Global Meter Data Management Market- Industry Analysis and forecast 2019-2027
Global Meter Data Management Market was valued US$ xx Mn in 2019 and the total revenue is expected to grow at 19.98% through 2020 to 2027, reaching US$ xx Mn.
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Global Meter Data Management Market Overview:
Global Meter Data Management System Market is expected to raise on account of rising demand for installation of smart meter networks with reduction in power bills. Supporting government rules to boost MDM structure coupled with rising electricity demand will support the industry outlook. Increasing rollout of present meters to decrease energy consumption along with customer usage pattern monitoring will boost the product demand. Increasing need for accurate bill generation systems & consistent grid structures will boost the meter data management system market development. Increasing consciousness toward cyber security & proper standards for interoperability is expected to positively impact the business landscape.
Rising water consumption along with fast extension of pipelines will boost the water meter data management system market. Increasing concerns toward water-scarcity & decrease of liquid wastage is expected to boost the industry landscape. Technical advancement to deliver proactive streamlining & service of liquid supply management will balance the business outlook. In addition, request for intelligent meters has improved significantly because of technical ability to monitor the pattern of resource consumption.
Introduction to numerous roll out strategies & instructions by respective government authorities toward the substitute of conventional structures by automatic devices will push the residential meter data management system market. Automatic systems enabled with IoT technology support in reduction of energy bills by handling usage amount & facilitating software applications with data capturing to repair the information in case of failures.
Furthermore, ability to control & monitor the energy flow during the high demand will support the product penetration. AMI meter data management system market is set to increase due to growing inclination toward the implementation of maintainable devices mainly through residential sector. These systems are capable of creating two-way communication bridging between services & consumers.
Growing adoption of these technology over the energy utilities to achieve load, increase services & overcome energy shortage is estimated to further increase the product demand. Low maintenance, decreased installation cost & easy accessibility are some of the important parameters adding the AMR meter data management system market growth. These devices gather consumption data & automatically analyses the facts through metering devices & conveys information to a central database for troubleshooting, billing, & analysis.
By region, UK meter data management system market is expected to grow at a significant rate during the forecast period. In 2018, the government of UK has announced a program to install intelligent meters for customers by 2030. These devices deliver accurate & real time information about resource consumption coupled with efficient energy defense capabilities therefore can donate in fulfilment of national objectives & policies.
North America controlled the meter data management system market in 2019 with a major market share & is expected to continue its control in forecast period. With the growing number of connected elements of the power grid to the internet, worries regarding cyber-attacks have improved that may hamper smart grid progress. In 2018, the Canadian government declared a US$ 76 Million call for bids to fund smart grid systems. Investments ensuing from this call for bids will support bigger-scale demos of inspiring near-commercial smart grid technologies as well as the installation of smart grid integrated systems for decreasing greenhouse gas emissions.
In Asia Pacific, countries like China, Thailand, Singapore, & South Korea, are seeing growing adoption of Electric Vehicles, which is accelerating the number of Electric Vehicle charge stations. In 2019, Royal Dutch Shell introduced Electric Vehicles chargers at petrol stations in Singapore. Such initiatives are estimated to bolster the acceptance of meter data management system systems through the region.
Global Meter Data Management Market Competitive Landscape:
Global Meter Data Management Market1
The objective of the report is to present a comprehensive analysis of the Global Meter Data Management Market including all the stakeholders of the industry. The past and current status of the industry with forecasted Market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes Market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the Market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Meter Data Management Market dynamics, structure by analyzing the Market segments and project the Global Meter Data Management Market size. Clear representation of competitive analysis of key players by Component, price, financial position, Raw material portfolio, growth strategies, and regional presence in the Global Meter Data Management Market make the report investor’s guide.
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Global Meter Data Management Market, by Component
• Hardware
• Software
Global Meter Data Management Market, by Utility Component
• Electricity
• Water
• Gas
Global Meter Data Management Market, by Application
• Smart Grid
• Micro Grid
• Energy Storage
• EV Charging
• Others
Global Meter Data Management Market, by End-Use
• Residential
• Commercial
• Industrial
Global Meter Data Management Market, by Region
• North America
• Europe
• Asia-Pacific
• MEA & Africa
• Latin America
Global Meter Data Management Market Key Players
• Eaton (Ireland)
• ABB (Switzerland)
• Schneider Electric (France)
• Siemens (Germany)
• Honeywell (U.S)
• Itron (U.S)
• Landis+Gyr (Switzerland)
• Kamstruo (Denmark)
• Powel (Norway)
• Sensus (Xylem) (U.S)
• Enoro (Finland)
• Open Access Technology International,Inc. (U.S)
• Alcara (U.S)
• DIEHL (Germany)
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