Smart Meters Counting on Efficiency

Factors such as government policies and mandates in developed economies and accurate billing and improved customer service are driving the use of smart meters. High installation costs are a restraint for the market.

The smart meters market is set to reach $19.98 billion by 2022. As more buildings become energy efficient, contractors will find work in installing and converting smart meters.

As for the technology, AMI (advanced metering infrastructure) is expected to constitute the fastest growing market because of its advanced technology. AMI reduces labor cost and several power, water, and gas utilities worldwide are replacing AMR (automatic meter reading) with AMI infrastructure, further creating growth opportunities for the AMI market.

Asia-Pacific is estimated to be the fastest growing market for smart meters. Government policies and mandates in developed economies and accurate billing and improved customer service are driving the market. Knowing this market and ways to install smart meters will be an advantage to contractors.

Posted: 7/7/2017 1:00:39 PM



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