Rise in need for reducing manual meter reading & meter reading device usage is the major key factor driving the growth of the market. In addition, large-scale acceptance of advanced metering infrastructure, owing to its numerous benefits for consumers and utilities fuels the growth of the advanced metering infrastructure market.
However, high cost while implementing these solutions, inadequate financial incentives for utilities, and need for improvement in customer service level restrain the advanced metering infrastructure market. Furthermore, growth in use of internet of things (IoT) and other innovative technology is expected to provide lucrative opportunity for the market.
Utilities are adopting these solutions for their vast benefits. For instance, in May 2020, the U.S. utility Indianapolis Power & Light selected Landis+Gyr to expand its advanced metering infrastructure program.
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They would deploy 350,000 smart meters and upgrade utility’s existing network to optimize data telemetry by already installed smart meters, which is expected to help them enhance the management of energy distribution, integration of renewable resources, consumer energy efficiency, and quality of service.
North America is expected to have the largest advanced metering infrastructure market share during the forecast period, owing to its early adoption of latest technologies along with presence of big players dealing in advance metering infrastructure solutions while Asia-pacific is expected to witness highest growth during the forecast period, owing to its digital transformation and rise in awareness about sustainable use of resources in recent times, which boosts growth of the market.
Major players include Aclara Technologies LLC, Cisco Systems, Inc., Elster Group GmbH, General Electric, Itron, Inc., IBM Corporation, Schneider Electric SE, Sensus, Tieto Corporation, and Trilliant, Inc.
Key benefits of the report:
- This study presents the analytical depiction of the global advanced metering infrastructure market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global advanced metering infrastructure market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the advanced metering infrastructure market.
- The report provides a detailed advanced metering infrastructure market analysis based on competitive intensity and how the competition will take shape in coming years.
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