Advanced Metering Infrastructure (AMI) is one of the Smart Grid tools that allows two-way communication between services provider and customers. This system obtains data with help of smart meter installed in various sectors such as residential, commercial business, and industries. These system help with cost controlling and minimizing the wastage of energy. This factor is expected to positively impact the growth advanced infrastructure metering market.
Increasing demand for energy is one of the major factor driving growth of the market
Increasing trend of digitalization is responsible for increasing the demand of energy consumption. According to the Energy Information Administration's (EIA), world energy consumption is estimated to grow by 28% between 2015 and 2040. Growing population and economic development are factors responsible for increasing demand of the energy. Moreover, increasing adoption of smart home technology in turn increases the utilization of smart devices, which are based on IOT. Hence, consumption of energy, which positively increase with digitization is expected to propel growth of the market.
Advanced Metering Infrastructure: Taxonomy
On the basis of meter type, the global advanced metering infrastructure market is segmented into:
On the basis of solution, the global advanced metering infrastructure market is segmented into:
On the basis of service, the global advanced metering infrastructure market is segmented into:
On the basis of application, the global advanced metering infrastructure market is segmented into:
On the basis of regions, the global advanced metering infrastructure market is classified into:
Global Advanced Metering Infrastructure Market: Regional Insights
On the basis of region, the global advance metering infrastructure market is segmented into North America, Europe, Asia Pacific, Middle East, and Africa. The North America held the dominant position in the market in 2017 and is projected to retain its dominance throughout the forecast period. The U.S. is anticipated to hold highest market share, followed by Canada throughout the forecast period. According to Coherent Market Insights analysis, the yearly shipments of smart electricity meters in North America will grow from 8.8 million units in 2018 to 19.9 million units in 2024. Moreover, the growth in number of the IoT-based devices in various verticals such as electricity, water, and gas are the another major factors expected to boost the growth of the global advance metering infrastructure market. A major trend observed in these countries of the region is installing smart water meters, which helps consumers to improve management of water consumption through access of real-time usage data. For instance, in June 2018, Itron, American Technology Company, announced the launch of its new intelligent gas meter, Itron Intelis gas meter. The Itron Intelis gas meter can be operate in mobile mode and on the Itron OpenWay Riva and Gen5 IoT networks to deliver post-processing analytics and near real-time data. Therefore, IoT-based devices are fuelling growth of the global advance metering infrastructure market.
Global Advanced Metering Infrastructure Market: Key Players
Global advance metering infrastructure market is characterized by the consolidated presence of some of the key players in the industry which includes, IBM Corporation, General Electric, Itron, Inc. The major vendors covered in the global advance metering infrastructure market includes, Cisco Systems, Inc., IBM Corporation, General Electric, Schneider Electric SE, Itron, Inc., Clara Technologies, Elster Group GmbH, Sensus, Tieto Corporation, and Trilliant, Inc.
Global Advanced Metering Infrastructure Market: Key Developments
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