The global advanced metering infrastructure market is slated to be valued at 7.91 (USD Billion) in 2019 and 18.29 (USD Billion) by 2025 at a CAGR of 15%.
The global advanced metering infrastructure market is slated to be valued at 7.91 (USD Billion) in 2019 and 18.29 (USD Billion) by 2025 at a CAGR of 15%. The report offers valuation and analysis of advanced metering infrastructure market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, restraints, sales estimates, opportunities, current & emerging trends, and industry-validated market figures. The report offers historical data from 2016 to 2018 along with a forecast from 2019 to 2025 based on value (USD Billion).
The advanced metering infrastructure system also referred to as a smart metering infrastructure system comprises of digital electricity meters and communication networks facilitating 2-way communication between utilities and end-users.
Moreover, advanced metering infrastructure is only possible if smart meters are used in smart grids. Moreover, the advent of smart grid technologies has facilitated prompt response to outages and renewable energy generation along with enhancing the efficiency of the power distribution. On the other hand, smart grid technology can create daunting challenges for the utilities or power suppliers, systems & equipment providers, and policy makers. However, an advanced metering infrastructure can help the latter in overcoming these challenges. Apparently, with advanced metering being one of the key applications of the smart grid, it is projected to inflate the growth of the smart grid market over the coming years.
Key Growth Drivers
Escalating the need for abating manual meter reading & meter reading device usage is expected to encourage the demand for advanced metering over the coming years. This is likely to transform into huge growth opportunities for the advanced metering infrastructure industry over the years to come. Furthermore, the large-scale acceptance of advanced metering infrastructure has created a new opportunity for the utility sector to add intelligence to the grid.
In addition to this, the potential of the global framework for addressing GHG emissions, the presence of ample funds for constructing robust power infrastructure, and growing renewable energy trends is likely to provide an impetus for the smart grid ventures. This, in turn, will also drive the growth of the advanced metering infrastructure industry over the forecast period.
Reportedly, an advanced metering infrastructure business was predicted to save nearly USD 9 billion for the U.S. economy by 2019. In addition to this, advanced metering provides direct information to utilities, thereby assisting the utility sector in comprehending not only the site of outages but also the outage proportion. This has helped the utilities restore power and continue selling of power quickly.
Moreover, advanced metering through its distant reconnection & disconnection abilities is likely to inflate revenue of the utilities through theft minimization and strict enforcement of disconnection policies. This is predicted to help the advanced metering infrastructure market growth gain momentum over the years ahead.
North America To Dominate Global Advanced Metering Infrastructure Market By 2025
The growth of the regional market over the forecast period is owing to the advanced metering infrastructure providers in the countries like the U.S. offering operational benefits via enhanced meter functions, effective controls, and improved visibility in the grid conditions. Furthermore, grid applications are predicted to favorably leverage the growth of the advanced metering infrastructure market in North America over the forecast timespan.
The key players likely to impact the growth of the advanced metering infrastructure market include General Electric, IBM Corporation, Schneider Electric SE, Trilliant, Inc., Cisco Systems, Inc., Elster Group GmbH, Aclara Technologies LLC, Itron, Inc., Sensus, and Tieto Corporation.
The global advanced metering infrastructure market is segmented as follows:
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