Advanced Metering Infrastructure (AMI) Market 2021 Revenue Status And Forecast Report 2030

Advanced Metering Infrastructure (AMI) Market

Advanced Metering Infrastructure (AMI) Market Expected to Reach $52.4 Billion by 2030

WILMINGTON, DELAWARE, UNITED STATES, February 21, 2024 /EINPresswire / -- 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 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.

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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 responses 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.

The global advanced metering infrastructure market is segmented into product type, end-user, and region.

Based on 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).

Based on smart metering devices, the electricity segment accounted for the largest share in 2020, while the water segment is projected to grow at the highest CAGR of 14.0%.

Based on the solution, the software segment accounted for the largest share in 2020 and is projected to grow at the highest CAGR of 12.2%.

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Competitive Analysis:

The Advanced Metering Infrastructure (AMI) industry's key market players adopt various strategies such as product launch, product development, collaboration, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.

Some of the major key players in the global Advanced Metering Infrastructure (AMI) Market include,

SENSUS
EATON CORPORATION PLC.
Echelon Corporation
Itron Inc.
IBM Corporation
Landis+Gyr
Cisco Systems, Inc.
Dynosonic
SIEMENS ENERGY
GENERAL ELECTRIC

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Based on 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 Communication (PLC) and RF-Mesh as the primary communication technologies driving AMI adoption.

End-users of advanced metering infrastructure include 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, 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%.

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Key Findings Of The Study:

- Based on smart metering devices, the electricity segment emerged as the global leader by acquiring more than 56.9% of the market share in 2020 and is anticipated to continue this trend during the forecast period.
- Based on solution, the software segment emerged as the global leader by acquiring more than 81.4% of the market share in 2020 and is anticipated to continue this trend during the forecast period.
- Based on service, the program consulting segment emerged as the global leader by acquiring more than 56.9% of the market share in 2020 and is anticipated to continue this trend during the forecast period.
- By end-user, the supplements segment accounted for 50.8% of the global advanced metering infrastructure market share in FY2020.
- Region-wise, Europe is the major consumer of advanced metering infrastructure. It accounted for around 45.0% of the global market share in 2020.

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