A smart meter is an electronic device that measures and records the consumption of electricity, gas, or water in a home or business. Smart meters can transmit this data to utility companies in real-time, allowing them to monitor and manage energy usage more efficiently.
The global smart meter market is expected to grow at a CAGR of 9.4% from 2023 to 2028. The growth of the market is driven by the following factors:
- Increasing demand for energy efficiency: Smart meters can help consumers to reduce their energy consumption by providing them with real-time data on their usage.
- Stringent government regulations: Governments around the world are implementing regulations that require utility companies to install smart meters.
CyanConnode Holdings plc (LON:CYAN) is a world leader in the design and development of Narrowband RF mesh networks that enable Omni Internet of Things (IoT) communications.
