The major factor that drives the smart meter market growth is supportive government policies and financial incentives. In addition, large-scale installations of smart meters by utility companies are focusing on strengthening the distribution of smart meters. However, the high cost of installations of the smart meters borne by end-users restrains the growth of the market. Various grid operators and other gas utility and water utility providers are effectively managing the demand for smart meters. However, various benefits offered by the smart meter market such as automatic meter reading and bill generation are further expected to contribute toward the growth of the smart meter industry.
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