IMARC Group, a leading market research company, has recently releases report titled “Advanced Metering Infrastructure Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global advanced metering infrastructure market growth, share, size, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Advanced Metering Infrastructure Market
Advanced metering infrastructure (AMI) allows two-way communication meters to read electrical consumption at a higher frequency. This information can be processed in real time, and signals are sent to manage demand. Demand-side management needs a lot of data processing to understand the load patterns and to create proper signals that enable optimal use of the distribution grid and control reserve and frequency response. Collecting data at each meter is essential for energy suppliers and distribution system operators to sufficiently understand the patterns of electrical energy users so they can magnify market signals and comprehend customer behavior. AMI allows for applications that show users how and when they are consuming energy and makes it useful to devise methods or algorithms by which response to prices can be automated and programmed.
How Big Is the Advanced Metering Infrastructure Market?
The global advanced metering infrastructure (AMI) market size reached US$ 20.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 43.0 Billion by 2028, exhibiting a growth rate (CAGR) of 13.3% during 2023-2028.
Global Industry Trends and Drivers:
The escalating product demand, as it has the ability to automatically and remotely measure electricity use, connect and disconnect service, detect tampering, identify and isolate outages, and monitor voltage, is among the primary factors driving the advanced metering infrastructure (AMI) market. Besides this, the increasing penetration of the internet of things (IoT) and the elevating requirement for low-bandwidth, low-cost, and delay-insensitive solutions are further augmenting the market growth. Moreover, the development of an integrated and IT-enabled power grid and other support software to analyze the patterns is also catalyzing the global market. Apart from this, the growing popularity of new and innovative technologies, such as broadband PLC and low-power wide-area networks (LPWAN), is expected to bolster the advanced metering infrastructure (AMI) market in the coming years.
Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Product Type:
- Smart Metering Devices
- Electricity
- Water
- Gas
- Solutions
- Meter Communication Infrastructure
- Software
- Services
- System Integration
- Deployment
- Program Consulting
Breakup by End User:
- Residential
- Commercial
- Industrial
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
The report provides a comprehensive analysis of the industry key players listed below:
The Major Players in the market are Aclara Technologies LLC, Cisco Systems Inc., Eaton Corporation plc, Honeywell International Inc., International Business Machines Corporation, Itron Inc., Landis+Gyr, Mueller Systems LLC, Schneider Electric SE, Sensus and Trilliant Holdings Inc.
