Advanced Metering Infrastructure Market- Global Insights, Trends, and Opportunity Analysis, 2022-2028

 

Advanced Metering Infrastructure Market

One of the Smart Grid solutions that enables two-way communication between service providers and customers is called Advanced Metering Infrastructure (AMI). Smart metres installed in a variety of sectors, including residential, commercial, and industrial, are used by this system to collect data. These systems assist in reducing energy waste and cost control. This element is anticipated to have a favourable effect on the market for advanced infrastructure metering.

The trend toward digitalization, which is on the rise, is to blame for rising energy demand. The Energy Information Administration (EIA) projects that between 2015 and 2040, global energy consumption would increase by 28%. The need for energy is growing as a result of variables including population growth and economic expansion. Additionally, as smart home technology becomes more widely used, so does the use of IOT-based smart devices. Therefore, it is anticipated that rising energy consumption, which is a good result of digitalization, will fuel the Advanced Metering Infrastructure Market expansion.

Types of Advanced Metering Infrastructure-

·        Smart Water Meter

·        Smart Gas Meter

·        Smart electric meter

Applications of Advanced Metering Infrastructure -

·        Residential Application

·        I&C(Instrument and Control System) Application

The North American, European, Asian Pacific, Middle Eastern, and African regions make up the majority of the global market for advance metering infrastructure. In 2017 North America dominated the market, and it is anticipated that it will continue to do so during the forecast period. Throughout the projected period, it is anticipated that the U.S. would have the largest market share, followed by Canada. The Annual Shipments Of Smart Power Metres In North America Will Increase From 8.8 Million Units In 2018 To 19.9 Million Units In 2024, According To Coherent Market Insights Report.

Another important reason that is anticipated to contribute to the growth of the worldwide advance metering infrastructure market is the increase in the number of IoT-based devices across a variety of verticals, including electricity, water, and gas. Installing smart water metres, which enable users to better manage water consumption through access to real-time usage data, is a significant trend seen in several countries of the region. As an illustration, the American technology company Itron announced the release of its new intelligent gas metre, the Itron Intelis gas metre, in June 2018. To give post-processing analytics and close to real-time data, the Itron Intelis gas metre may operate in mobile mode on the Itron OpenWay Riva and Gen5 IoT networks. Consequently, IoT-based gadgets are promoting the expansion of the global Advanced Metering Infrastructure Market.

Major Company Profiles included are- IBM Corporation, General Electric, Itron, Inc. The major vendors covered in the global advance metering infrastructure market includes, Cisco Systems, Inc., IBM Corporation, General Electric, Schneider Electric SE, Itron, Inc., Clara Technologies, Elster Group GmbH, Sensus, Tieto Corporation, and Trilliant, Inc.

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