Implementing a smart metering infrastructure allows utility companies to collect data faster and more efficiently. IHS Markit forecasts almost 50 million smart water meters will ship globally in 2023, The benefits for the utility companies are undeniable. Lower cost of metering, higher frequency of metering, more accurate metering, and ultimately more data, which supports better data-driven business decisions and drives profitability and customer satisfaction.
Water is the most essential natural resource for our lives. LoRa Smart Meters are deployed all over the world helping utility companies to become more efficient.
Natural gas is the cleanest-burning hydrocarbon. It is abundant and versatile, helping meet the growing demand for energy globally. The U.S. Energy Information Administration forecasts natural gas use could continue to increase up to 53% by 2050. Gas safety is a major concern as leaks from gas line piping, grills or other sources can be precursors to devastating events. In the United States, local fire departments respond to an average of 340 natural gas leaks per day.
The transition of the electric power system is underway, and smart meters continue to be a key technology that enables customer services and communications and enhanced energy grid operations. Investing in the distribution grid, particularly in smart meters, is the foundation for a customer-facing, modern energy grid. While the deployment of smart meters began more than a decade ago, electric companies continue to find ways to create value from the data and capabilities smart meters enable.