"Actionable Insights to Fuel Your Growth"
Advanced metering infrastructure (AMI) assists private and public utility companies to manage energy demands by identifying the peak time of load. Furthermore, advanced metering infrastructure also helps consumers manage their energy consumption as well as Time-Of-Use (TOU) rate. Advanced Metering Infrastructure provides electrical system operators with an IT-enabled interface. This infrastructure equips with several kinds of devices such as smart meter, meter communication infrastructure, data management.
Based on the device, the market is classified into smart electric motors, smart water meters, and smart gas meters. The smart electric meter segment accounted for the major share of the market and it is anticipated that it will maintain its attractiveness during the forecast period, as they provide greater insight into the usage of energy. Smart electric meters also enhanced control of the electrical grid.
Based on the solution, the global market is classified into meter data analytic, meter data management, advanced metering infrastructure security, and meter communication infrastructure. The meter data management segment accounted for the major share in the market. Meter Data Management maintains a large number of meter data repository such as customer billing, credit management, outage management, and meter asset management for a limited period.
Several governments and organizations across the globe are issuing regulatory mandates and legislative directives regarding the construction of smart grids as well as the deployment of smart meters. For instance, European Union countries have decided to replace 80% of traditional power meters with advanced metering infrastructure, by 2021. Furthermore, in Japan, the Tokyo Electric Power Company (TEPCO) plans to deploy 27 million electric smart meters and create an integrated energy management platform that connects to smart devices in homes and businesses. This factor is likely to drive the global advanced metering infrastructure market during the forecast period.
The key market restraint for the market is the high cost of installing advanced metering infrastructure. Also, inadequate financial incentives for utilities, and interoperability, and standard interface are affecting the growth of the market.
Key Market Driver -
Government Policies and Legislative Mandates for Smart Metering Devices across the Globe
Key Market Restraint -
High Maintenance Cost
Some of the major companies in the advanced metering infrastructure market are Cisco Systems, Inc., IBM Corporation, General Electric, Schneider Electric SE, Itron, Inc., Aclara Technologies LLC, Elster Group GmbH, Sensus, Tieto Corporation, and Trilliant, Inc.
The global advanced metering infrastructure market is studied across different regions like North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for the major share of the global market, as most of the advanced metering infrastructure projects are funded by the American Recovery and Reinvestment Act (ARRA) 2009. The North America market is also increasing due to the growing population and rise in the number of water applications in the U.S. and Canada. Asia-Pacific is the fastest-growing region for the global advanced metering infrastructure market, owing to the rising adaptation of smart meters in developing nations such as India and Indonesia. For instance, in February 2020, the Indian government announced the installation of 10 lakh smart meters across India under the smart meter national program (SMNP).
To gain extensive insights into the market, Request for Customization
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry