Industry Insight
Advanced metering infrastructure (AMI) is a connected system comprising smart meters, communication networks, and data management systems. It enables communication between utilities and customers. The global advanced metering infrastructure market report by Market Research Future (MRFR) provides an analysis on revenue and growth by covering pertinent parameters for the period of 2017 to 2023 (forecast period). The COVID-19 pandemic and its implications are covered in the report.
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Market Scope
The global advanced metering infrastructure market is expected to grow at USD 9 billion by 2023 at a CAGR of 14% during the forecast period.
The market is driven by energy conservation demand by industries and consumer alike. Advanced meters are utilized by companies for integrating renewable energy resources, lowering operating expenses, and improving energy efficiency. Investments in development of SCRUM technology and development of AMI infrastructure such as meter data management system, communication infrastructure, and others can bode well for the market.
The growing population, rapid industrialization, and energy generation can drive the global Advanced Metering Infrastructure Market. Reducing the risks of utilities for organizations and development of software for collection of consumption data will bode well for the market. Modernization of low-voltage grids and support for advanced analytics can drive the rollout of smart meters. The infrastructure gives access to meters for smart configuration, software updates, and generic queries.
Adherence to multiple communication technologies and lack of standards can hamper the market growth.
Market Segmentation
The global advanced metering infrastructure market is segmented by device type, service, and system.
By device type, it is segmented into smart water meters, smart electric meters, smart gas meters, advanced communication modules and others.
The service segment is sub-segmented into AMI consulting, system integration, meter deployment, AMI management, and others.
The system segment is sub-segmented into meter data analytics, communication infrastructure, meter data management, AMI security, and others.
Key Players:
Some of the prominent players in the global advanced metering infrastructure market Cisco Systems, Inc. (U.S.), International Business Machines Corporation (U.S.), General Electric (U.S.), Schneider Electric SE (France), Itron, Inc. (U.S.), Aclara Technologies LLC (U.S.), Elster Group GmbH (Germany), Sensus (U.S.), Tieto Corporation (Finland), Trilliant, Inc. (U.S.), Silver Spring Networks (U.S.), Siemens AG (Germany), Cooper Industries (U.S.) among others.
Regional Outlook
North America is one of the leading regions of the world in terms of market share. The advanced metering infrastructure market in this region has a huge demand due to the increasing adoption of smart grid technology, which is propelling the market growth to a large extent. Presence of large industries and energy mandates advocating proper energy usage can drive the regional market demand in the coming years.
The advanced metering infrastructure market in Europe is expected to witness rapid growth in the forthcoming period. Use of data meters for appropriately charging customers and reducing the chances of fraud can drive the regional market implementation of AMI. Cost-cutting and sustainability efforts can drive the market demand significantly. Adoption of LPWA for communication between water meters by utility providers in the region can bolster the market.
Whereas, Asia Pacific countries such as China, Japan, and India is an emerging advanced metering infrastructure market, which is expected to grow at the highest CAGR in the coming years.
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Intended Audience
- Advanced metering infrastructure companies
- Advanced metering infrastructure providers
- Technical universities
- System integrators
- Managed Security Service Providers
- Professional service providers
- Research and development companies
- Market research and consulting firms
- Solution providers
- Technology standards organizations
- Technology investors
- System Integrators
About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.
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