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advanced metering infrastructure market
A lead analyst at AMR highlighted that the advanced metering infrastructure market in Asia-Pacific is anticipated to grow at fastest CAGR during forecast period
PORTLAND, OREGON, UNITED STATES, August 25, 2022 /EINPresswire.com / -- Allied Market Research published a research report on the advanced metering infrastructure market . The findings of the report states that the global market for advanced metering infrastructure generated $ 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. The report offers valuable information on changing market dynamics, major segments, top investment pockets, and competitive scenario for market players, investors, shareholders, and new entrants.
The report provides detailed insights on drivers, restrains, and opportunities to help the market players in devising several growth strategies. Surge in the demand for AMI communications network, increase in the penetration of internet of things (IoT), and rise in demand for low-bandwidth, low-cost, and delay-insensitive metering are expected to drive the growth of the global advanced metering infrastructure. On the other hand, hight cost of installing advanced metering infrastructure is expected to hinder the growth to some extent. On the other hand, persistent technological advancements are expected to create ample opportunities for the industry.
“Regulatory mandates and legislative directives are being issued by government bodies all over the world addressing the development of smart grids and the deployment of smart meters. These government mandates are the primary drivers of the global advanced metering infrastructure market. Furthermore, increase in energy consumption as well as the requirement for enhanced customer service and utility efficiency are driving the growth of the advanced metering infrastructure market,” says Eswara Prasad, Manager, Energy & Power.
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The report provides a detailed scenario of the impact of the Covid-19 pandemic on the advanced metering infrastructure market globally. The outbreak of COVID-19 has had a positive impact on the growth of the global advanced metring infrastructure market, owing to the occurrence of lockdowns in various countries across the globe. Lockdowns resulted in the increase in infrastructure upgradation projects during lockdowns as the activities in the energy and utility sector were considered essential services. Thus, their demand surged exponentially during the pandemic.
The report offers a detailed segmentation on the global advanced metering infrastructure market based on smart metering device, solution, service, end-user, and region.
Based on smart metering device, the electricity segment held the dominating market share in 2020, holding nearly three-fifths of the global market. The water segment, on the other hand, is expected to cite the fastest CAGR of 14.0% during the forecast period.
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Based on solution, the software segment held the largest market share in 2020, holding more than half of the global market. In addition, the same segment is expected to cite the fastest CAGR of 12.2% during the forecast period.
Based on region, the market across Europe held the lion's share in 2020, holding more than half of the global market. The Asia-Pacific region, on the other hand, is predicted to cite the fastest CAGR of 13.1% during the forecast period.
The key players analzyed in the global advanced metering infrastructure report include Itron, Eaton Corporation, Echelon Corporation, Siemens AG, Dynosonic, General FElectric, Cisco Systems, Inc., IBM Corporation, Schneider Electric SE, and Sensus.
About Allied Market Research:
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 domains.
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