Smart Gas Market worth $11.31 Billion by 2019, according new market study on ASDReports

Friday 16 May 2014, Amsterdam

A new report on Smart Gas, available on ASDReports, defines and segments the Smart Gas market into various sub-segments with in-depth analysis and forecasting of revenues. It also identifies drivers and restraints of this market with insights on trends, opportunities and challenges.

Severe challenges pose a major threat to the gas utility companies following conventional management practices. The tremendous economic and demographic growth have inflicted a sharp rise in the global natural gas demand. The operating and maintenance costs need to be managed efficiently for net profit growth and future expansions. The gas utility industry needs to meet the safety standards and compliances to provide a safe and reliable distribution network. In order to face these challenges, the utility companies should combine their operations and new-age information and communication technology (ICT) solutions. Transforming the conventional distribution practices into modern IT backed infrastructure would ensure the evolution of Smart Gas solutions. Sustainence in the competitive natural gas utility market can be achieved due to the changing environmental trends which demand an advanced eco-friendly distribution infrastructure solution. Smart Gas technology solutions possess the needed driving potential to bring about the next desired growth phase in the gas utility sector.

This report outlines the key trends that will shape the evolution of the energy utility industry. The report is segmented into various smart gas devices, solutions and services. Devices subsegment includes smart gas meters, advanced gas meters and gas meter communication modules. The solutions subsegment includes meter data management (MDM), meter data analytics, supervisory control and data acquisition (SCADA), asset management, geographic information systems (GIS), leakage detection and mobile workforce management. The services subsegment includes installation, system integration and program management. This research report analyzes global adoption trends, future growth potential, competitive outlook and best practices in this market.

This report speaks about the expected market size for the various Smart Gas solutions involved in the distribution operations and infrastructure. It also highlights the revenue potential of communicating smart gas meters and various installation services, system integration services and program management services offered by smart gas solution vendors. The report analyzes market sizes and revenue forecasts across different regions such as North America (NA), Asia Pacific (APAC), Europe, Latin America (LA) and Middle East and Africa (MEA).

The study reports that the Smart Gas market is expected to grow from $6.61 billion in 2014 to $11.31 billion in 2019.. This  represents a Compound Annual Growth Rate (CAGR) of 11.4% from 2014 to 2019. The  NA region has the largest share in Smart Gas market.