Coherent Market Insights

Europe Advanced Metering Infrastructure Market to Reach US$ 10,825.6 Million by 2028

Europe Advanced Metering Infrastructure Market to Reach US$ 10,825.6 Million by 2028 - Coherent Market Insights

Publish In: Jan 24, 2022

The Europe advanced metering infrastructure market was valued at US$ 5,410.7 Million in 2020 and is expected to surpass US$ 10,825.6 Million by 2028, registering a CAGR of 9.2% during the forecast period (2021-2028), according to the Europe Advanced Metering Infrastructure Market Report, by Type (Hardware (Smart Meters, Communication Module, and Others (IT Hardware, etc.)), Software (Meter Data Management (MDM), Head End System (HES), Meter Data Analytics, and Others (AMI Security, etc.)), and Services (System Integration, Meter Deployment, and Others (AMI Consulting, etc.)), by End User (Residential, Commercial and Industrial), and by Country (Germany, U.K., Italy, France, Spain, Russia, and Rest of Europe), published by Coherent Market Insights.

Increasing adoption of construction 2020 mission is expected to drive market growth during the forecast period. The construction 2020 mission was established for ensuring that the construction industry in the Europe will become more competitive and the industry will experience sustainable growth in the short and long run. The actionable plan of construction 2020 was “sustainable competitiveness of the construction sector and its enterprises”, which is expected to create lucrative demand for advanced metering infrastructure in addition to the growth of the construction industry. For instance, according to the Global Construction Perspectives and Oxford Economics, by 2030, U.K. is expected to be the largest market in Europe, and the world’s sixth-largest construction market. This is projected to generate significant demand for advanced metering from the region.

Europe Advanced Metering Infrastructure Market - Impact of Coronavirus (Covid-19) Pandemic

  • In Europe, most of the countries are affected by COVID-19 pandemic and have announced lockdown. Due to this, most of the companies are offering work from home option and after office hours people can save most of their time. Due to the COVID-19 pandemic, transport limitations were implemented, resulting in reduced industrial production and disrupted supply chains, which affected Europe economic growth by a substantial proportion, severely impacting market growth. Furthermore, due to social distancing norms during COVID-19, the manufacturing companies are working with limited workforce, thus negatively impacting the production and construction processes.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/europe-advanced-metering-infrastructure-market-4883

Browse 60 market data tables and 40 figures on "Advanced Metering Infrastructure Market - Europe forecast to 2028”.

Key Trends and Analysis of the Europe Advanced Metering Infrastructure Market:

  • Rest of Europe held dominant position in the Europe advanced metering infrastructure market in 2020, and is expected to retain its dominance throughout the forecast period. This is attributed to increasing demand for smart meters from residential and commercial sectors. Moreover, growing demand for commercial spaces for various end-use for office spaces, malls, and hotels is expected to propel demand for advanced metering in the region. For instance, according to Coherent Market Insights’ analysis, 19 million square feet of office will be created in Berlin, Germany by the year-end of 2021, which will require advanced metering for energy monitoring.
  • Among end user, residential segment held a dominant position in the market in 2020, and is expected to retain its dominance during the forecast period. Advanced metering is increasingly being adopted across residential houses or complexes in Europe, for the automatic management of energy consumption, which in turn enables the owner to effectively manage electric units consumed and voltage level in the house. Smart buildings and smart homes are gaining popularity in sustainable construction. In addition to this, smart meters allow end-users to monitor energy consumption, which will reduce human error in meter reading, and increase the speed of fault detection if it occurs. The information provided by these systems is used by the system operator to enhance energy supply, and for another purpose such as load scheduling, demand-side management and non-intrusive load monitoring. For instance, according to Coherent Market Insights, the number of homes in Europe with devices working on IoT were around 22.7 million by the end of 2017, which is expected to grow over the forecast period.
  • Major players operating in the Europe advanced metering infrastructure market include Landis+Gyr, Itron Inc., Siemens AG, General Electric Co., IBM Corporation, Eaton Corporation, Aclara Technologies LLC, Elster Group GmbH, Schneider Electric SE, Gemalto, Cisco Systems, Inc., EDMI Limited, Diehl Stiftung & Co. KG, Apator SA, Flonidan A/S, and Sensirion AG

 

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