[Latest Report] Meter Data Management System Market Size Worth USD 2,891.7 million by 2027 at a 14.4% CAGR: Custom Market Insights (Share Report Trends Forecast Trends Segmentation)

The meter data management system market expected to grow from US$ 983.3 million in 2019 to US$ 2,891.7 million by 2027; it is estimated to grow at a CAGR of 14.4% from 2019 to 2027.

Meter data management system, is majorly used across the globe owing to the ability to provide timely reading, automating metering, and producing fine-grained data. The systems collect utility consumption data at a time interval, usually every 15 minutes or hourly. Meter data analytics systems are an ICT-based platform for analyzing the collected meter readings, which has become an indispensable part of utilities running the smart grid. The data is then used to generate various analytics, including constant consumption, meter to cash, negative consumption, abnormal consumption, others these reports help the client to get deep insights on utility consumption patterns and trends.

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The major players operating in the market for meter data management system market are ABB Ltd., Aclara Technologies LLC, Diehl Metering GmbH, Eaton Corporation, Honeywell International, Inc., Itron Inc., Kamstrup A/S, Landis+Gyr Group AG, Schneider Electric SE, and Siemens AG among others.

The meter data management system market has been derived from market trends and revenue generation factors from five different regions across the globe namely; North America, Europe, Asia Pacific, MEA, and SAM. The North America region holds the highest market share, whereas South America is projected to be the fastest-growing region as well in the coming years. The APAC region consists of many developing countries which experiences continuous growth in the oil & gas, electronics industry. The region is expected to grow at ~5-6% this year and accounts for the two-thirds of global growth.

Rapid urbanization and industrialization is leading to the increase in oil and gas, energy, and other commodity demands in the region. Oil and gas consumption in APAC amounts to close to 25% of the global supply, whereas 45% of the coal and 10% of the global natural gas in consumed in APAC. Above-mentioned growing industries has a potential to boost the business of meter data management system market.

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Global Meter Data Management System Market - By Offering
• Software
• Services

Global Meter Data Management System Market - By Utility Type
• Gas
• Water
• Electricity

Global Meter Data Management System Market - By Application
• Smart Grid
• Microgrid
• Energy Storage
• EV Charging
• Others

Global Meter Data Management System Market - By End-user
• Residential
• Commercial
• Industrial

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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