According to The Insight Partners' new research report, "Meter Data Management System Market — Global Analysis and Forecast to 2027," the global metre data management system market is expected to reach US$ 2.89 Bn in 2027, growing at a 14.4% CAGR from 2019 to 2027.
North America is expected to have the largest market share in 2018, while South America is expected to grow at the fastest rate, with a CAGR of 19.7%.
The consistent growth in global smart grid deployment is a key factor driving the global metre data management system market. The increasing deployment of AMI and smart metre technologies by utilities to improve service management and ROI is driving market growth. A metre data management system makes it simple to integrate information and technology into the AMI. It performs long-term data storage as well as captures metering data from AMI systems to create a metering data system of record. Furthermore, metre data management systems aid in the distribution of metre data across utilities.
Get Sample Copy of Report PDF: https://www.theinsightpartners.com/sample/TIPRE00006169/
In the South America region, the Brazilian government has not mandated smart metre deployment for power distribution companies, and the majority of smart metre investments are limited to pilot smart grid projects initiated by power distribution companies. The SAM region's EV charging infrastructure is also underdeveloped, with only a few charging stations. Countries such as Chile and Brazil, on the other hand, are seeing an increase in EV adoption, which is expected to drive the development of EV charging infrastructure. Chile, for example, aims to increase the number of EVs tenfold by 2022. In addition, the Brazilian government has adopted a new regulation to kick off the measures and conditions for the deployment of EV charging stations across the country.
Because of the rapid adoption of smart metering technology, North America is expected to dominate the metre data management system market. Furthermore, Europe is experiencing rapid growth as a result of stringent measures implemented by the government's R&D initiatives, as well as rising electricity prices. Furthermore, emerging APAC countries are significantly contributing to market growth. The increase in the APAC region can be attributed to rising electricity theft. In addition, the governments of these economies have launched a number of initiatives to build EV charging infrastructure in order to reduce greenhouse gas emissions.
This system is a component of utility companies' smart grid infrastructure. This also includes metre data analytics, which is the analysis of data emitted by electric smart metres that record energy consumption. The adoption of technological advancements in metering technologies makes it easier to measure and monitor data. Adoption of advanced Metering Infrastructure provides financial and operational benefits while eliminating the need for on-site metre reading, responding to power outages, and improving energy theft detection. It also benefits various utility companies financially by lowering equipment and maintenance costs. It is a communication, data management, and smart metering system that enables communication between utilities and consumers.
Itron Inc., Honeywell International, Inc., Landis+Gyr Group AG, Aclara Technologies LLC, and Diehl Metering GmbH are among the prominent market players in the metre data management system market, accounting for a significant share of the market due to their product offerings to the metre data management system market.
Browse More Related Reports by the insight partners:
Point-of-Care Molecular Diagnostics Market
https://www.theinsightpartners.com/reports/point-of-care-molecular-diagnostics-market
Cancer Tissue Diagnostics Market
https://www.theinsightpartners.com/reports/cancer-tissue-diagnostics-market
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876