Advanced Metering Infrastructure Market is Growing Rapidly and Its Fueled by Various Trends
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.
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Advanced Metering Infrastructure: Regional Insights
On the basis of region, the 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. Growth in number of the IoT-based devices in various verticals such as electricity, water, gas, and others is major factor driving growth of the 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 August 2016, Pleasanton City (U.S) had deployed around 22,000 smart water meters. Thus, the city will able to reduce the daily average water ration per user by 50 litres a day and city-wide consumption by 450 million litres a day. Therefore, IoT-based devices are fuelling growth of the market.
Advanced Metering Infrastructure: Competitive Background
AMI market is characterized by the consolidated presence of some of the key players in the industry that include IBM Corporation, General Electric, Itron, Inc. The major vendors covered in the AMI market include Cisco Systems, Inc., IBM Corporation, General Electric, Schneider Electric SE, Itron, Inc., Clara Technologies, Elster Group GmbH, Sensus, Tieto Corporation, and Trilliant, Inc. Mergers & acquisition is major strategy adopted by the key industry players to maintain their strong industry foothold. For instance, Itron acquired Actaris Metering Systems which is producing water, gas, heat and electricity meters and associated systems.
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