New York, US, April 03, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Advanced Metering Infrastructure Market Research Report: By Device Type, Service Type, and Region - Forecast Till 2030, the market is anticipated to acquire a valuation of approximately USD 52.40 Billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 10.16 % during the assessment timeframe.
Advanced Metering Infrastructure Market Key Players
Players leading the global advanced metering infrastructure market include
- International Business Machines Corporation (US),
- Cisco Systems, Inc. (US),
- General Electric (US),
- Itron, Inc. (US),
- Schneider Electric SE (France),
- Aclara Technologies LLC (US),
- Sensus (US),
- Elster Group GmbH (Germany),
- Tieto Corporation (Finland),
- Silver Spring Networks (US),
- Trilliant, Inc. (US),
- Siemens AG (Germany), and
- Cooper Industries (US)
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Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 52.40 Billion |
| Growth Rate | CAGR of 10.16% from 2023 to 2030 |
| Base Year | 2022 |
| Study Period | 2023-2030 |
| Key Market Opportunities | rowing installation of a smart meter in the smart city project |
| Key Market Drivers | Increasing urbanization, and growing population The growing demand for increasing smart city and smart grid initiatives |
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Advanced Metering Infrastructure (AMI) is an integrated system comprising smart meters, data management systems, and communication networks, enabling two-way communication between utilities and customers. The set of equipment and systems are developed to allow the intelligent management of terminal distribution networks.
A smart meter is a basic device deployed in smart grids to provide useful DSO data and information. Smart meters allow integration into AMI systems and can be a fundamental part. The communications system and solid-state meters applied by advanced metering infrastructures can remotely provide details of a customer's electricity use at regular intervals.
Additionally, AMI systems provide information on peak electricity use, voltage, and other power characteristics. A variety of communications options AMIs provide can transmit data from individual meters back to utility operations. The evolution of smart grid development is laying a path for digitization in grids. The global energy industry faces some challenging obstacles as it successfully navigates the energy transition.
Utilities continually seek solutions to address pressing energy issues and strategic & commercially important topics. Utilities work with AMI providers to address their needs and to develop a more strategic path to the energy transition. The need for increased resiliency, grid modernization, and digital power systems to support sustainability and carbon-neutral goals creates vast demand for advanced metering infrastructure.
Industry Trends
With augmenting demand for smart metering solutions from burgeoning electrical and water supply industries, the market is projected to garner huge prominence in the next couple of years. The increasing standard for smart energy metering globally will lead the market growth, leveraging an adaptation layer. Also, the advantages of power meters, such as low maintenance cost and high operating efficiency, boost the advanced metering infrastructure market shares.
Rising government initiatives and mandates to foster digitization and implementation of smart electric, water, and gas meters across public and private utilities also escalate the advanced metering infrastructure market value. Advantages such as improved meter data management & analytics, infrastructure communication, and AMI security-relevant data metrics increase the adoption of advanced metering infrastructures.
Increasing demand for advanced metering infrastructure led by governments' focus on enhancing grid infrastructures is a major tailwind pushing market revenues. Conversely, privacy and standardization issues in utilities impede market growth. Nevertheless, growing grid infrastructures, government projects, and rising numbers of smart city projects worldwide would support the advanced metering infrastructure market growth throughout the review period.
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Advanced Metering Infrastructure Market Segments
The advanced metering infrastructure market report is segmented into device types, services, systems, and regions. The device type segment is sub-segmented into smart electric meters, smart water meters, smart gas meters, advanced communication modules, and others.
The service segment is sub-segmented into meter deployment, system integration, AMI management & consulting, and others. The system segment is sub-segmented into meter data management, meter data analytics, communication infrastructure, AMI security, and others. The region segment is sub-segmented into North America, Europe, APAC, and Rest-of-the-World (RoW).
Advanced Metering Infrastructure Market Regional Analysis
North America is the largest market for advanced metering infrastructures globally. The presence of notable industry players & well-established utilities and, extensive uptake of smart meters in the power industry & rapidly advancing technologies are major advanced metering infrastructure market trends. Besides, the increasing adoption of smart grid technology, rising electric utility rates, and cases of breached rules around energy consumption boost the advanced metering infrastructure market growth.
Advanced Metering Infrastructure Market Competitive Analysis
The market appears highly competitive due to numerous well-established players forming a competitive landscape. Leading utility solution providers for mobile advanced meter reading (AMR) and advanced meter infrastructure (AMI) networks partner with technology companies to help utilities unify their digital infrastructure.
Such partnerships help them deliver best-in-class operational analytics that can drive continuous operational improvement and accelerated digital transformation. Mergers & acquisitions, collaboration, expansion, and innovation remain the key trends for the leading players to maintain their market positions.
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For instance, on Jan 30, 2023, An India-based electronic energy meters and power distribution equipment manufacturing and distributing company, Genus Power Infrastructures Ltd. (GPIL), along with its subsidiary company Hi-Print Metering Solutions Pvt.Ltd., announced that it has been awarded contracts to provide advanced metering infrastructure. With this robust order inflow and a normalization of the supply chain, GPIL expects strong revenue growth in the coming quarters.
The appointment of Advanced Metering Infrastructure Service Provider (AMISP) by State Electricity Boards (SEBs) will include designing of AMI system with supply, installation, and commissioning. This high-value advance metering infrastructure contract will also include services, including designs, supply, installation, and commissioning of smart meters. SEBs' order for the installation of smart meters indicates that the 'Reforms-Based, Result-Linked Power Distribution Sector Scheme' will have a tangible effect.
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