Vancouver, Oct. 12, 2023 (GLOBE NEWSWIRE) -- The global Meter Data Management System (MDMS) market size is expected to reach USD 2,172.84 Million in 2032 and register a steady CAGR 20.2% during the forecast period, according to latest analysis by Emergen Research. Steady global meter data management system market revenue growth can be attributed to increasing need to deploy solutions and devices to effectively detect energy theft, increasing application of more advanced metering infrastructure, increasing installation of smart grids, and rising need to enhance energy efficiency and save energy. Meter data management is a process of collecting and storing meter data generated by automated metering systems. It primarily enables monitoring of smart meters that are commonly used in commercial and residential sectors for enabling organizations to manage their overall revenue by use of accurate energy meters and providing efficient energy solutions.
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Rising adoption of smart meters, availability of cloud computing infrastructure and Internet-of-Things (IoT), and growing focus and investment by governments in meter data management solutions are some of the major factors expected to drive revenue growth of global meter data management system market going ahead. Asia Pacific is expected to register fastest growth rate as compared to other regional markets in the global market during the forecast period. Increasing urbanization, increasing number of SMEs, and rising adoption of smart grids are factors propelling revenue growth of the market in the region.
Scope of Research
| Report Details | Outcome |
| Market size in 2020 | USD 237.3 Million |
| CAGR (2018–2032) | 20.2% |
| Revenue forecast in 2032 | USD 2,172.84 Million |
| Base year for estimation | 2020 |
| Historical data | 2018–2019 |
| Forecast period | 2021–2032 |
| Quantitative units | Revenue in USD Million; and CAGR from 2018 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Component, utility, application, end-use, and regions. |
| Regional scope | North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
| Country scope | U.S.; Canada; Mexico; Germany; France; U.K.; BENELUX; Italy; Spain; Switzerland; Russia; Rest of Europe; China; Japan; South Korea; India; Rest of APAC Brazil; Rest of LATAM; Saudi Arabia; UAE; South Africa; Turkey; Rest of MEA. |
| Key companies profiled | Itron, Siemens, Landis+Gyr, Honeywell, Schneider Electric, ABB, Eaton, Kamstrup, DIEHL, and Alcara |
| Customization scope | 10 hours of free customization and expert consultation |
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Competitive Landscape
The global meter data management system market is highly fragmented with a number of key players accounting for majority market revenue. Major players are focusing on research and development activities in order to leverage opportunities and increase revenue share in the market. Some major companies in the global MDMS market report are:
- Itron
- Siemens
- Landis+Gyr
- Honeywell
- Schneider Electric
- ABB
- Eaton
- Kamstrup
- DIEHL
- Alcara
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Strategic Developments
In July 2021, CrescoNet acquired Smart Earth Technologies. This acquisition will help CrescoNet to expand its water utility product portfolio by adding the product line Smart Earth Technologies, which includes integrated, battery-operated, cellular endpoint transceivers, valves, installation tools, LTE infrastructure, and cloud software for meter data management, and customer information systems.
In May 2021, Itron announced its partnership with Microsoft. This partnership will help both companies to create highly scalable cloud-based meter data management services for their consumers.
Some Key Findings From the Report:
- Residential segment accounted for largest revenue share in the global market in 2020. Surge in revenue share is attributed to rising application of smart meters in residential sector and increasing need to analyze power consumption.
- North America accounted for 32.7% revenue share in the global market in 2020. Increasing investment in smart meter infrastructure and robust presence of key vendors are some major factors driving revenue growth of the market in this region.
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For the purpose of this report, Emergen Research has segmented the global meter data management system market based on component, utility, application, end use, and region:
- Component Outlook (Revenue, USD Million; 2018–2032)
- Software
- Hardware
- Utility Outlook (Revenue, USD Million; 2018–2032)$1$1$1
- Gas
- Electricity
- Water
- Application Outlook (Revenue: USD Million; 2018–2032)
- Micro Grid
- Smart Grid
- EV Charging
- Energy Storage
- End Use Outlook (Revenue: USD Million; 2018–2032)
- Commercial & Industrial
- Residential
- Regional Outlook (Revenue: USD Million; 2018–2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- BENELUX
- Italy
- Spain
- Switzerland
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of MEA
- North America
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors. For more information, visit
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