/PRNewswire/ The "Global Water Meter Market By Product (Standard Water Meter and Smart Water Meter), By Distribution Channel (Offline and Online), By End.
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The Global Smart Meter Market size is expected to reach $38 billion by 2026, rising at a market growth of 11.1% CAGR during the forecast period.
Smart meters are referred to as electronic devices that precisely track electricity, gas, and water utilization. Usage information can be sent by these smart meters via power line communication, radiofrequency electromagnetic radiation (RF), and cellular communication, assisting the utility company to successfully manage the use of energy. A lot of advantages are provided by smart meters such as decreasing meter reading cost, preventing disconnection, reducing errors in billing, and re-connection cost to consumers and corporations.
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The global smart meter market size was $21.13 billion in 2019 and is projected to reach $39. 20 billion by 2027, to register a CAGR of 8. 80% during the forecast period.
A smart meter is a digital meter that replaces old analog meters, which are used in homes to record electrical usage. These digital meters can transmit energy consumption information to the utility in frequent intervals, and can monitor consumption more precisely. Smart meter uses wireless networks similar to mobile phone networks, to send data directly to particular energy supplier to know about how much gas and electricity is being used.
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Global Smart Meter Market (2020 to 2027) - by Product and End-use - ResearchAndMarkets.com
December 21, 2020 GMT
DUBLIN (BUSINESS WIRE) Dec 21, 2020
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A smart meter is a digital meter that replaces old analog meters, which are used in homes to record electrical usage. These digital meters can transmit energy consumption information to the utility in frequent intervals, and can monitor consumption more precisely. Smart meter uses wireless networks similar to mobile phone networks, to send data directly to particular energy supplier to know about how much gas and electricity is being used.