Market Insights and Analysis: Latin America Smart Metering Market Overview and Projections (2023-2028)
The Latin America Smart Metering Market size is valued at around USD 10.88 million units in 2024 andis projected to grow at a CAGR of around 8.16% during the forecast period, i.e., 2023-28.
Top leading companies in the Latin America Smart Metering Market includes:
Kamstrup Spain SL, Sensus [Eylem Brand], Honeywell Inc., General Electric Company, Itron, Landis+Gyr, Aclara Technologies, Siemens AG, Schneider Electric SE, Holley Technology Ltd., Others
Latin America Smart Metering Market Driver: Installation of Smart Meter in Residential Sector to Monitor Electricity Usage
Countries in Latin America have been installing smart metering systems for efficient management of electricity usage and monitoring the energy consumption of its residential sector. These smart meters are installed with advanced technology and are ideal for predictive analysis, which allows the government and the distribution companies to identify transmission and distribution (T&D) losses. For instance, in 2021, as per the Brazilian Electricity Regulatory Agency, the estimated overall energy losses in the T&D networks were around 17%. As a result, the use of smart meters enables them to control & ration electricity usage in the residential sector at the time of energy crisis.
Along with it, the residential sector is one of the major energy-consuming sectors in the Latin America region. For instance, in 2021, Chile and Uruguay announced their plans to roll out smart grids and installation of smart meters in the residential sector. Therefore, to optimize the electricity use the government has been encouraging the adoption of smart metering solutions in the region, positively impacting the demand for smart meters across the region, which further will enhance the market share during 2023-2028.
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Report Segmentation:
The market is categorized into the following segments in the report:
By Type of Meter
-Smart Electric Meters
-Smart Gas Meters
-Smart Water Meters
By Technology
-Automatic Meter Reading (AMR)
-Advanced Metering Infrastructure (AMI)
By Component
-Hardware
-Software
By Communication
-Radio Frequency
-Power Line Communication
-Cellular Network
By Analytical Tools
-Load Forecasting Analysis
-Preventive Analysis
-Predictive Analysis
-Others (Tamper Analysis, Diagnostic Analysis, etc.)
By Data Storage
-Cloud
-On-Premise
By End User
-Residential
-Commercial
-Industrial
- The industrial sector which includes ports, power & utility, and manufacturing establishments registered a noteworthy smart meter’s adoption rate during the historical years.
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Latin America Smart Metering Market Geographic Reach:
The Geographic Reach of the Latin America Smart Metering Market evaluates the spread and significance of Latin America Smart Metering Market consumption across different regions/country, emphasizing areas with the largest market size and the most promising growth potential.
- Mexico
- Brazil
- Argentina
- Chile
- Columbia
- Peru
- Rest of Latin America
Note: If you require specific information not covered in the current report, we can provide it through customized option
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