02-11-2019 06:58 PM CET - IT, New Media & Software
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Smart Meter Data Management Market by 2023 with Key players Oracle Corporation, Arad Group, Trilliant Holdings Inc., Elster Group

Press release from: Allied Market Research

The smart meter data management market is in its growth phase, and is expected to grow at a CAGR of 16.4% during the forecast period. China is one of the most dominant region across the globe in terms of meter shipments; while U.S. is the largest contributor in the world by revenue. The growing penetration of smart metering technology, increase in the meter data volume across the globe, and high investments from the governing bodies in the energy sector is expected to drive the growth in the global meter data management industry.

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The global smart meter data management market was valued at $661.1 million in 2016 and is projected to reach $1,896.3 million by 2023, growing at a CAGR of 16.4% from 2017 to 2023. The services market for smart meter data management is anticipated to witness the highest growth rate during the forecast period.

North America generated the highest revenue in the global smart meter data management market in 2016 due to its high population and the U.S. is the largest market for smart metering. The LAMEA smart meter data management market size is expected to grow at the highest CAGR during the forecast period. High investments from the governing bodies, supportive regulations, and policies regarding smart metering technologies, and the booming energy industry is expected to drive the growth of the smart meter data management market in the LAMEA region.

The software segment contributed the highest share in 2016. This segment accounted for 69.3% in 2016, and is projected to grow at the CAGR of 16.1% during the forecast period. However, the smart meter data management market for services segment is projected to grow at the highest rate of 17.3%.

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Meter data management systems market for electric application generated maximum share of revenue in 2016 and is expected to dominate the market throughput the forecast period at the CAGR of 14.8%. While, gas application segment is expected to grow at the highest CAGR during the forecast period.

The report features a competitive scenario of the global smart meter data management industry and provides a comprehensive analysis of key growth strategies adopted by major players. The key players profiled in the study are include Oracle Corporation, Arad Group, Trilliant Holdings, Inc., Elster Group GmbH, Itron, Siemens AG, Aclara Technologies LLC, Enoro, ElectSolve Technology Solutions & Services, Inc., and Landis+Gyr. These players have adopted competitive strategies, such as geographical expansions, mergers & acquisitions, new product launches, and partnerships & collaborations, to augment the growth of the smart meter data management market.

Smart Meter Data Management Market: www.alliedmarketresearch.com/press-release/smart-meter-da...

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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 domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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