Advanced Metering Infrastructure Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Global Advanced Metering Infrastructure Market: Snapshot
Of late, the global market for advanced metering infrastructure is registering a significant surge. The rising awareness pertaining to advanced metering infrastructure, such as load management, revenue protection, and customer service improvement, is boosting the growth of this market significantly across the world. The deployment of this infrastructure enables energy utilities to support energy shortages, which is another important factor behind its uptake. The rising requirement of energy in emerging economies and the improvement in customer service level and utility efficiency, the demand for advanced metering infrastructure solutions and services has grown tremendously across all countries. The increasing uptake of Internet of Things (IoT) is also driving the growth of this market, considerably. Going forward, the rising demand for advanced metering infrastructure analytics is expected to support this market over the next few years.
North America and Europe have been leading the global market for advanced metering infrastructure and are anticipated to continue doing so over the next few years. The presence of favorable government initiatives for the deployment of smart meters and construct smart grids is the key factor behind the growth of these regional markets. Asia Pacific is also projected to witness a significant rise in its market for advance metering infrastructure in the years to come, thanks to an increasing shift towards smart grids architecture, rising need for energy management, a number of technology upgrades, and several regulatory mandates.
Global Advanced Metering Infrastructure Market: Overview
The global advanced metering infrastructure (AMI) market is driven by the increase in the construction of smart grids. Advanced metering infrastructure enables remote meter reading, which is error free and identifies any problem with the energy system. It also inspects energy, reduces load during shedding, and performs load outlining. Thus, the demand for advanced metering infrastructure is growing and this will boost the market across the globe. AMI enables two way communication between clients, thus boosting their demand. The need for enhanced customer service and improved utility efficiency will also create a heightened demand for AMI. Moreover, the rising demand for energy will push the demand for advanced metering infrastructure.
Global Advanced Metering Infrastructure Market: Key Trends
The need to reduce electricity theft has become essential with growing incidences of theft of electricity. The high cost of electricity is also a reason behind the increase in the theft of electricity. All these factors are creating a need for advanced metering infrastructure. Advanced metering infrastructure helps consumers monitor and manage their energy consumption along with time of use rate, fueling their adoption. Utility companies are making use of advanced metering infrastructure so as to identify peak time of load and manage energy demand. The increasing support from governments and regulatory bodies is expected to ensure a continued demand for advanced metering infrastructure. However, data management can be an issue. In addition to this, meter replacement is another factor which poses a challenge for the market.
Global Advanced Metering Infrastructure Market: Market Potential
Governments across countries are issuing regulatory mandates with regards to the construction of smart grids and adoption of smart meters. Government initiatives such as the one by European Union mandating the replacement of 80% of the conventional power meters with advanced metering infrastructure by 2020 are expected to encourage the growth of this market. The Tokyo Electric Power Company (TEPCO) in Japan is also planning to deploy 27 mn electric smart meters to create a platform which integrates energy management and connects smart devices to homes and businesses. Such initiatives by companies and government mandates are key drivers of the global advanced metering infrastructure.
Market players such as Eaton have developed advanced metering infrastructure that offer various utilities. Cooper Power series AMI from Eaton offers utilities, choice of meter manufacturers, flexibility to cater to all departments such as billing, engineering and others.
Global Advanced Metering Infrastructure Market: Regional Outlook
North America is a lucrative market for advanced metering infrastructure, driven by favorable government initiatives to deploy smart meters and construct smart grids. Asia Pacific is also anticipated to emerge as a lucrative market for advanced metering infrastructure. Asia Pacific is projected to generate a reasonably high demand in the coming years on account of a shift towards smart grids architecture, growing need for energy management, numerous technology upgrades, and regulatory mandates. In addition to this, growing consumer awareness about energy wastage and associated carbon footprint will also propel the adoption of advanced metering infrastructure.
Global Advanced Metering Infrastructure Market: Competitive Landscape
Some of the leading vendors operating in the global advanced metering infrastructure are Eaton, Itron, Elster Group, Schneider Electric, General Electric, Landis+Gyr, Echelon, Sensus, and Silver Spring Networks. Key players in this market are concentrating hard on offering end to end integrated services to utilities and also meter data management. Investments in research and development are a key strategy adopted by players to come up with meters that are more accurate and highly efficient.
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Latest Trends and Cardinal Growth Prospects
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Existing and Future Insights in Growth
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Ascensions in Technology
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The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
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This report is the key to questions such as:
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