Smart Gas Market Outlook:
Smart Gas Market size was over USD 33.1 billion in 2025 and is estimated to reach USD 112.8 billion by the end of 2035, expanding at a CAGR of 14.6% during the forecast timeline, i.e., 2026-2035. In 2026, the industry size of smart gas is estimated at USD 37.9 billion.
The international smart gas market is readily undergoing a standard shift, since industries, governments, and utilities are embracing safety, sustainability, and digitalization. Besides, smart gas solutions, including cloud-based analytics, IoT-enabled leak detection, and advanced metering infrastructure (AMI), are extremely essential for consumer empowerment, regulatory compliance, and energy efficiency. According to a data report published by the Grid Works Organization in March 2022, 16 states in the U.S. comprise smart meter penetrations, which are gradually exceeding 50%. In addition, the AMI penetration has been continuously growing by 4% to 5% year, with 115 million smart meters significantly deployed, and 75% of households having s smart meter. Besides, the overall price of AMI deployment globally varies from utility to utility based on meter device, communications, data management, and others, thus making it suitable for boosting the market internationally.
Source: Grid Works Organization
Furthermore, Internet of Things (IoT) integration, cloud-based analytics, consumer empowerment, increased focus on cybersecurity, and hybrid deployment models are other factors driving the smart gas market globally. As per an article published by the IMC Organization in March 2024, internationally, IoT connections are projected to reach 40 billion by the end of 2033. In addition, by the end of 2023, there has been 16.1 billion active IoT devices, which is eventually predicted to increase to 39.9 billion, along with a 10% growth rate in 2033. Besides, the yearly device sales are expected to grow from 4.1 billion in 2023 to 8.7 billion, based on an 8% growth rate. Moreover, short-range-based technologies are projected to dominate connections, constituting 73% by the end of 2033, thereby denoting a huge growth opportunity for the smart gas market across different nations.
Yearly International IoT Connections Growth Internationally (2023-2033)
|
Year |
Growth Rate |
|
2023 |
16.1% |
|
2024 |
18.2% |
|
2025 |
20.4% |
|
2026 |
22.7% |
|
2027 |
25.0% |
|
2028 |
27.5% |
|
2029 |
30.0% |
|
2030 |
32.5% |
|
2031 |
35.0% |
|
2032 |
37.5% |
|
2033 |
39.9% |
Source: IMC Organization
