Advanced Metering Infrastructure Market Size, Share, Growth Drivers, Competitor Strategies, Future Prospects and Impact of COVID
Research Reports
Mar 18, 2022
Industry Insight
The global advanced metering infrastructure market 2020 is estimated with a valuation of USD ~9 billion by the year 2023, according to the report found by Market Research Future. The report also states that the market is set to grow at a rate of ~14% during the assessment period.
Top Impacting Factors
The development of an integrated and IT-enabled power grid and other support software to analyze the patterns provides significant benefits from advanced metering. Early detection of meter failure, time-based tariff options to consumers, enhanced billing accuracy, and faster service restoration is some of the customer service benefits of the Advanced Metering Infrastructure. All these have made it popular, thus, influencing the market growth for some years. Also, the mounting demand for the escalating smart city and smart grid initiatives have been driving factors for the growth of the Advanced Metering Infrastructure Market.
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The study also focused on factors such as the need for grid modernization to replace conventional electronic meters with advance and smart meters are facilitating growth in the global advanced metering infrastructure market. In fact, the launch of dynamic pricing schemes and demand response programs are also considered as motivational factors streamlining the use of smart meters and the market as well. Demand response programs are enabling immense growth in the global advanced metering infrastructure market.
Furthermore, the factor of enormous opportunities for companies to invest in the technology related to advanced metering infrastructure is also somehow flourishing the market’s growth. This might also aid in realizing low-cost devices that could help companies capture unexplored markets in developing nations and foster the market in unusual ways. To add more in this, factors such as increasing of energy generation that is gaining demand in the advanced metering infrastructure market is owing to the rising industrialization, urbanization, and growing population is also propelling advanced metering infrastructure market growth to a large extent
Market Segmentation
The global advanced metering infrastructure market is further studied over various segments such as device type, service, and system.
The device type segment in the market has included smart water meters, smart electric meters, smart gas meters, and advanced communication modules, and more.
The service segment in the market has included meter deployment, system integration, AMI consulting, AMI management, and others.
The system segment included meter data management, meter data analytics, AMI security, and communication infrastructure.
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.
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Regional Outlook
Regionally, the global advanced metering infrastructure market is spanned across the critical regions of Asia Pacific, North America, Europe, and the rest of the world.
The regional analysis of the advanced metering infrastructure market in the North America region is considered as one of the leading regions in terms of market share on a global level. The advanced metering infrastructure market has a huge demand owing to the rising adoption of smart grid technology, which is guiding the market growth to a hefty extent. Here, Canada has witnessed large-scale incorporation of smart electricity meters after the governmental mandate with the prime motive of reducing peak-time loads. Thus, due to mounting demand and stringent regulations, the adoption of smart meters across end-users became high and influenced the market beyond expectations.
The same advanced metering infrastructure market in Europe is also rising, where it is expected to witness rapid growth in the approaching period.
The region of Asia Pacific and its countries such as China, Japan, and India is emerging advanced metering infrastructure market, which is now 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.
Contact Information:
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