DUBLIN, Jan. 24, 2024 /PRNewswire/ –The “Global Advanced Metering Infrastructure Market 2030 by Solution, Service, Device Type, End-user & Region – Partner & Customer Ecosystem Competitive Index & Regional Footprints” report has been added to ResearchAndMarkets.com’s offering.
The Advanced Metering Infrastructure Market size is estimated to grow at a CAGR of 12.3% during the forecast period from 2023 to 2030.
The Global Advanced Metering Infrastructure (AMI) Market is experiencing substantial growth driven by a convergence of factors, including the need for efficient energy management, the growing demand for accurate consumption measurement, and the integration of smart grid technologies. The adoption of AMI solutions enables utility companies to enhance their operational efficiency, reduce energy losses, and provide consumers with real-time energy usage insights.
This market is particularly fueled by the advantages of AMI systems, which include remote meter reading, demand response capabilities, and improved outage management. The transition towards renewable energy sources and the integration of electric vehicles further emphasize the importance of advanced metering infrastructure systems in ensuring a resilient and sustainable energy infrastructure.
While presenting remarkable opportunities for innovation, the Global AMI Market also comes with its set of challenges. The high initial investment required for the deployment of advanced metering infrastructure can pose a hurdle for some utility companies, particularly in regions with constrained budgets.
Additionally, ensuring data privacy and cybersecurity in the context of increased data collection and communication adds complexity to the implementation of advanced metering infrastructure systems. However, the potential benefits, such as reduced operational costs, optimized load management, and improved customer engagement, are substantial drivers for the market’s growth.
Energy Efficiency and Grid Modernization
One of the primary drivers propelling the Global Advanced Metering Infrastructure (AMI) Market is the urgent need for energy efficiency and grid modernization. Traditional metering systems often lack the ability to provide real-time data and insights into energy consumption patterns, resulting in inefficient energy distribution and utilization.
Advanced metering infrastructure solutions address this gap by offering two-way communication between utility companies and consumers, enabling accurate and real-time data collection, analysis, and distribution. This granular data empowers both utility providers and consumers to make informed decisions regarding energy consumption, peak demand management, and load balancing.
Moreover, as the global energy landscape shifts towards renewable sources and decentralized energy generation, advanced metering infrastructure systems play a crucial role in adapting the energy grid to accommodate these changes. They facilitate the integration of renewable energy sources by providing utilities with the necessary information to manage variable energy generation and storage. This integration enhances grid stability, reduces reliance on non-renewable resources, and supports the transition to a sustainable energy future.
Regulatory Mandates and Environmental Concerns
The second significant driver of the Global Advanced Metering Infrastructure Market is the increasing focus on regulatory mandates and environmental concerns. Governments and regulatory bodies across the world are imposing stringent energy efficiency targets and emissions reduction goals to mitigate the impacts of climate change.
Advanced metering infrastructure systems align well with these goals by enabling efficient energy management and promoting the responsible use of energy resources. Many countries have implemented policies mandating the deployment of smart metering solutions as part of their broader energy efficiency strategies.
Advanced metering infrastructure’s ability to enable demand response programs, dynamic pricing models, and load management aligns with the goals of reducing peak energy demand, minimizing grid stress, and ultimately lowering carbon emissions. Additionally, advanced metering infrastructure systems empower consumers to actively participate in energy conservation efforts by providing them with the tools to monitor their usage, adjust consumption habits, and contribute to the overall reduction of energy wastage.
Dominating Region and Country
North America currently dominates the Global Advanced Metering Infrastructure Market, driven by initiatives in the United States and Canada to modernize energy infrastructure and enhance energy efficiency. The United States, in particular, has seen substantial AMI deployment, with around 70% of households having smart meters. Europe follows closely, with countries like Italy and Sweden leading the adoption curve.
In terms of upcoming growth potential, Asia-Pacific stands out. Countries like China and India are experiencing rapid urbanization and increasing energy demand. Regulatory initiatives aimed at energy conservation and improving grid efficiency provide a conducive environment for the adoption of AMI systems. China’s ambitious smart grid development plans and India’s focus on renewable energy integration make them key growth centers. In China, for instance, the National Energy Administration plans to deploy over 600 million smart meters by 2025. The growing need for energy optimization and the expansion of smart city projects in emerging economies contribute to the promising growth prospects for AMI solutions in these regions.
Company Profiles
- Itron Inc
- Landis+Gyr
- Siemens AG
- Schneider Electric SE
- Honeywell International Inc
- Kamstrup AS
- Aclara Technologies LLC
- Badger Meter, Inc
- Wasion Group Holdings Ltd
- Sensus (Xylem Inc)
- Elster Group (Honeywell)
- Iskraemeco dd
- Holley Technology Ltd
- Zenner International GmbH & Co KG
Major Classifications are as follows:
By Solution
- Meter Data Management
- Advanced Metering Infrastructure Security
- Meter Communication Infrastructure
- Meter Data Analytics
By Service
- System Integration
- Meter Deployment
- Program Management
By Device Type
- Smart Electric Meters
- Smart Gas Meters
- Smart Water Meters
By End-User
- Residential
- Commercial
- Industrial
By Region
- North America
- US
- Canada
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- Rest of the World
- Middle East
- UAE
- Saudi Arabia
- Israel
- Rest of the Middle East
- Africa
- South Africa
- Rest of the Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/yxfqgo
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
SOURCE Research and Markets
