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The smart meter data management market in Europe is anticipated to grow at a CAGR of 14.54% during the projected period, 2020-2028. The major factors driving the market growth in Europe are the government initiatives with regard to smart metering technologies management, preventive measures for regulating electricity theft, supportive measures for electricity management, and strategic installations of smart meters in Central and Eastern Europe.
In order to understand the European smart meter data management market growth, the markets in countries like Russia, Germany, Poland, Italy, the United Kingdom, Belgium, France, and the rest of Europe that includes countries like Netherlands, Spain, Sweden, and others. In Russia, the modernization of outdated equipment and the implementation of modern systems for electricity metering is among the top priorities of the state power structures. The sale of smart meters is set to rise with the increasing adoption of smart meters and grids in Russia.
In countries like Belgium and Chile, though the compulsory installation of smart meters is seen as pragmatic, consumers are concerned about additional costs. However, replacing the old meters with smart meters is seen as the right step to improve the standards of public distribution services. Poland is dedicated to develop a smart power grid infrastructure and install smart meters for 80% of its consumers. In the Netherlands, the Dutch government is installing smart meters in every household to form a vast Internet of Things (IOT) smart grid. Spain has been a pioneer in the installation of smart meters with 100% rollout following a government mandate.
DIEHL, Enoro , Siemens AG , Landis+Gyr Group AG, Schneider Electric SE, etc. are some of the prominent players operating in the market.
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