Advanced Metering Infrastructure Market to Hit 12.3% CAGR by 2030

CITY, Country, 2024-Apr-22 — /EPR Network/ —

The Advanced Metering Infrastructure Market size is estimated to at a CAGR of 12.3% during the forecast period from 2023 to 2030. Advanced Metering Infrastructure (AMI) is a modern and sophisticated system for measuring, collecting, and managing utility consumption data, such as electricity, water, and gas. This technology leverages smart meters equipped with two-way communication capabilities to facilitate real-time data exchange between utility providers and consumers.

AMI enables accurate and automated meter readings, eliminating the need for manual data collection. This enhances billing accuracy, reduces human errors, and offers more transparent and timely billing information to consumers.

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One of the key features of AMI is its ability to provide consumers with real-time consumption data, allowing them to monitor and manage their energy or water usage more efficiently. Additionally, utility providers can identify consumption patterns, detect leaks, and optimize distribution networks through the insights gained from continuous data flow.

The integration of AMI supports demand response programs by enabling utilities to communicate with and control certain appliances remotely during peak load periods, promoting energy efficiency and grid stability.

Major players in the Advanced Metering Infrastructure Market include Itron Inc, Landis+Gyr, Siemens AG, Schneider Electric SE, Honeywell International Inc, Kamstrup AS, Aclara Technologies LLC, Badger Meter, Inc, Wasion Group Holdings Ltd, Sensus (Xylem Inc), Elster Group (Honeywell), Iskraemeco dd, Holley Technology Ltd, Zenner International GmbH & Co KG, and Others.

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Energy Efficiency and Grid Modernization
One of the primary drivers propelling the Global Advanced Metering Infrastructure (AMI) Market is the urgent need for energy efficiency and grid modernization. Traditional metering systems often lack the ability to provide real-time data and insights into energy consumption patterns, resulting in inefficient energy distribution and utilization.

Regulatory Mandates and Environmental Concerns
The second significant driver of the Global Advanced Metering Infrastructure Market is the increasing focus on regulatory mandates and environmental concerns. Governments and regulatory bodies across the world are imposing stringent energy efficiency targets and emissions reduction goals to mitigate the impacts of climate change.

Dominating Region and Country:
North America currently dominates the Global Advanced Metering Infrastructure Market, driven by initiatives in the United States and Canada to modernize energy infrastructure and enhance energy efficiency. The United States, in particular, has seen substantial AMI deployment, with around 70% of households having smart meters. Europe follows closely, with countries like Italy and Sweden leading the adoption curve.

The report further studies the market strategies of key players, recent development status, plans, and Advanced Metering Infrastructure Market trends across the world. Also, it splits the market segmentation further to deep dive into research and reveals company profile and prospects.

Major Classifications are as follows:

• By Solution
  • Meter Data Management
  • Advanced Metering Infrastructure Security
  • Meter Communication Infrastructure
  • Meter Data Analytics
• By Service
  • System Integration
  • Meter Deployment
  • Program Management
• By Device Type
  • Smart Electric Meters
  • Smart Gas Meters
  • Smart Water Meters
• By End-User
  • Residential
  • Commercial
  • Industrial

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The Advanced Metering Infrastructure (AMI) market is driven by several key factors that highlight the increasing demand for efficient and data-driven utility management. These drivers include:

Energy Efficiency Goals: Governments and utilities are aiming to improve energy efficiency and reduce carbon emissions. AMI enables real-time consumption data, empowering consumers to make informed choices and utilities to implement demand-side management strategies.

Accurate Billing and Revenue Management: AMI eliminates estimation errors by providing accurate and automated meter readings, leading to precise billing and revenue collection for utility providers.

Real-Time Data Insights: The ability to collect and analyze real-time consumption data helps utilities identify consumption patterns, peak demand periods, and potential inefficiencies, allowing for more informed decision-making.

Demand Response Programs: AMI enables utilities to implement demand response initiatives by remotely controlling appliances during peak load times, supporting grid stability and reducing strain on the energy system.

Consumer Empowerment: Real-time consumption data allows consumers to monitor and manage their usage, encouraging energy-saving behaviors and increasing overall awareness of resource consumption.

Water Conservation Efforts: In the case of water utilities, AMI assists in detecting leaks, identifying water wastage, and promoting water conservation by providing timely consumption information.

Infrastructure Modernization: Aging metering infrastructure needs upgrades. AMI adoption offers an opportunity to replace outdated systems with modern, digitally connected meters.

Remote Monitoring and Control: AMI facilitates remote meter reading and control, reducing the need for manual intervention and streamlining utility operations.