Sep 24, 2020 9:41 AM ET
iCrowd Newswire – Sep 24, 2020
As per the researchers at Zion Market Research, the global advanced metering infrastructure market is anticipated to grow around USD 8.91 Billion by 2025, developing at around 15.3% CAGR during the forecast period 2019–2025. Few of the main players active in the advanced metering infrastructure market that provide advanced metering infrastructure security, smart meters solutions, and meter data management consist of IBM Corporation, Cisco Systems, Inc., Schneider Electric SE, General Electric, Aclara Technologies LLC, Itron, Inc., Sensus, Elster Group GmbH, Trilliant, Inc., and Tieto Corporation.
Increasing Implementation Of Internet Of Things To Drive The Advanced Metering Infrastructure Market Growth
The utilization of innovative metering infrastructure solutions allows energy utilities to keep up with the energy shortages, load management, customer service improvement, and revenue protection. With the rising demand for energy in developing nations and enhanced utility efficiency & customer service level, the need for advanced metering infrastructure services and solutions has seen a drastic change globally. Furthermore, rising implementation of Internet of Things (IoT) is also expected to boost the market growth. To cite, in December 2019, San Jose Water declared about filing a request with the California Public Utilities Commission (CPUC) to set up Advanced Metering Infrastructure across its service area. Such initiatives are likely to boost the market growth as well as make other follow the suit.
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Advanced Metering Infrastructure Analytics Segment Of The Market Is Anticipated To Grow Considerably
The global advanced metering infrastructure market is bifurcated based on service, device, solution, and region. The advanced metering infrastructure analytics segment of the market is anticipated to grow considerably in the forecast period. Also, the meter data management solution is projected to record the maximum stake in the advanced metering infrastructure market. The meter data repository is maintained for a limited time period by the meter data management (MDM) prior to it goes to a data depository and makes it accessible to authorized systems.
Advanced Metering Infrastructure Market Is Expected To Be Governed By North America And Europe
The global advanced metering infrastructure market based on region is classified into Latin America, Asia Pacific, North America, the Middle East & Africa, and Europe. North America and Europe are expected to rule the global advanced metering infrastructure market. In these regions, the demand is mainly propelled by governmental backing in the form of R&D undertakings of smart grid technology. Furthermore, Asia Pacific is also projected to see substantial growth of advanced metering infrastructure market in the coming period due to the rising population and approval of these modern systems by the utility firms. Moreover, rising cognizance among customers about wastage and thus carbon footprints is anticipated to boost growth of the advanced metering infrastructure market.
This review is based on a report by Zion Market Research, titled “Global Advanced Metering Infrastructure Market By Service (Meter deployment, System integration, Program management and consulting), By Device (Smart water meters, Smart gas meters, Smart electric meters), By Solution (Meter data analytics, Meter data management, Meter communication infrastructure, Advanced Metering Infrastructure security), and Region- Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 – 2025” report at https://www.zionmarketresearch.com/report/advanced-metering-infrastructure-ami-market
The global advanced metering infrastructure market is segmented as follows:
- Meter deployment
- System integration
- Program management and consulting
- Smart water meters
- Smart gas meters
- Smart electric meters
- Meter data analytics
- Meter data management
- Meter communication infrastructure
- Advanced Metering Infrastructure security
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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Keywords: Advanced Metering Infrastructure Market