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 market, 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.
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COVID-19 Scenario Analysis:
- Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost 180+ countries around the globe with the World Health Organization declaring it a public health emergency. The global impacts of the corona virus disease 2019 (COVID-19) are already starting to be felt, and would significantly affect the advanced metering infrastructure in 2020.
- To stop the spread of corona virus, governments have implemented lockdown due to which people are forced to sit at their homes and doing work from home which will result in increase in the electric demand in the countries as advanced metering infrastructure helps to reduce the cost of metering and billing and more customer control over electricity consumption, costs, and bills it will create the demand for advanced metering infrastructure which will help to grow the advanced metering infrastructure market in the future.
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.
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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. 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.
AMI handle task areas that include text messaging, external profile calculation, disconnection/reconnection, meter reading processes, and technical master data exchange. AMI also enables utilities to offer new time-based rate programs and incentives that results in reducing peak demand and also helps to manage energy consumption and reduce costs.
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Key segments coveredKey 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 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.
Key Market Players:
- Schneider Electric SE,
- IBM Corporation,
- Tieto Corporation,
- Dynosonic,
- General Electric,
- Itron, Inc,
- Landis+Gyr,
- Elster Group GmbH,
- Sensus,
- Trilliant Inc.
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