Global Meter Data Management Market Scenario
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. The meter data management systems gather
consumption data from analog and smart meters. This system aggregates the
consumption data and calculates billing determinants. It also validates the
data automatically or manually. Ultimately, it stores both raw data and the
results of all operations.
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.
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).
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.
Scope of the Report
This report provides an
in-depth analysis of the global meter data management market, tracking
three market segments across five geographic regions. The report studies key
players, providing a five-year annual trend analysis that highlights market
size and share for North America, Asia-Pacific, Europe, the Middle East &
Africa, and South America. The report also presents a forecast, focusing on the
market opportunities for the next five years for each region. The scope of the
study segments the global meter data management market by component, utility
type, application, end-use, and region.
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