Press release
Advanced Metering Infrastructure (AMI) Market is Envisioned To Surpass $52.4 bn by 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.
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
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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On the basis of type, the global advanced metering infrastructure market is segregated into smart metering devices (electricity, gas water), solutions (meter communication infrastructure and software), and services (system integration, deployment and program consulting).
On the basis of services, the program consulting segment accounted for the largest share in 2020, while the System Integration segment is projected to grow at the highest CAGR of 15.50%. AMI communications networks are driven by the need for low-bandwidth, low-cost, delay-insensitive metering. Both the network and the communications module in each meter must be as low cost as possible. The early days of AMI witnessed narrow-band Power-Line-Communication (PLC) and RF-Mesh as the primary communication technologies driving AMI adoption.
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End-user of advanced metering infrastructure includes residential, commercial, and industrial. The residential segment was the major share contributor in 2020; however, the industrial segment is projected to be the fastest growing segment at a CAGR of 13.3%. Government agencies and utilities are turning toward AMI systems as part of larger "smart grid" initiatives. For instance, the global power consumption is expected to rise by over 80% between 2012 and 2040, according to the International Energy Agency (IEA).
Region wise, the advanced metering infrastructure market is studied across North America, Europe, Asia-Pacific, and LAMEA. Europe garnered the largest share of the market in 2020, while the Asia-Pacific segment is projected to be the fastest growing segment at a CAGR of 13.1%.
The global advanced metering infrastructure industry is consolidated in nature with a few players such as Itron, Eaton Corporation, Echelon Corporation, Siemens AG, General Electric, Cisco Systems, Inc., IBM Corporation, Dynosonic, Schneider Electric SE, and Sensus, which hold significant share of the market. These players have been adopting various strategies to gain higher share or to retain leading positions in the market.
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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
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.
Request Sample Here @ https://www.alliedmarketresearch.com/request-sample/12457
On the basis of type, the global advanced metering infrastructure market is segregated into smart metering devices (electricity, gas water), solutions (meter communication infrastructure and software), and services (system integration, deployment and program consulting).
On the basis of services, the program consulting segment accounted for the largest share in 2020, while the System Integration segment is projected to grow at the highest CAGR of 15.50%. AMI communications networks are driven by the need for low-bandwidth, low-cost, delay-insensitive metering. Both the network and the communications module in each meter must be as low cost as possible. The early days of AMI witnessed narrow-band Power-Line-Communication (PLC) and RF-Mesh as the primary communication technologies driving AMI adoption.
Request a Discount Before Purchasing Report @ https://www.alliedmarketresearch.com/purchase-enquiry/12457
End-user of advanced metering infrastructure includes residential, commercial, and industrial. The residential segment was the major share contributor in 2020; however, the industrial segment is projected to be the fastest growing segment at a CAGR of 13.3%. Government agencies and utilities are turning toward AMI systems as part of larger "smart grid" initiatives. For instance, the global power consumption is expected to rise by over 80% between 2012 and 2040, according to the International Energy Agency (IEA).
Region wise, the advanced metering infrastructure market is studied across North America, Europe, Asia-Pacific, and LAMEA. Europe garnered the largest share of the market in 2020, while the Asia-Pacific segment is projected to be the fastest growing segment at a CAGR of 13.1%.
The global advanced metering infrastructure industry is consolidated in nature with a few players such as Itron, Eaton Corporation, Echelon Corporation, Siemens AG, General Electric, Cisco Systems, Inc., IBM Corporation, Dynosonic, Schneider Electric SE, and Sensus, which hold significant share of the market. These players have been adopting various strategies to gain higher share or to retain leading positions in the market.
Contact us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Follow us on: https://www.linkedin.com/company/allied-market-research
About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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