The global meter data management system market size is expected to reach USD 1,040.9 Million in 2028 at a steady CAGR, according to latest analysis by Emergen Research. Major factors driving market revenue growth are increasing need to detect energy theft, rising focus and investment by governments in meter data management solutions, increasing application of more advanced metering infrastructure, rapid installation of smart grids, and growing need to enhance energy usage and reduce energy wastage. Meter data management is a process of collecting and storing meter data generated from automated energy metering systems. These systems plays a crucial role in advanced metering infrastructure that allows bidirectional communication between meter and central management system.
Meter data management solution includes meter deployment planning and management, automated smart meter provisioning, meter and network asset monitoring and management, meter-to-cash system, and workforce management system. Automated smart meter provisioning includes deletion, addition, and updating of meter data in utility and automatic meter reading systems. Meter data management system is widely used in commercial, industrial, and residential applications. Residential segment accounted for largest revenue share in the global market in 2020. This can be attributed to increasing application of smart meters in residential sector and increasing requirements to analyze power consumption
The report is streamlined with the current market scenario and economic landscape with regard to the COVID-19 pandemic. The pandemic has disrupted normal business routines and induced certain financial difficulties. The report analyses the latest scenario, changing dynamics of the market, and the overall impact of the pandemic on the market and its key segments. It analyzes the impact of the pandemic on market growth and remuneration. The pandemic has changed the economic scenario of the world and has affected several sectors of the market. The report studies the Meter Data Management System market according to the impact of the pandemic and offers a present and future impact assessment.
Market Size – USD 237.3 Million in 2020, Market Growth – at a CAGR of 20.2%, Market Trend –Increasing urbanization in developing countries
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Meter Data Management System Market –Competitive Landscape:
Key Players Profiled in the Report:
Itron, Siemens, Landis+Gyr, Honeywell, Schneider Electric, ABB, Eaton, Kamstrup, DIEHL, and Alcara..
Global Meter Data Management System Market Segmentation
Emergen Research has segmented the global meter data management system market based on component, utility, application, end use, and region:
Component Outlook (Revenue, USD Million; 2018–2028)
Software
Hardware
Utility Outlook (Revenue, USD Million; 2018–2028)
Gas
Electricity
Water
Application Outlook (Revenue: USD Million; 2018–2028)
Micro Grid
Smart Grid
EV Charging
Energy Storage
End Use Outlook (Revenue: USD Million; 2018–2028)
Commercial & Industrial
Residential
Meter Data Management System Market Key Highlights
In July 2021, CrescoNet acquired Smart Earth Technologies. This acquisition will help CrescoNet to expand its water utility product portfolio by adding product line of Smart Earth Technologies that includes integrated, battery-operated, cellular endpoint transceivers, valves, installation tools, LTE infrastructure, and cloud software for meter data management, and customer information systems.
Software segment is expected to register faster CAGR over the forecast period. This can be attributed to rising adoption of smart meters and increasing need for more accurate and efficient energy monitoring and management, format, and process for meter data for accurate billing.
Asia Pacific is expected to register fastest revenue CAGR throughout the forecast period. Increasing urbanization, increasing number of SMEs, and rising adoption of smart grid networks are key factors propelling revenue growth of the market in this region.
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The report addresses the following key points:
The report estimates the expected market size from 2021-2028
The report provides a forecast of market drivers, restraints, and future opportunities for the Meter Data Management System market
The report further analyses the changing market dynamics
Meter Data Management System Market Regional Segmentation
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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