Advanced Metering Infrastructure Market Overview
Advanced metering infrastructure (AMI) is a connected system comprising smart meters, communication networks, and data management systems. It enables communication between utilities and customers. The global advanced metering infrastructure market report by Market Research Future (MRFR) provides an analysis on revenue and growth by covering pertinent parameters for the period of 2017 to 2023 (forecast period). The COVID-19 pandemic and its implications are covered in the report.
Advanced Metering Infrastructure Market Scope
The global advanced metering infrastructure market is expected to grow at USD 52.4 billion by 2030 at a CAGR of 3.54% during the forecast period 2022-2030.
The market is driven by energy conservation demand by industries and consumer alike. Advanced meters are utilized by companies for integrating renewable energy resources, lowering operating expenses, and improving energy efficiency. Investments in development of SCRUM technology and development of AMI infrastructure such as meter data management system, communication infrastructure, and others can bode well for the market.
The growing population, rapid industrialization, and energy generation can drive the global advanced metering infrastructure market. Reducing the risks of utilities for organizations and development of software for collection of consumption data will bode well for the market. Modernization of low-voltage grids and support for advanced analytics can drive the rollout of smart meters. The infrastructure gives access to meters for smart configuration, software updates, and generic queries.
Adherence to multiple communication technologies and lack of standards can hamper the market growth.
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Advanced Metering Infrastructure Market Regional Analysis
North America is one of the leading regions of the world in terms of market share. The advanced metering infrastructure market in this region has a huge demand due to the increasing adoption of smart grid technology, which is propelling the market growth to a large extent. Presence of large industries and energy mandates advocating proper energy usage can drive the regional market demand in the coming years.
The advanced metering infrastructure market in Europe is expected to witness rapid growth in the forthcoming period. Use of data meters for appropriately charging customers and reducing the chances of fraud can drive the regional market implementation of AMI. Cost-cutting and sustainability efforts can drive the market demand significantly. Adoption of LPWA for communication between water meters by utility providers in the region can bolster the market.
Whereas, Asia Pacific countries such as China, Japan, and India is an emerging advanced metering infrastructure market, which is expected to grow at the highest CAGR in the coming years.
Advanced Metering Infrastructure Market Segmentation
The global advanced metering infrastructure market is segmented by device type, service, and system.
By device type, it is segmented into smart water meters, smart electric meters, smart gas meters, advanced communication modules and others.
The service segment is sub-segmented into AMI consulting, system integration, meter deployment, AMI management, and others.
The system segment is sub-segmented into meter data analytics, communication infrastructure, meter data management, AMI security, and others.
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Sensus, Elster Group GmbH, General Electric, Tieto Corporation, Aclara Technologies LLC, Silver Spring Networks, Cooper Industries, International Business Machines Corporation, Itron, Inc., Siemens AG, Cisco Systems, Inc., Trilliant, Inc., and Schneider Electric SE are key players of the global AMI market. Recently, Nolin and Trillant have partnered for connecting and managing advanced meters. The support to public utilities with the help of wireless technology can revolutionize smart metering and updating security standards.
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