The increasing focus on utility efficiency, stringent government regulations focusing on sustainable use of non-renewable energy are some of the factors boosting the Advanced Metering Infrastructure market.
New York City, United States – May 19, 2020 /MarketersMedia/ —
The global advanced metering infrastructure market is forecast to reach USD 21.05 Billion by 2026, according to a new report by Reports and Data. Advanced metering infrastructure (AMI) can be considered as an integrated system of communications networks, data management systems and smart meters that enables two-way communication between customers and utility providers. The market is witnessing continuous growth due to its effectiveness in providing various essential functions, which were needed to be performed manually or were not possible earlier. As an instance, remotely measuring electric use, disconnect and connect services, isolate outages, detect tampering among others are some of these functions possible with this infrastructure. One of the mentionable feature of this system is, it provides with customer technologies like programmable communicating thermostats and in-home displays along with enabling utilities to provide with new time-based rate programs and incentives.
This report covers the current COVID-19 effects on the economy. This outbreak has brought along drastic changes in world economic situations. The current scenario of the ever-evolving business sector and present and future appraisal of the effects are covered in the report as well.
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Companies considered and profiled in this market study
IBM Corporation, Cisco Systems, Inc., General Electric Corporation, Aclara Technologies LLC., Itron Inc., Schneider Electric SE, Elster Group GmbH, Trilliant Inc., Sensus and Tieto Corporation.
The companies have emphasized on different strategies like new launches, partnerships, mergers, and acquisitions for ascertaining their market growth.
For the purpose of this report, Reports and Data have segmented the global AMI market based on Component, Product Type, Solution, Service, End-user, and region:
Component Type Outlook (Revenue, USD Billion; 2016-2026)
• Meter
• Collector
• Head-end System
• Communication infrastructure
• Others
Product Type Size Type Outlook (Revenue, USD Billion; 2016-2026)
• Two-way smart meters
• Communication Modules
Solution Type Outlook (Revenue, USD Billion; 2016-2026)
• Meter Data Analytics
• Meter Data Management
• Meter Communication Infrastructure
• Advanced Metering Infrastructure Security
Service Type Outlook (Revenue, USD Billion; 2016-2026)
• Meter Deployment
• System Integration
• Program Management and Consulting
End-user Type Outlook (Revenue, USD Billion; 2016-2026)
• Commercial
• Residential
• Industrial
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Further key findings from the report suggest
• The AMI market held a market share of USD 6.82 Billion in the year 2018 and forecasted to grow at a rate of 15.1% during the forecast period.
• In regards to Product Type, the Communication Modules segment can be seen to witness a faster growth rate of 16.4% during the forecast period, which is expected to occupy 35.0% of the market by 2026. The growth rate experienced by the segment is resultant of rising demand for remotely managing metering mechanisms that can be effectively performed by communication modules, which helps in collecting information in real-time.
• In the context of the Service, the Meter Deployment segment held the largest market share of 38.0% in 2018, with a growth rate of 15.3% during the forecast period. A meter is an essential component of the infrastructure; expansion of the market would result in elevating the demand for its deployment, which contributes to the market share occupied by this segment.
• In regards to the End-user, the Commercial segment occupies the largest market share of 48.0% in 2018, with a growth rate of 14.8% during the forecast period. The rise in the number of smart buildings for commercial use and elevated emphasis on the effective use of energy in these buildings contributes to the market share occupied by this segment.
Regional Outlook (Revenue, USD Billion; 2017-2027)
• North America
• Europe
• Asia Pacific
• MEA
• Latin America
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