Advanced Metering Infrastructure Market – Overview
The use of advanced metering devices is set to rise with an increasing focus on smart management of energy sources. Market reports connected with the semiconductors and electronics industry have been presented by Market Research Future which makes reports on other industry verticals that aims to analyze the current market scenarios better. The market is set to achieve USD 9 billion in revenues while expanding at a CAGR of 14% in the duration of the forecast period.
The progress of the energy generation sector is expected to incentivize the expansion of the advanced metering infrastructure market further. The intensifying forces of industrialization and urbanization are expected to bolster the expansion of the market in the forecast period. Intensifying smart city initiatives by governments around the world are estimated to further motivate the progress of the market in the forecast period.
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Segmental Analysis
The segmentation of the Advanced Metering Infrastructure Market Analysis consists of service, system, device type, and region. The device type segment of the market consists of smart water meters, smart electric meters, smart gas meters, and advanced communication modules among others. The service segment of the market is segmented into meter deployment, system integration, AMI consulting, AMI management, and others. The system segment of the advanced metering infrastructure comprises of meter data management, meter data analytics, communication infrastructure, and AMI security and others. The market spans across regions such as Europe, North America, Asia Pacific, and the rest of the world.
Detailed Regional Analysis
The regional analysis of advanced metering infrastructure market is studied for regions namely Asia Pacific, North America, Europe and the Rest of the World. The North American region is one of the foremost regions in the market for advanced metering infrastructure in terms of market share. The advanced metering infrastructure market in this region has an enormous demand share owing to the growing implementation of smart grid technology, which is pushing the market growth to a huge extent. The progressive metering infrastructure market in the European region is anticipated to observe speedy growth in the approaching period. While, the countries in the Asia Pacific region such as Japan, China, and India are a developing advanced metering infrastructure market, which is expected to grow at a maximum CAGR in the impending years.
Competitive Analysis
The expansion of a strong value chain is additionally motivating the development of the market. The tactical goals intended for the market are buoyed due to advantageous product differentiation carried out by market contestants. The growth of the market is moving in a promising direction due to new product introductions or intensifying gross revenue of the players in the market. Increased conformity of market players to new customers and market trend inclinations are boosting the growth curve of the market and will persist in the forecast period. Substantial cuts in administrative costs are inducing further expansion of the market. The vertical supplements and product tactics of the market are advancing the potential of the market players. The effective implementation of strategies is likely to stimulate the market in the coming years.
The contenders shaping the advanced metering infrastructure market globally are International Business Machines Corporation (U.S.), Cisco Systems, Inc. (U.S.), General Electric (U.S.), Itron, Inc. (U.S.), Sensus (U.S.), Aclara Technologies LLC (U.S.), Tieto Corporation (Finland), Trilliant, Inc. (U.S.), Elster Group GmbH (Germany), Silver Spring Networks (U.S.), Siemens AG (Germany), Schneider Electric SE (France), Cooper Industries (U.S.) among others.
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Industry Updates:
Jan 2019 Dayton Power and Light (DPL) has filed an offer with the Public Utility Commission of Ohio to fulfill its digital transformation strategy. If the offer is approved, DPL will devote $576 million to modernize its energy distribution system over the span of the next decade. The utility will increase the $576 million required by growing energy bills for usual retail customers using 1000kWh by $1.99 for each month.
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