The global Smart Meters market is set to grow at a CAGR of 8.3 percent to reach USD 42.58 Bn by 2029. According to a new report by MMR, the market was valued at USD 22.50 Bn. in 2021.
Smart Meters Market Report Scope and Research Methodology
Smart meters are digital devices that communicate with consumers' utility over the internet, eliminating the need for a separate device. These meters help users monitor their electricity consumption and adjust their behaviors to lower electricity bills, resulting in greater usage. Furthermore, stringent government laws and regulations across the globe to reduce water and electricity waste, along with rising environmental concerns, are expected to encourage the implementation of smart meters during the forecast period.
Know More About The Report: