Market Research Future (MRFR) states that the global advanced metering infrastructure market is projected to achieve the value of USD 9 billion by 2023. The global market is set to expand at a CAGR of 14% during the forecast period (2017-2023). AMI (Advanced Metering Infrastructure) is the collective term that refers to the whole infrastructure from Smart Meter to two way-communication network. It is used to control center equipment and all the applications that enable the gathering and transfer of energy usage information in real-time.
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Drivers and restraints
Accelerated integration of Internet of Things (IoT) with smart grid to open many avenues
The market size for AMI has tremendously grown over the past years, with the emergence of disruptive technologies, such as internet of things (IoT) and connected devices further fuelling the opportunity areas for AMI. With the emergence of connected devices like home gateways, smart meters, and smart plugs, innovations to manage energy usage have come into the picture. Elevated integration of IoT with smart grid opens key avenues for the growth of the AMI market as well. For instance, in 2018, Huawei started using Long-Term Evolution-IoT (eLTE-IoT backbone) network as the backbone for the AMI system. The system is designed to provide secure and cost-effective End-to-End (E2E) smart grid solutions.
On top of that, a number of benefits offered by the technology, such as the ability to detect outages and facilitation of real-time energy consumption patterns for end-users are anticipated to create traction for the market in coming years.
According to experts, the market size is bound to expand regardless of lack of capital investments for infrastructure installation. This is a safe assumption as the rising demand for energy is expected to propel the demand for advanced metering infrastructure in the coming years.
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.
Segmentation of Advanced Metering Infrastructure Market:
The global advanced metering infrastructure market is segmented into device type, service, system, and region. The device type is segmented into smart electric meters, smart water meters, smart gas meters, and advanced communication modules and others. The service segment is sub-segmented into system integration, meter deployment, AMI management, AMI consulting and others. The system segment is sub-segmented into meter data analytics, meter data management, communication infrastructure and AMI security and others. The market is spanned across regions including North America, Europe, Asia Pacific, and rest of the world.
The regional analysis of advanced metering infrastructure market is studied for regions namely Asia Pacific (China, Japan, and India), North America (the U.S., Mexico, and Canada), Europe (the U.K, Germany) and the Rest of the World. 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. The advanced metering infrastructure market in Europe is expected to witness rapid growth in the forthcoming period. 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 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.
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