The global advanced metering infrastructure market size was valued at $17.1 billion in 2020, and is projected to reach $52.4 billion by 2030, growing at a CAGR of 12.0% from 2021 to 2030. Advanced metering infrastructure (AMI) is a communication architecture that allows a smart utility meter with an IP address to communicate with a utility provider in an automatic, two-way manner. AMI is seen as an important part of any smart grid initiative. The goal of an AMI is to offer utility companies with real-time data about power consumption and allow customers to make informed choices about energy usage based on the price at the time of use.
Recent advancements in the utility business are projected to open up the possibility of a wide range of collecting systems and water utilities. Utilities are anticipated to implement dynamic pricing schemes and demand response to shift or reduce energy use to non-peak hours driven by legal and environmental objectives to save resources. However, inadequate financial incentives for utilities and the need for improvement in customer service level may hamper advanced metering infrastructure market growth. These are some of the advanced metering infrastructure market trends observed globally.
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The global AMI metering report offers market estimates of the global market, followed by a detailed analysis of the smart metering device, solution, service, end-user, and region. The global market data on advanced metering infrastructure can be segmented by product: meter communication infrastructure, smart metering devices (electricity, water, and gas), software (meter data management, meter data analytics, others), services.
Based on smart metering device, the electricity segment accounted for the major share in 2020, holding nearly three-fifths of the global market. The water segment, however, would grow at the fastest CAGR of 14.0% throughout the forecast period.
Based on solution, the software segment generated the highest share in 2020, accounting for more than four-fifths of the global market. The same segment is also projected to manifest the fastest CAGR of 12.2% from 2021 to 2030.
Based on region, the market across Europe held the lion’s share in 2020, garnering more than half of the global market. The market across Asia-Pacific, simultaneously, is expected to cite the fastest CAGR of 13.1% by the end of 2030. The other provinces studied in the report include North Europe and LAMEA.
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The key market players analyzed in the global Advanced Metering Infrastructure (AMI) market report include Itron, Eaton Corporation, Echelon Corporation, Siemens AG, Dynosonic, General FElectric, Cisco Systems, Inc., IBM Corporation, Schneider Electric SE, and Sensus. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
Impact Of Covid-19 On The Global Advanced Metering Infrastructure Market
- The COVID-19 pandemic has positively influenced the market growth, as the energy & utility sector are considered essential services that have forced the sector to rethink how their operations are performed and how they engage with both their staff and their customers.
- However, the pandemic impacted commercial and industrial job sites, causing load patterns to shift, as well as utilities’ important role in society’s power supply. It has since become every utility’s struggle to ensure that uninterrupted operation and delivery continue while adhering to the necessary social distancing guidelines required safeguarding employees and customers.
- Due to the COVID-19 pandemic, transport limitations were implemented, resulting in reduced industrial production and disrupted supply chains, which affected global economic growth by a substantial proportion, severely impacting market growth.
Companies are not earning any profit as a result of halt in operations. Not only the companies are losing money but they are also losing suppliers who are providing the required materials to various companies to be used in construction sector. 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.
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