 60%, because it's cheap to set up and is widely used in developing areas. AMR technology allows utilities to gather usage data from a distance, which cuts down on operational expenses. For instance, in India, Indraprastha Gas Limited uses AMR technology to simplify the process of reading meters.

Fastest-Growing Segment: Advanced Metering Infrastructure (AMI)

AMI is growing rapidly at a CAGR of 14%. The growth is driven by the growing focus on real-time data monitoring & demand-response capabilities. AMI (Advanced Metering Infrastructure) is different from AMR because it can communicate back and forth. This lets utilities give users information about their energy use and control gas supply remotely. In North America, the use of AMI has grown a lot, with companies like PG&E using it to better manage their energy grids.

 

By Technology:

Leading Segment: Radio Frequency (RF)

RF technology leads the market with a share of 40% due to its extensive use in residential smart gas meters. RF-based solutions offer reliable connectivity over long distances, making them ideal for urban & suburban settings. Itron’s RF-enabled smart meters are deployed by utilities in the United States to improve connectivity & data accuracy.

Fastest-Growing Segment: Cellular

Cellular technology is the fastest-growing segment, with a CAGR of 15%. The growth is driven by its flexibility & ability to support IoT-based smart metering. Cellular connectivity is particularly popular in regions with robust telecommunications infrastructure. AT&T collaborates with smart meter manufacturers to integrate LTE-M technology into their systems, enhancing communication efficiency.

 

By End-User:

Leading Segment: Gas Utilities

Gas utilities dominate the market with a share of 45% as they are the primary adopters of smart gas technologies to enhance operational efficiency & meet regulatory compliance. British Gas has deployed millions of smart meters across the UK, leveraging them to reduce billing inaccuracies & detect gas leaks.

Fastest-Growing Segment: Residential Consumers

The residential segment is growing at a CAGR of 13%, driven by increasing consumer demand for smart home solutions & energy-efficient systems. Programs like Italy’s national smart meter rollout & Japan’s energy management initiatives highlight the surge in residential adoption. Smart gas meters with real-time consumption tracking capabilities are gaining traction among homeowners.

 

By Region:

Leading Region: North America

North America holds over 35% of the market share, driven by government mandates for smart meter installations & advanced infrastructure. The U.S. leads the region, with companies like Sensus & Honeywell supplying smart gas meters to major utilities like Con Edison. North America is projected to grow steadily at a CAGR of 8%.

Fastest-Growing Region: Asia Pacific

Asia Pacific is the fastest-growing region, with a CAGR of 14%, fueled by rapid urbanization and government-led smart meter programs. For example, China’s National Energy Administration has mandated the adoption of smart gas meters to optimize resource usage. India’s Gas Authority of India Limited (GAIL) is actively investing in smart gas technologies to expand the country's natural gas infrastructure.

Future Outlook of the Smart Gas Market

The smart gas market is poised for robust growth driven by increasing energy efficiency mandates, advancements in IoT technologies & the shift toward smart infrastructure globally. With utilities adopting advanced metering solutions such as AMI and RF-based technologies, the market is expected to grow at a double-digit CAGR over the next decade. Emerging economies in Asia Pacific, led by China and India, will play a pivotal role due to government-backed initiatives for digital transformation in energy management. Additionally, the integration of AI & predictive analytics into Meter Data Management (MDM) software will revolutionize how utilities monitor gas consumption & detect anomalies, reducing operational costs & improving customer satisfaction. Key players are focusing on developing sustainable & interoperable solutions. Collaborations with telecommunications providers for cellular-based connectivity are expected to further enhance adoption. Overall, the market is set to witness robust growth, with residential & industrial sectors driving demand, particularly in regions investing heavily in smart city projects.

 

Smart Gas Market Key Players

• Itron Inc.

• Landis+Gyr

• Siemens AG

• Schneider Electric

• Sensus (Xylem Inc.) (A Xylem brand)

• Honeywell International Inc.

• ABB Ltd.

• Elster Group GmbH (Honeywell) (Now part of Honeywell)

• Aclara Technologies LLC (A Hubbell company)

• Diehl Metering

• CyanConnode Holdings

 

Smart Gas Market Report Coverage

Report Attribute	Details
Forecast Period	2023 – 2030
Market Size Value in 2023	USD 10.2 billion
Revenue Forecast in 2030	USD 20.5 billion
Overall Growth Rate	CAGR of 10%
Base Year for Estimation	2022
Historical Data	2017 – 2021
Unit	USD Billion, CAGR (2023 – 2030)
Segmentation	By Component, By Meter Type, By Technology, By End-User, By Region
By Component	Hardware, Software, Services
By Meter Type	Automated Meter Reading (AMR), Advanced Metering Infrastructure (AMI)
By Technology	Cellular, Radio Frequency (RF), Power Line Communication (PLC), Wi-Fi
By End-User	Gas Utilities, Government Agencies, Residential, Commercial, Industrial
By Region	North America, Europe, Asia-Pacific, LAMEA
Country Scope	US, Canada, Mexico, UK, Germany, France, China, Japan, India, South Korea, Australia, etc.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs.