Meter Data Management System Market
Global meter data management system market is valued at approximately USD 168 million in 2017 and is anticipated to grow with a healthy growth rate of more than 20.1 % over the forecast period 2018-2025.
The advent of smart meters and smart infrastructure is considered as a major growth trend for the global meter data management system market. Key drivers for the meter data management system market are growing adoption of advanced metering technology, progressing deployment of smart meters, increasing volume of meter data coupled with demand for grid reliability and outage management. Adoption of advanced metering technologies facilitates monitoring and measuring the consumer’s information. AMI adoption offers operational and financial benefits and eliminates the requirement of on-site meter reading, improves energy theft detection and response to power outages. It also brings financial gains to utility, gas and water companies through a reduction in maintenance and equipment costs. It is an integrated system of communication, smart meters and data management systems that enable communication between customers and utilities. For instance, as per the U.S. Energy Information Administration, in 2016 U.S. electric utilities has installed about 71 million advanced metering infrastructure smart meters representing about 47% of the electricity consumers in the United States. Similarly, the government of India sanctioned about 12 smart grid projects in 2019 involves the implementation of advanced metering infrastructure. Thus, the adoption of advanced metering infrastructure is supplementing the adoption & growth of the meter data management system market. Furthermore, smart city initiatives by emerging economies are expected to create lucrative growth prospects of the meter data management system market across the globe. However, the lack of standards and the threat of cyber security and vulnerability act as a key restraint for the market during the forecast period.
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On the basis of segmentation, the meter data management system market is segmented into component, utility type, application, and end-user. On the basis of component, the market is sub-segmented into software and hardware of which software segment holds the major share owing to growth in data volume generated with the smart meter installation. Meter data management software is used for processing and to correlate the data for supporting accurate billing. The utility type segment is classified into electricity, gas, and water. Further, the end-use segment is sub-classified into residential, commercial and industrial of which residential segment dominates the market due to government support towards the adoption and deployment of smart meters. With the meter data management system, consumers have access to the energy consumption data through the meter data management system that leads to improvement in the consumer’s energy consumption. The application segment is diversified into a smart grid, energy storage, microgrid, EV charging, and others.
The regional analysis of meter data management system market is considered for the key regions such as North America, Europe, Asia Pacific, Latin America, and ROW. North America holds the leading position in meter data management system market. Major utilities in the regions are implementing the meter data management system with the growing smart meter installation. In addition, growing need to generate accurate bills on the basis of varied tariff rates in the regions is also significantly driving the market growth in the region. Whereas, Asia-Pacific is expected to emerge as the fastest growing region in terms of market share. The growth of Asia-Pacific is witnessed owing to the untapped opportunities in countries such as India and China. Moreover, high investment by government bodies coupled with supportive policies and regulation regarding smart metering technology is significantly adding growth in meter data management system market in the region.
Some market players include-
Honeywell
Abb
Siemens
Schneider Electric
Itron
Landis+Gyr
Kamstrup
Diehl
Alcara
Sensus Xylem
Powel Eaton
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
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The detailed segments and sub-segment of the market are explained below:
By Component
Software
Hardware
By Utility
Electricity
Gas
water
By Application:
smart grid
Microgrid
Energy storage
EV charging
Others
By End-user:
Residential
Commercial & industrial
By Regions:
North America
U.S.
Canada
Europe
UK
Germany
ROE
Asia Pacific
China
India
Japan
ROAPEC
LAMEA
Brazil
Mexico
ROW
Middle East & Africa
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
Target Audience of the Global Meter Data Management System Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers VARs
Third-party knowledge providers
Investment bankers
Investors
TABLE OF CONTENTS
Chapter 1. Global Meter Data Management System Market Definition and Scope
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Global Meter Data Management System Market Dynamics
Chapter 5. Global Meter Data Management System Market, By Component
Chapter 6. Global Meter Data Management System Market, By Utility
Chapter 7. Global Meter Data Management System Market, By Application
Chapter 8. Global Meter Data Management System Market, By End-User
Chapter 9. Global Meter Data Management System Market, by Regional Analysis
Chapter 10. Global Meter Data Management System Market Competitive Intelligence
10.1. Company Market Share Subject to Data Availability
10.2. Top Market Strategies
10.3. Company Profiles
10.3.1. Honeywell
10.3.1.1. Overview
10.3.1.2. Financial Subject to Data Availability
10.3.1.3. Product Summary
10.3.1.4. Recent Developments
10.3.2. Abb
10.3.3. Siemens
10.3.4. Schneider Electric
10.3.5. Itron
10.3.6. Landis+Gyr
10.3.7. Kamstrup
10.3.8. Diehl
10.3.9. Alcara
10.3.10. Sensus Xylem
10.3.11. Powel Eaton
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