IoT smart metering solutions will help utilities manage smart infrastructure and smart cities more effectively. What is more, LoRaWAN network technology has low power consumption, which will be an advantage for utility companies as it will allow them to scale operations. It will also reduce the cost of installing smart utilities as they will no longer require their separate platform or server to be used. In addition, the implementation of IoT platforms and IoT smart devices for metering will be a beneficial solution for many industries because of their low power consumption, easy access, reliable software, and high level of connectivity. For example, the smart metering solution can benefit the water industry as smart water meters can meter water consumption in real-time, sending alerts when it is overused. The utility industry can also use smart meter solutions to improve energy efficiency and reduce costs, monitoring gas and electricity usage.
There is also some other benefits Internet of Things can bring to utility providers and end-customers. The first advantage smart meter devices can bring is the reduced truck roll for sensor data collection. Here, we should also note cost savings due to reduced fuel consumption (in comparison to the city averages) and staffing requirements. Additionally, smart meters allow immense time savings as data collection for neighborhoods shifts from hours/days to seconds/minutes. Strategic mapping of data collection routes, in turn, simplifies the tracking and monitoring of data flowing. Additionally, two-way communication accommodates “pinging” for access to specific smart meters at any time. These are just a small part of smart metering benefits, and you can really increase the efficiency of your home or company with IoT applications.