Global Smart Meter Data Management Market
Global Smart Meter Data Management Market valued approximately USD 897.60 million in 2018 is anticipated to grow with a healthy growth rate of more than 16.42% over the forecast period 2019-2026. The Smart Meter Data Management Market is continuously growing in the global scenario at significant pace. Smart meters are next-generation metering devices which are used to obtain energy consumption feedbacks, monitor, manage, and send these feedbacks to the billing management system.
These devices enable bidirectional communication between the meter and the central management system. Growing deployment of smart meters, incentives & efforts from government across the world, and increasing adoption of advanced technology metering infrastructure are the substantial driving factors of the market during the forecast period. Additionally, rising need for prescriptive & predictive analytics and increasing investment in efficient distribution networks are another factor that supporting agents for various process in the industry.
Furthermore, rise in energy demand, increase in the volume of meter data and need for improved customer service level & utility efficiency boost the market growth. Moreover, integration of distributed generation is the factors that likely to create numerous opportunity in the near future. Smart meters offers benefit to the consumers such as electrical appliances to be automatically controlled as well as allow to reduce cost by increasing energy consumption during off-peak cheaper tariff periods. With these benefits, the consumer may prefer to smart meters more which ultimately increasing demand of it across the world. However, high installation cost of smart meters for end-users is one of the major factors that limiting the growth of the market during the forecast period.
The regional analysis of Global Smart Meter Data Management Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share due to high population base, rising investments and favorable government regulation in the region. Europe and LAMEA is also estimated to grow at a significant growth rate in the global Smart Meter Data Management market over the upcoming years. Further, Asia-Pacific is anticipated to exhibit higher growth rate / CAGR over the forecast period 2019-2026 due to increasing penetration of smart meters among end-users and rising awareness towards energy consumption among people across the region.
Major market player included in this report are:
Trilliant Holdings Inc.
Elster Group GmbH
ElectSolve Technology Solutions and Services Inc.
Landis + Gyr
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.
The detailed segments and sub-segment of the market are explained below:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Smart Meter Data Management Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers VARs
Third-party knowledge providers
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