Advanced Metering Infrastructure Market size reckoned $7.50 billion in 2018 and the opportunities in the same are projecting growth at a CAGR of 9% during the forecast period 2019 to 2025. Advanced grid systems or smart meters are currently changing the market ecosystem. The enormous demands of metering systems from the energy sector are considered as the major growth catalysts in the market. With the constantly advancing technology, the key players are transforming almost every type of metering infrastructure including but not limited to the electricity meter, water meter, gas meter, and heat meter. These meters are majorly equipped in the automotive, pharmaceutical, manufacturing, information technology, energy, and the renewable energy sector. With all these fast-growing end-user verticals, the demands in the supporting advanced metering infrastructure market are also expected to grow in the upcoming years.
Advanced Metering Infrastructure Market – Geographical Analysis
The North American region generated the maximum demands in the advanced metering market in 2018. With the presence of a huge number of industries, the region managed to generate around 38% of the global demands. Additionally, the U.S. federal is also supporting the advanced metering infrastructure market by introducing various policies and mandates in the water and energy industries. The growth of industries in a sustainable and feasible manner is also one factor forcing the implementation of smart metering infrastructures in the region. Other than North America, the APAC region is also witnessing a tremendous rise in the demands for advanced metering infrastructure. The rapidly developing countries such as India and China possess the highest potential for the market on the continent.
Advanced Metering Infrastructure Market – Application Analysis
There exist multiple solutions in the advanced metering infrastructure market such as meter data management, AMI security, meter communication infrastructure, and meter data analytics. Among these, the maximum revenue is being generated from meter data analytics, and the growth in the application is resonating a CAGR of 11% during the forecast period. Analyzing the data generated from these meters provide relevant insights that are further used to make business decisions. Cost-cutting and sustainability are some of the major factors looked upon by the implementation of meter data analytics in the market. With the continuously transforming technological sector, the data analysis methods in the market are subjected to an evolution that will further enhance the current metering infrastructures.
Advanced Metering Infrastructure Market Top 10 Companies
The companies influencing the advanced metering infrastructure market are Cisco Systems, Inc., General Electric Corporation, Schneider Electric SE, Eaton, Itron Inc., Aclara Technologies LLC., Elster Group GmbH, Sensus, Tieto Corporation, IBM Corporation, Certicom Corp., SAP, Neptune Technology Group Inc., Black & Veatch Holding Company, and Huawei Technologies Co., Ltd.