IMARC Group has recently released a new research study “Advanced Metering Infrastructure (AMI) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What Are The Growth Prospects Of The Advanced Metering Infrastructure (AMI) Industry?
The global Advanced Metering Infrastructure (AMI) market size reached US$ 20.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 43.0 Billion by 2028, exhibiting a growth rate (CAGR) of 13.3% during 2023-2028.
What Is A Advanced Metering Infrastructure (Ami)?
Advanced metering infrastructure (AMI) allows two-way communication meters to read electrical consumption at a higher frequency. This information can be processed in real time, and signals are sent to manage demand. Demand-side management needs a lot of data processing to understand the load patterns and to create proper signals that enable optimal use of the distribution grid and control reserve and frequency response. Collecting data at each meter is essential for energy suppliers and distribution system operators to sufficiently understand the patterns of electrical energy users so they can magnify market signals and comprehend customer behavior. AMI allows for applications that show users how and when they are consuming energy and makes it useful to devise methods or algorithms by which response to prices can be automated and programmed.
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What Are The Key Factors Driving In The Advanced Metering Infrastructure (Ami) Market?
The escalating product demand, as it has the ability to automatically and remotely measure electricity use, connect and disconnect service, detect tampering, identify and isolate outages, and monitor voltage, is among the primary factors driving the advanced metering infrastructure (AMI) market. Besides this, the increasing penetration of the internet of things (IoT) and the elevating requirement for low-bandwidth, low-cost, and delay-insensitive solutions are further augmenting the market growth. Moreover, the development of an integrated and IT-enabled power grid and other support software to analyze the patterns is also catalyzing the global market. Apart from this, the growing popularity of new and innovative technologies, such as broadband PLC and low-power wide-area networks (LPWAN), is expected to bolster the advanced metering infrastructure (AMI) market in the coming years.
Who Are The Key Players/Companies In The Advanced Metering Infrastructure (AMI) Market?
Aclara Technologies LLC, Cisco Systems Inc., Eaton Corporation plc, Honeywell International Inc., International Business Machines Corporation, Itron Inc., Landis+Gyr, Mueller Systems LLC, Schneider Electric SE, Sensus and Trilliant Holdings Inc.
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Report Segmentation
Breakup by Product Type:
Smart Metering Devices
Electricity
Water
Gas
Solutions
Meter Communication Infrastructure
Software
Services
System Integration
Deployment
Program Consulting
Breakup by End User:
Residential
Commercial
Industrial
By Geography:
North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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