Which Region of Smart Meters Will Dominate the Market?
Asia Pacific will dominate the smart meter market. Definition Smart meters are a key part of understanding the state of the electric grid, improving the performance and quality of customer service. It involves performing activities and managing equipment and systems more intelligently, with the goal of reducing energy waste and minimizing the associated environmental impact. Market by Type Based on type, the smart meter market is segmented into smart electricity meter, smart gas meter, and smart water meter, among which the smart electricity meter segment accounts for the largest market size. Smart electricity meters provide power suppliers with real-time statistics on consumers’ energy consumption on an hourly or even more frequent basis, thereby eliminating the need for manual meter reading by the power company. Electricity is one of the basic needs of the modern world, and major countries have set…