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Meter Data Management System Market Revenue To Hit $428 Million By 2023

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By Author: MarketsandMarkets™ INC.
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The global Meter Data Management System Market is projected to reach USD 428 million by 2023 from an estimated USD 169 million in 2018, at a CAGR of 20.48%. This growth can be attributed to the increased government policies and supportive mandates for smart meter installations and need for accurate utility bill generation.

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The electricity segment is expected to hold the largest share of the Meter Data Management System Market, by utility type, during the forecast period.

The electricity segment is estimated to dominate the Meter Data Management System Market in 2018 and is projected to have the largest market share during the forecast period. This is mainly because there is increased global rollout of smart meters to reduce energy consumption and monitor customer usage pattern to determine load and outage management. Furthermore, meter data management allows utilities to develop new business models such as time of consumption tariff rate which is further expected to contribute to the growth of the electricity segment.

Browse and in-depth TOC on "Meter Data Management System Market"
71 - Tables
33 - Figures
139 - Pages

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The residential segment is expected to be the fastest growing segment of the Meter Data Management System Market, by end-user, during the forecast period.

The residential segment accounted for the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing mandated rollout of smart meters in the residential sectors across regions such as the EU and North America. Countries such as the UK, France, Italy, and the US have mandated smart meter installation targets by 2023. This is expected to increase the demand for Meter Data Management System Market in the forecast years. In addition to this, grid upgrade, energy efficiency targets, and transmission and distribution investment in North America and Europe is further contributing to the growth of the residential segment.

North America: The leading market for meter data management system.

In this report, the Meter Data Management System Market has been analyzed with respect to 5 regions, namely, North America, South America, Europe, Asia Pacific, and the Middle East & Africa. North America is estimated to dominate the global Meter Data Management System Market in 2018 owing to the smart meter installation development and growth in countries such the US, Canada and Mexico. There is a huge requirement for power and infrastructural development due to aging grid network in the region. The US and Mexico are also investing in infrastructure and power generation projects to tackle growing population demands. The growth of the Meter Data Management System Market in this region is also driven by smart meter rollouts and need to stabilize the grid and generate accurate utility billing. Subsequent smart grid development programs, microgrid, energy storage, and EV charging infrastructure is further expected to propel the growth of the market in the region.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Meter Data Management System Market. Some of the key players are Itron (US), Siemens (Germany), Landis+Gyr (Switzerland), Honeywell (US) and Schneider Electric (France), ABB (Switzerland), Eaton (Ireland), Kamstrup (Denmark), DIEHL (Germany), and Alcara (US). The leading players are adopting various strategies to increase their shares in the Meter Data Management System Market.

Please Explore Relevant Reports:

Smart Electric Meter Market by Communication Technology Type (Radio Frequency, Power Line Communication, and Cellular), End-User (Residential, Commercial, and Industrial), Phase (Single Phase, and Three Phase), and Region - Global Forecast to 2023

Smart Water Metering Market by Type (AMR and AMI), by Component (Meters & Accessories, Communication, and IT Solution), by Application (Water Utilities and Industries) and by Region - Global Trends & Forecast to 2021

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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