(MENAFN- IMARC Group) IMARC Group's report titled “Advanced Metering Infrastructure (AMI) Market Report by Product Type (Smart Metering Devices, Solutions, Services), End User (Residential, Commercial, Industrial), and Region 2024-2032” . The global advanced metering infrastructure ami market size reached US$ 23.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 64.4 Billion by 2032, exhibiting a growth rate (CAGR) of 11.7% during 2024-2032.

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Factors Affecting the Growth of the Advanced Metering Infrastructure (AMI) Industry:

• Technological Advancements and Smart Grid Integration:

Continuous developments in technology and increasing adoption of smart grid projects globally are driving the growth of the market. Technological advances facilitate advanced communications capabilities, allowing utilities to improve the efficiency, reliability, and stability of electric services. The integration of advanced metering infrastructure (AMI) with the smart grid enables real-time data collection and analysis, leading to optimized energy distribution, lower operating costs and better outage management. Furthermore, this integration supports the transition to renewable energy sources by efficiently managing distributed energy resources, thereby promoting a sustainable energy ecosystem.

• Regulatory Support and Environmental Policies:

Governments around the world are implementing regulations and policies that mandate the use of advanced metering systems to increase energy efficiency and reduce carbon footprint. These regulatory frameworks are designed to encourage the adoption of AMIs by setting standards and deadlines for utility compliance, thereby having a significant impact on market growth. Policies often come with incentives or penalties, motivating utilities to immediately upgrade their metering infrastructure. Additionally, environmental concerns are leading governments to focus on reducing energy consumption and waste, for which AMI systems are important. They enable detailed energy usage monitoring, promote energy conservation, and facilitate the integration of renewable energy sources.

• Demand for Improved Customer Engagement and Utility Efficiency:

The growing demand for better customer engagement and increased operational efficiency of utilities is offering a favorable market outlook. AMI systems provide people with detailed, real-time information about their energy use, empowering them to make informed decisions about their consumption patterns, which can lead to cost savings and more sustainable energy use. For utilities, AMI provides comprehensive insight into grid operations, enabling proactive maintenance, efficient resource allocation and quick response to outages. Data collected through AMI systems facilitates advanced analytics, which can uncover patterns, predict demand, and optimize energy delivery. This level of detailed information and better control over the energy distribution network significantly increases customer satisfaction and operational efficiency.

Leading Companies Operating in the Global Advanced Metering Infrastructure AMI Industry:

• 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
• Trilliant Holdings Inc.

Advanced Metering Infrastructure (AMI) Market Report Segmentation:

By Product Type:

• Smart Metering Devices
  • Electricity
  • Water
  • Gas
• Solutions
  • Meter Communication Infrastructure
  • Software
• Services
  • System Integration
  • Deployment
  • Program Consulting

Smart metering devices represent the largest segment as they eliminate the need for manual meter readings, thereby reducing labor costs and minimizing human errors.

By End User:

• Residential
• Commercial
• Industrial

Residential exhibits a clear dominance in the market owing to the capability of advanced metering infrastructure (AMI) to provide detailed, real-time information about the energy usage of home owners.

Regional Insights:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Asia Pacific's dominance in the advanced metering infrastructure (AMI) market is attributed to the increasing focus on reducing electricity expenditure to lower the carbon footprint.

Global Advanced Metering Infrastructure (AMI) Market Trends:

AMI systems increase the resiliency of energy infrastructure by enabling utilities to rapidly detect, analyze and respond to various grid disturbances, thus reducing downtime and improving system reliability. AMI's sophisticated monitoring capabilities allow early detection of potential issues, facilitating pre-emptive maintenance and reducing the likelihood of unexpected infrastructure failure. Additionally, the increased visibility into the grid provided by AMI helps protect against cyber threats and physical tampering, thereby ensuring secure energy supply. The ability of AMI to contribute to the overall security and resilience of the energy grid is an important driver for its adoption, as it aligns with global priorities to increase energy reliability and reduce risks associated with energy supply disruptions.

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