Dublin, Feb. 24, 2021 (GLOBE NEWSWIRE) -- The "Advanced Metering Infrastructure Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The Advanced Metering Infrastructure Market was valued at USD 7.75 billion in 2019 and is expected to reach USD 17.0 billion by 2025, at a CAGR of 14% over the forecast period 2020 - 2025.
Smart Meters represent a transformative technology for the utility industry. These technologically advanced meters provide greater insight into the usage of energy. In the case of smart electric meters, they ensure enhanced control of the electrical grid. Smart Meters have been employed as a part of Advanced Metering Infrastructure development initiatives around the world.
Development of an integrated and IT-enabled power grid and other support software to analyze the patterns offers significant benefits to the user. Such a grid, known as a 'smart grid', supports the expansion of distributed production, lowers costs, promotes energy efficiency and improves both the reliability and security of the entire production, transmission and distribution system.
Governmental regulations in North America and Europe regions are pushing them towards smart grids and helping them attain top spots in terms of market shares. With companies around the world increasingly being aware of the technologies, organizations are investing in integrating new technologies to produce advanced metering devices with improved performance and efficiency.
Thus, there are huge opportunities for companies to invest in the technology segment. This might also help in realizing low-cost devices that could help companies capture unexplored markets in developing nations.
Key Market Trends
Smart Meter is Expected to Hold Significant Share
- Smart meters are an internet capable measuring device used for water, energy and natural gas usage in commercial, residential and industrial areas. These systems consist of an electric meter, water meter, and control unit in a single package.
- Conventional meters can only measure water consumption whereas smart water meters helps in recording the total resource consumption, which also includes wastewater usage in several industries and many other applications.
- Currently, around 50% to 60% of the installed gas meter base in the United States and Canada are automated reading devices. Roughly, 52% of all the new meters sold in 2016 are AMI or AMR solutions. This share is predicted to increase more during the forecast period.
- The factors responsible for the growth of the smart water meter market are due to funding from the US federal and important water metering legislation. The various policies and privatization in this industry, about the usage of smart water meters for advanced metering infrastructure, is also supporting the growth of the market.
- In the United Kingdom, different energy end-user industries are using domestic smart meters to manage efficiency, reduce the carbon footprint, reduce expenditure and thereby increase the overall operations.
Competitive Landscape
The advanced metering infrastructure market is highly fragmented. Development of integrated and IT-enabled power grid and other support software to analyze the patterns, the increase in the use of smart meters, water metering solutions along with digitalization initiatives across regions, provide lucrative opportunities in the advanced metering infrastructure market.
Overall, the competitive rivalry among existing competitors is high. Moving forward, the different innovation strategy of large companies are penetrating the advanced metering infrastructure market.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Shift Toward Energy Efficient/Saving Alternatives
4.3.2 Favorable Governmental Regulations Driving Adoption
4.4 Market Restraints
4.4.1 High Initial Costs
4.5 Market Opportunities
4.6 Industry Attractiveness - Porter's Five Force Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Devices & Services
5.1.1 Smart Meters
5.1.2 Meter Communication Infrastructure
5.1.3 Data Management
5.1.4 Services
5.2 By End-user Industry
5.2.1 Residential
5.2.2 Commercial
5.2.3 Industrial
5.3 Geography
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Itron Inc.
6.1.2 IBM Corporation
6.1.3 Landis+Gyr
6.1.4 Sensus Solutions
6.1.5 Siemens AG
6.1.6 Silver Spring Networks
6.1.7 Aclara Technologies LLC
6.1.8 Cisco Systems Inc.
6.1.9 General Electric Corporation
6.1.10 Trilliant Inc.
6.1.11 Schneider Electric SE
6.1.12 Honeywell International Inc.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/97ofja