Market Analysis
The global advanced metering infrastructure market will touch USD 9 billion at a 14% CAGR by 2023, states the latest Market Research Future (MRFR) report.
Drivers
Increase in Energy Consumption Demand to Boost Market Growth
The increase in the energy consumption demand due to rising industrialization and urbanization will boost market growth over the forecast period.
Opportunities
Smart City Initiatives to offer Robust Opportunities
Smart city initiatives and digitalization of the utility and energy sector in different developing economies will offer robust opportunities for the advanced metering infrastructure market over the forecast period.
Besides, the increasing adoption in utilities and government agencies, the growing need to maintain smart meters to deliver accurate billing for the industries, and the growing need to augment the levels of customer service as well as efficiency of public services are also adding market growth.
Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/5185
Restraints
Inadequate Financial Incentives to act as Market Restraint
The inadequate financial incentives for utilities coupled with standard interference & interoperability may act as market restraint over the forecast period.
Challenges
Lack of Skilled Persons to act as Market Challenge
The lack of skilled persons to monitor the systems when they are complications in real-time application coupled with high maintenance & installation cost of such systems may act as market challenge over the forecast period.
Market Segmentation
The advanced metering infrastructure market is bifurcated based on service type and device type.
By device type, the global advanced metering infrastructure market is segmented into advanced communication modules, smart gas meters, smart electric meters, & smart water meters.
By service type, the meter data management segment will lead the market over the forecast period.
COVID-19 Analysis
The COVID-19 crisis possessed a positive effect on the advanced metering infrastructure market growth. This is because the utility and energy sector are regarded as essential services which have forced the sector in rethinking how their operations are performed as well as how they engage with their customers and staff. Yet as the outbreak impacted industrial and commercial job sites & load patterns shifted, the critical role of utility’s in powering society too has changed. Since then it has become every utility’s struggle in ensuring that uninterrupted delivery and operation continue while taking care to adhere to the essential social distancing guidelines needed to safeguard its customers and employees.
Regional Analysis
North America to Head Advanced Metering Infrastructure Market
North America will head the advanced metering infrastructure market over the forecast period. Rising adoption of smart grid technology, increasing population, rising number of water and electricity applications, the presence of advanced metering infrastructure, favorable government initiatives, growing government investments to deploy smart meters, early adoption of latest technologies, and also the presence of big players that deal in advance metering infrastructure solutions are adding to the global advanced metering infrastructure market growth in the region.
Key Players
Eminent industry players profiled in the global advanced metering infrastructure market report include Cisco Systems, Inc. (U.S.), International Business Machines Corporation (U.S.), General Electric (U.S.), Trilliant, Inc. (U.S.), Silver Spring Networks (U.S.), Siemens AG (Germany), Cooper Industries (U.S.).
Get Complete Report @ https://www.marketresearchfuture.com/reports/advanced-metering-infrastructure-market-5185
About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.
Media Contact:
Market Research Future (Part of Wantstats Research and Media Private Limited)
99 Hudson Street, 5Th Floor
New York, NY 10013
United States of America
+1 628 258 0071 (US)
+44 2035 002 764 (UK)
Email: sales@marketresearchfuture.com
Website: https://www.marketresearchfuture.com
0 Comments
If u have any doubts, Please let me know