The report forecasts the global flow meter market to grow at a CAGR of 11.45% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: A trend that is boosting market growth is the use of utility data analytics. Utility data analytics solutions are used to collect and analyze the data generated from the smart grid network. This is part of big data analytics used in the energy and utility market. The main aim of utility data analytics is to enable utility providers to optimize their efficiency and minimize losses in the services they offer. It helps to optimize the return on investments (ROI).
According to the report, a key growth driver is the emergence of smart meters. Smart meters are replacing analog and other old technology meters, as these intelligent meters offer characteristics like real-time data management and remote access. Smart meters are being promoted in the residential, commercial, and industrial sectors to record the real-time consumption of the utility services. Besides, they help end-users in analyzing their consumption pattern and cost, thus enabling them to optimize the daily consumption of these services and reduce cost.
What will the market size be in 2020 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?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?