The analysts forecast global gas utility monitoring system market to grow at a CAGR of 8.35% during the period 2018-2022. One trend in the market is ease of use of advanced technologies.
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The increasing need for compliance with safe environmental practices and the development of sophisticated communication networks have resulted in utilities investing in technologies such as fiber optics.
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In fiber optic technology, fiber optic strands, which are as thin as human hair but can carry vast amounts of data, are used to transmit data. Optic fiber technology uses sound and temperature signal analysis, which can quickly detect any changes in temperature, pressure, or stress.
Thus, any change in the pipeline is received quickly by a remote monitoring station, which in turn, helps the utilities to determine the exact point of threat and address it quickly.
Major key players in the global gas utility monitoring system market: Aclara Technologies, Honeywell International, Itron, Landis+Gyr, Oracle, and Xylem.
According to the gas utility monitoring system market report, one driver in the market is increase in use of natural gas. The demand for natural gas has been increasing significantly, and the fuel has become a widespread substitute for coal and crude oil.
The demand for natural gas is predicted to grow faster than that of coal and crude oil, growing at more than 1% during the forecast period. The growing concerns over environmental pollution and regulatory controls over the emissions of greenhouse gases have led to higher demand for natural gas.
The increase in demand for natural gas in industries for the production of chemical and petrochemical products is also expected to be a major driver.
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Further, the gas utility monitoring system market report states that one challenge in the market is highly complex and expensive retrofit operations. One of the biggest challenges for the deployment of gas utility monitoring systems is the high Installation cost incurred on the deployment of gas utility monitoring systems.
The installation cost of hardware, such as smart gas meters is the highest cost component of AMI for the gas utility monitoring system. Besides this, networking technology and communication also require a considerable amount of investment, which is an additional cost for utilities that already run on a tight budget.
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Key questions answered in this report:
What will the market size be in 2022 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
Few Points from List of Exhibits Provided in Global Gas Utility Monitoring System Market:
Exhibit 1: Related Market
Exhibit 2: Market Characteristics
Exhibit 3: Market Segments
Exhibit 4: Market Definition - Inclusions and Exclusions Checklist
Exhibit 5: Market Size 2017
Exhibit 6: Validation Techniques Employed For Market Sizing 2017
Exhibit 7: Global Gas Utility Monitoring System Market Size and Forecast 2017-2022 ($ Millions)
Exhibit 8: Global Gas Utility Monitoring System Year-Over-Year Growth 2018-2022 (%)
Exhibit 9: Five Forces Analysis 2017
Exhibit 10: Five Forces Analysis 2022
Exhibit 11: Bargaining Power of Buyers
Exhibit 12: Bargaining Power of Suppliers
Exhibit 13: Threat of New Entrants
Exhibit 14: Threat of Substitutes
Exhibit 15: Threat of Rivalry
Exhibit 16: Market Condition - Five Forces 2017
Exhibit 17: Customer Landscape
Exhibit 18: End-User Market Share 2017-2022 (%)
Exhibit 19: Comparison by End-User
Exhibit 20: Residential and Commercial Market Size and Forecast 2017-2022 ($ Millions)
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