The global meter data management market is estimated
to progress at 20.24% CAGR during the forecast period. The
meter data management systems gather consumption data from analog and smart
meters.
Meter data management is a solution for managing
metered consumption data. Additionally, it also performs long-term data storage
and management for huge quantities of data delivered by smart metering systems.
It gathers, processes, and stores all types of data to help utilities deal with
rising data volumes and succeed in a dynamic industry.
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Industry
Segmentation
On the basis of end-use, the global market has been
segmented into residential, commercial, and industrial. The residential segment
is the largest segment in the market due increasing use of smart meters in the
residential complex to gather consumption data. The increasing population
across the globe is positively triggering the demand for more infrastructure,
thereby leading into increased number of smart meters. This would ultimately
drive the demand for meter data management, which is an integral part of smart
metering.
On the basis of component, the global market is
segmented into software and hardware. The software segment is expected to
dominate the market due smart meter installations being taken place at a fast
pace, which needs to be processed, formatted, and supported with the help of
proper software management. On the basis of application, the global market has
been segmented into smart grid, energy storage, microgrid, EV charging, and
others. The smart grid segment is expected to dominate the market due to the
growing investment in smart grid, of which meter data management is a part. On
the basis of utility type, the global market has been segmented into electric,
gas, and water. The electric segment is expected to dominate the global market
as the amount of electricity produced and consumed is in huge amount, which
needs to be managed properly, requiring proper management for meter data.
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Regional
Outlook
On the basis of region, the global meter data
management market has been segmented into Asia-Pacific, North America, Europe,
the Middle East & Africa, and South America. North America holds the
largest share in the meter data management market due to increasing investments
in smart grid infrastructure to upgrading the network and prevent losses.
Moreover, in 2018, North America held the largest share of the global meter
data management market, mainly due to the increasing installation of smart
meters across the region. According to U.S. Department of Energy’s Smart Grid
Investment Grant Program, there are few projects announcements have been made
with few scheduled deployments such as those by Consolidated Edison and
Hawaiian Electric helping to sustain the presence of AMI activity. All these
factors will drive the market for meter data management market in the region.
Leading
Players
The key players operating in the global meter data
management market are Landis+Gyr (Switzerland), Eaton (Ireland), ABB
(Switzerland), Kamstrup (Denmark), Siemens (Germany), Powel (Norway), Honeywell
(US), Itron (US), Schneider Electric (France),
Enoro (Finland), Sensus (Xylem) (US), and Open Access Technology
International, Inc. (US).
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