The meter data management system market accounted to US$ 837.6 Mn in 2018 and is expected to grow at a CAGR of 14.4% during the forecast period 2019 – 2027, to account to US$ 2,891.7 Mn by 2027.
The demand for reliable, quality, and safe power accelerate the growth of the meter data management systems market globally. Furthermore, incentives and support from government worldwide are expected to fuel the market growth. However, recognizing the role of technology as well as their significance to utilities, along with the absence of adequate standards for communication and functionality, may hinder growth in the market. Also, inadequate or undeveloped service-oriented architectures at utilities rolling out the smart meters and AMI also acts as hindering factors to the market growth.
Global Meter data management system Market report aims to provide a 360-degree view of the market in terms of cutting-edge technology, key developments, drivers, restraints and future trends with impact analysis of these trends on the market for short-term, mid-term and long-term during the forecast period. Further, the report also covers key players profiling with detailed SWOT analysis, financial facts and key developments of products/service from the past three years.
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The major players operating in the market for meter data management system market are ABB Ltd., Aclara Technologies LLC, Diehl Metering GmbH, Eaton Corporation, Honeywell International, Inc., Itron Inc., Kamstrup A/S, Landis+Gyr Group AG, Schneider Electric SE, and Siemens AG among others.
Meter data management system, is majorly used across the globe owing to the ability to provide timely reading, automating metering, and producing fine-grained data. The systems collect utility consumption data at a time interval, usually every 15 minutes or hourly. Meter data analytics systems are an ICT-based platform for analyzing the collected meter readings, which has become an indispensable part of utilities running the smart grid. The data is then used to generate various analytics, including constant consumption, meter to cash, negative consumption, abnormal consumption, others these reports help the client to get deep insights on utility consumption patterns and trends. Analytics in the meter data management system is expected to help the government to make a decision for future smart grid development based on analytic results. For consumers, smart meter data analytics can help them understand their own energy consumption in a better way, save energy, and reduce their utility bills. Smart meter analytics, thus, is seen so important that the market has been growing rapidly. This trend is predicted to pitch over the period leading to a huge opportunity for the meter data management system players.
To provide detailed information regarding the major factors (drivers, restraints, opportunities, challenges, and trends) influencing the growth of the global Meter data management system Market.
To forecast the size of the market segments with respect to four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World (Latin America and the Middle East & Africa)
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