The global advanced metering infrastructure market is spanned across the Americas, Europe, Asia Pacific, and the Rest of world. North America dominates the advanced metering infrastructure market is due to the growing installation of smart meter in smart city project. On November 9, 2015, Aclara Technologies LLC signed an agreement to acquire GE Energy Management’s Grid Solutions subdivision. With this acquisition, the company is aiming toward smart infrastructure solutions by modifying the number of benefits to networks that perform automated metering and to enhance their electric utilities across the world.
The North American region is experiencing a higher demand due to its increasing prominence of smart water networks which is propelling the demand of Advanced Metering Infrastructure Market. The prominent companies such Cisco Systems, Inc. (U.S.), International Business Machines Corporation (U.S.), General Electric (U.S.), Trilliant, Inc. (U.S.), Silver Spring Networks (U.S.), Siemens AG (Germany), Cooper Industries (U.S.) are providing advanced metering infrastructure solutions in the market. These major players are investing in offering of advanced metering infrastructure solution across the world.
The global advanced metering infrastructure market is expected to reach USD ~ 9 billion at a CAGR of over 14% by the end of the forecast period.
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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.
The global advanced metering infrastructure market is segmented on the basis of device type, service, system, and region.
Smart Electric Meters to gain popularity on account of its benefits
The device type is segmented based on smart electric meters, smart water meters, smart gas meters, and advanced communication modules and others. The segment of smart electric meters is bound to expand at a high growth rate on account of its benefits, such as gaining first-class data, reduction in cost, allowing electrical appliances to be controlled and reduce carbon emission as well.
System Integration to gain traction in coming years
The service segment comprises of system integration, meter deployment, AMI management, AMI consulting and others. The system integration market is anticipated to gain significant traction during the forecast timeframe due to the surging demand from organizations to increase the efficiency of their existing systems. The system also creates a smooth coordinated system, triggering a number of organizations to adopt these services.
Meter Data Management (MDM) solutions segment is projected to observe the most promising growth
The system type is segmented into meter data analytics, meter data management, communication infrastructure and AMI security and others. The MDM solutions segment is anticipated to grow at the highest growth rate owing to the large amount of data generated and being crucial for the user. AMI services enable smarter and coordinated decision-making by mitigating the risks of the AMI infrastructure by using efficient tools and techniques.
The regional analysis of the global market is segmented into North America, Europe, Asia Pacific (APAC), and rest of the world.
North America grabs maximum market share
North America is presumed to have captured the largest market share and would lead the AMI market from 2017 to 2023. The burgeoning market size is the result of growing demand for energy forcing utilities to upgrade the electric and distribution network. In addition, the financial soundness of companies also allows them to invest heavily in the leading tools and technologies for effective energy consumption in the region. Further, Latin America offers promising growth opportunities on account of large-scale infrastructure development.
The advanced metering infrastructure market in Europe enjoys massive demand owing to the increasing adoption of smart grid technology. The United Kingdom has been one of the forerunners when it comes to promoting the adoption of integrated solutions for smart metering. Moreover, this technology helps the borough residents take complete control of resources through AMIs, proving to be instrumental in driving the adoption rate of AMIs in the region.
APAC is projected to surge at the highest CAGR on the back of preference for smart grids architecture, increasing need for energy management, several technology upgrades, and regulatory mandates. Plus, increasing consumer awareness about energy wastage will propel the adoption of advanced metering infrastructure in the region.
- 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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