Meter data management system Market Recent Trends, In-depth Analysis, Market Size Research Report Forecast up to 2027

Geographically, the meter data management system market is segmented into North America, APAC, Europe, MEA, and SAM. North America led the meter data management system market in 2018 with a significant market share and is anticipated to continue its dominance in the coming years to during the forecast period. with the increasing number of connected elements of the power grid to the internet, concerns regarding cyber-attacks have increased that may hinder smart grid progress. In 2018, the Canadian government announced a US$ 76 Mn call for bids to fund smart grid systems. Investments resulting from this call for bids will support bigger-scale demonstrations of encouraging near-commercial smart grid technologies as well as the installation of smart grid integrated systems for reducing greenhouse gas emissions.

Europe is the second-largest market in the meter data management system market. Apart from North America and Europe, APAC remains at the third-largest geographic segment in the meter data management system market. In APAC, countries such as China, Thailand, Singapore, and South Korea, are noticing increasing adoption of EVs, which is accelerating the number of EV charge stations. In 2019, Royal Dutch Shell launched EV chargers at petrol stations in Singapore. Such initiatives are expected to bolster the adoption of meter data management system systems across the region.

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The business or household equipped with a smart meter is enabled to monitor its electricity usage and make adjustments that reduce overall usage. They also help in shifting usage to non-peak hours when rates are lower. This is an advantage for the utility, as the low demand during peak hours decreases the amount of electricity it needs to generate at maximum cost, and limits the new capital investments. This factor is subsequently anticipated to encourage the meter data management system market growth during the forecast period.

Leading Key Players:

1.ABB Ltd.
2.Aclara Technologies LLC
3.Diehl Metering GmbH
4.Eaton Corporation
5.Honeywell International, Inc.
6.Itron Inc.
7.Kamstrup A/S
8.Landis+Gyr Group AG
9.Schneider Electric SE
10.Siemens AG

With the increasing population, the demand for utility consumption is expected to increase exponentially. A city’s utility management systems and distribution channel are expected to be viable over a longer period of in order to maintain growth consistently. They should also be integrated with technologies that are capable to monitor and check utility loss issues. The government of various countries are adopting the momentum of smart cities thereby, investing in the development of internet infrastructure in the countries with an aim to bring robust urbanization. The aforesaid factor is expected to provide huge benefits to the companies providing this system and thus, positively impacting the meter data management system market.

The global meter data management system market by offering is segmented into software and services. The software segment dominated the meter data management system market heavily and is projected to continue its dominance throughout the forecast period from 2019 – 2027. the meter data management system offers the major benefits to the utilities, such as improved data consistency & accuracy across systems, optimized performance throughout meter to cash operations, as well as supports grid modernization initiatives comprising smart meter programs.

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TOC points of the market report:

• Market size & stocks
• Market trends and dynamics
• Market drivers and opportunities
• Competitive landscape
• Supply and demand
• Technological inventions in the industry
• Marketing channel development trend
• Market positioning
• Pricing strategy
• Brand strategy
• Target client

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This release was published on openPR.