The new report by Expert Market Research titled, ‘Global Advanced Metering Infrastructure Market Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global advanced metering infrastructure market, assessing the market based on its segments like type, end-use and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Value (2022): USD 10. 3 Billion
• Forecast CAGR (2023-2028): 14. 2%
• Forecast Market Value (2028): USD 22.8 Billion
Disruptive technologies like the Internet of Things and linked devices have broadened the scope of the advanced metering infrastructure business. As a result of the growth of connected devices such as home gateways, smart meters, and smart plugs, new strategies for controlling and anticipating energy use have arisen. The growing convergence of IoT and smart grid is predicted to boost the growth of the advanced metering infrastructure market significantly.
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There have been significant gains in smart grid optimisation since the inclusion of AMI technology into the existing system. Furthermore, grid modernisation initiatives, rising demand for energy efficiency, and the fulfillment of regulatory duties are all expected to boost the market.
It also helps non-technical loss identification and operational cost reduction by increasing client engagement activities through two-way communication. Furthermore, combining two-way radio frequency (RF) networks with high-quality services is predicted to improve green technology, resulting in an increase in the market for advanced metering infrastructure.
AMI stands for advanced metering infrastructure, which is a set of technology that permits automatic, two-way communication between a smart utility meter and a utility company. The goal of an AMI is to deliver real-time data on power consumption to utility providers and to enable users to make informed decisions about energy use based on the price at the time of use.
Based on type, the market covers:
• Smart Meters
• Meter Communication Infrastructure
• Data Management
Based on end use, the market is bifurcated into:
The major regional markets include:
• North America
• Latin America
• Middle East and Africa
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Government restrictions limiting the use of water, energy, and gas are becoming more stringent as the emphasis on resource conservation grows. Furthermore, advances in metering technology are projected to accelerate the use of advanced metering infrastructure over time.
A major factor driving market expansion is the need to eliminate the use of manual meter reading and meter reading equipment. Furthermore, the widespread usage of advanced metering infrastructure is likely to assist the expansion of the advanced metering infrastructure business due to its numerous benefits for customers and utilities.
Key Market Players
The major players in the market are ScItron Inc, IBM Corporation, Landis+Gyr, Sensus Solutions, Siemens AG, among others.
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