Italy, and the UK were the most dominant market in this segment, which witnessed 86 percent of smart gas meters shipments in 2023
Global UK based research body Berg Insights has now highlighted in its new survey report that smart gas meters have gained huge traction all over the world, mostly in Europe. Towards the end of 2023, the overall installed capacity of smart gas meters in the EU region stood 55.9 million, which is equal to the penetration rate of 45 percent. By the end of 2028, the volume would escalate to 77.6 million units at a CAGR of 6.8 percent. In 2023, the volume of shipments reached 4.8 million units, which would reach around 5.8 million units in the forecasted period.
In the European market, it is highly predicted that NB-IoT will be the preferred connectivity option by 2028, but Zigbee has the highest chance of grabbing the largest share of the most installed base. The report also added that Belgium, Italy, and the UK were the most dominant market in this segment, which witnessed 86 percent of smart gas meters shipments in 2023.
According to an exclusive report of RC Wireless News, it is noted that the UK is “ramping up yearly installations” after some delays, and will reach a peak of 3.2-3.4 million units per year during 2024/25. Similar to French and the Dutch markets, the Italian market has witnessed a massive share of smart gas meters installations.
On the other hand, Belgium and Ireland are poised to contribute a massive share in regards to the shipment volumes in the coming days. Speaking of the forecasted period, around one million units of shipments will be contributed by Spain. According to James Blackman's report in RC Wireless, gas meter rollouts in Europe have been fragmented in terms of networking technologies between different countries – unlike smart electricity metering, which has tended to go on powerline communications (PLC).
