According to the report by Expert Market Research (EMR), the global advanced metering infrastructure market size is projected to grow at a CAGR of 14.2% between 2024 and 2032. Aided by the increasing emphasis on energy efficiency and smart grid initiatives, the market is expected to grow significantly by 2032.
Advanced Metering Infrastructure, a pivotal component in modern energy management systems, encompasses an integrated system of smart meters, communication networks, and data management systems. It enables two-way communication between utilities and customers, providing real-time data on energy usage and facilitating efficient energy management.
The advanced metering infrastructure market growth is driven primarily by the rising demand for improved grid management and the need for accurate energy billing. The adoption of AMI systems allows utilities to enhance operational efficiencies, reduce energy theft, and manage peak load demand effectively.
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Another significant factor fuelling the market is the growing focus on reducing carbon emissions and promoting sustainable energy practices. AMI systems play a crucial role in integrating renewable energy sources into the grid and promoting energy conservation among consumers.
Technological advancements in communication and data analytics are also contributing to the advanced metering infrastructure market size. The integration of IoT and AI in AMI systems has enabled more sophisticated data analysis and decision-making, enhancing grid reliability and customer service.
The market is further bolstered by government initiatives and regulatory policies supporting smart grid and smart meter deployments. Several governments across the globe have been implementing policies and providing incentives to encourage the adoption of AMI, which in turn is propelling advanced metering infrastructure market demand.
The market is categorised based on components, including hardware (smart meters), software, and services. Smart meters are the largest segment, driven by the widespread replacement of traditional meters with smart meters.
Geographically, the advanced metering infrastructure market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. North America is a leading market for AMI, owing to the early adoption of smart grid technologies and supportive government policies. However, the Asia-Pacific region is witnessing rapid growth due to increasing energy demand and the ongoing modernisation of utility infrastructure in countries like China and India.
Advanced Metering Infrastructure Market Segmentation
The market can be divided based on type, end use, and region.
Market Breakup by Type
- Smart Meters
- Meter Communication Infrastructure
- Data Management
- Services
Market Breakup by End Use
- Residential
- Commercial
- Industrial
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Advanced Metering Infrastructure Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global advanced metering infrastructure market. Some of the major players explored in the report by Expert Market Research are as follows:
- Itron Inc.
- IBM Corporation
- Landis+Gyr
- Sensus Solutions
- Siemens AG
- Others
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