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The Smart Electric Meter Market size is anticipated to reach $36 billion by 2030. Increasing energy prices in developed and developing economies are expected to spur significant growth in the market over the next few years. Customers in the commercial and residential sectors are preferring smart metering solutions to reduce their energy costs.
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The total value of the utilities sector globally in 2014 was $3,676 billion. Related to a world population of more than 7 billion in 2014 this equates to about $525 per person globally. Given that World Domestic Product was approximately $78 trillion in 2014, the market makes up about 4.7% of the global economy. 83% of households globally were supplied with electricity in 2013. Urban electrification was 95% whereas, rural electrification stood at 70%. The utilities industry is one of the largest and fastest growing industries in the world. The term utilities refers to electricity, natural gas, water and sewerage services consumed by the public, hospitals, schools and other institutions, agriculture, factories and commercial establishments. In some countries these services are provided commercially by national, state or municipal governments or by cooperatives; in many, however, they are provided by the private sector.
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Increasing preference towards decentralized power generation and reduction in costs of renewable power generation are some key factors driving market revenue growth
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The global generation, transmission and distribution market was valued at $265 billion in 2017. Read more: https://www.thebusinessresearchcompany.com/report/generation-transmission-and-distribution-global-market-report-2018
The global alternative energy market size is valued at USD 1.34 billion in 2020 and reach USD 2.02 billion in 2027, registering a CAGR of 6.4% during the forecast period (2021-2027). Artificial intelligence is growing exponentially growing in controlling the load and power in alternative energy. Many alternative energy companies focus on integrating advanced equipment to generate a high amount of alternative energy for various end-use industries such as manufacturing and fabrication. Advancement in alternative energy blockchain technologies has avoided many hackers from hacking grid system, which is one of the important aspects of the alternative energy market. Request Sample Copy of this Report: https://www.marketstatsville.com/request-sample/alternative-energy-market
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