Market Insight
Increasing adoption of smart grid communication has enabled the utilities and energy retailers to improve energy efficiency and integrate renewable energy resources, bring down operating costs, and improve the grid reliability. Companies are expected to invest in research and development of the SCRUM methodology which is providing benefits in smart electric and gas meters and communication hubs. It also supports remote meter data reading, remote load limiter, and remote firmware upgrade. Further, advanced metering infrastructure are also offering various services that include advanced metering infrastructure, head-end system, communication infrastructure, and meter data management system.
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Rise in the generation of energy to cater to the demand in the advanced metering infrastructure market owing to the surging industrialization and urbanization is supplementing the growth of the global advanced metering infrastructure market. Further, upscaling population is also propelling the growth of the global advanced metering infrastructure market during the review period. Rising demand for smart cities, and smart grid initiatives are also driving the market for advanced metering infrastructure.
Advanced metering infrastructure solution is also benefitting through the centralized meter reading that aids in the reduction of operational costs, hence, aiding frequent meter reading and remote meter control. Owing to these advanced metering infrastructures, companies are known to develop the software for smart meter deployment that enables communication using the meters for the collection of data. Advanced metering infrastructure solution, aids in the management of outsourcing and reducing risks for utility of professional operations that are providers in the organization.
The global Advanced Metering Infrastructure Market is likely to witness a lucrative CAGR of 14% over the forecast period.
Market Segmentation
The global Advanced Metering Infrastructure Market is studied and segmented by service, device type, system, and region. Based on device type, the global advanced metering infrastructure market is segmented into smart water meters, smart gas meters, smart electric meters, and advanced communication modules. Based on service, the global advanced metering infrastructure market is studied for the segmentation of meter deployment, system integration, AMI consulting, and AMI management. Based on system, the global advanced metering infrastructure market is segmented into communication infrastructure, meter data analytics, AMI security, and meter data management.
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
The global advanced metering infrastructure market is studied for the regional segmentation of North America, Europe, Asia Pacific, and Rest of the World. the regional analysis of the advanced metering infrastructure market is being led by North America over the estimate period, as per the latest report released by Market Research Future (MRFR). This market domination can be due to the growing installation of smart meter in various smart city projects. Further, upscaling prominence of smart water networks that is propelling the demand for advanced metering infrastructure market.
The advanced metering infrastructure residing in Europe is bound to take on an impressive growth trajectory in the forthcoming years. Asia Pacific is poised to ascend at the highest CAGR over the forecast period. Within Asia Pacific, India, Japan, and China are anticipated to take emerge as the most prominent growth pockets in the forecast period, as per the MRFR analysis.
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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
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