According to a new market research report “Advanced Metering Infrastructure Market by Device (Smart Electric, Water, & Gas Meters), by Solution (MDM, Meter Data Analytics, AMI Security, and Meter Communication Infrastructure), by Service, and by Regions – Global Forecast to 2020″, The advanced metering infrastructure market size is expected to grow from USD 4.48 Billion in 2015 to USD 9.19 Billion by 2020, at an estimated Compound Annual Growth Rate (CAGR) of 15.5% during the forecast period.
Various benefits of the advanced metering infrastructure technology, such as ability to detect outages and facilitation of real-time energy consumption patterns for end-users are expected to create traction for the market in the next five years. The major drivers of this market include increasing global energy demand; government mandates and legislative compliances; and the need for improved customer service level and utility efficiency.
Browse 48 market data tables and 43 figures spread through 114 pages and in-depth TOC on “Advanced Metering Infrastructure Market by Device (Smart Electric, Water, & Gas Meters), by Solution (MDM, Meter Data Analytics, AMI Security, and Meter Communication Infrastructure), by Service, and by Regions – Global Forecast to 2020”
Increasing integration of Internet of Things (IoT) with smart grid to open major opportunities
The market size for advanced metering infrastructure has considerably grown over the past few years and the emergence of disruptive technologies, such as IoT and connected devices has further augmented the opportunity areas for advanced metering infrastructure. With the emergence of connected devices, such as home gateways, smart meters, and smart plugs, innovative ways to manage and predict energy usage have come into the picture. Increasing integration of IoT with smart grid opens major opportunities for the growth of the advanced metering infrastructure market.
Meter Data Management (MDM) solutions segment is expected to hold the most promising potential for the next five years
The advanced metering infrastructure market has been segmented into solutions and services. Advanced metering infrastructure solutions can range from standalone AMI security, MDM, analytics, and Meter Communication Infrastructure (MCI) to integrated solutions where service providers can provide one stop end-to-end solutions to utilities. The MDM solutions segment is projected to grow at the highest growth rate due to the large amount of data being generated and is crucial for the user; hence it is likely to present the largest market opportunity during the forecast period. Advanced metering infrastructure services are aimed at enabling smarter and coordinated decision-making by mitigating the risks and vulnerabilities of the advanced metering infrastructure by the use of efficient tools and techniques.
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North America contributes maximum market share currently
North America is expected to have the largest market share and would dominate the advanced metering infrastructure market from 2015 to 2020, since rising demand for energy has forced utilities to upgrade the electric and distribution network. The financial soundness of the companies in this region also enables them to invest heavily in the leading tools and technologies for effective energy consumption. Latin America offers potential growth opportunities due to large-scale infrastructure development.
The major vendors covered in the advanced metering infrastructure market for this study include Cisco Systems, Inc. (California, U.S.), IBM Corporation (New York, U.S.), General Electric (Connecticut, U.S.), Schneider Electric SE (Rueil-Malmaison, France), Itron, Inc. (Washington, U.S.), Aclara Technologies LLC (Missouri, U.S.), Elster Group GmbH (Essen, Germany), Sensus (Raleigh, U.S.), Tieto Corporation (Helsinki, Finland), and Trilliant, Inc. (California, U.S.).