There are ways to cut down on industry-wide energy waste by implementing smart grids and smart metering systems. By installing smart metering equipment at various grid points, energy companies can monitor the amount of electricity being utilised in real-time. As a result of the UN climate objective and other energy efficiency initiatives, Advanced Metering Infrastructure Market are anticipated to experience significant growth throughout the projection period. Therefore, it is anticipated that the need to increase operational effectiveness and reduce power losses will open up market potential.
Despite its many advantages, implementing ASR is difficult due to uniformity, large upfront expenditures, and connection with other grid systems. Smart metres, as opposed to traditional metres, function and transmit data using digital components and communication networks. This raises the price of smart metering hardware. Additionally, based on operational needs and consumer demands, many smart metres are built with additional parameters, which raises their cost.
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