Smart Meter Data Management Market Size Will Hit Big Revenues In Future | Eaton Corporation, ElectSolve Technology Solutions & Services, Hansen Technologies Ltd (Enoro Holding A/S), Honeywell International Inc. (Elster Group GmbH)

Smart meter data management refers to the process of gathering, storing, and managing massive volume of data from various smart metering systems such as water meter and gas meter. In addition, it helps organizations to gather, store, and process all types of data to help organizations to deal with increasing volume of data and provides useful information for obtaining better insights. Furthermore, smart meter data management software reduces human errors and provides real-time information about smart meters.

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Governmental organizations are boosting their maintenance budgets for system infrastructure while simultaneously funding initiatives for project development, modernization, and enhancement. As a result of the investments' success, ICT vendors now annually set aside funding for the growth of the online market. Global ICT exports are anticipated to increase 3.9% on average year from US$ 784.3 billion in 2021 to US$ 955.19 billion in 2030. Global supply has increased by 9.5% yearly since 2009. In terms of global ICT exports in 2021, Ireland came in first place with US$ 169. 32 billion. The rankings placed China at number 4, the United States at number 2, and India at number 3. Since 2009, Brunei has increased by 228.2% year over year, while Sierra Leone has decreased by 61.7% year over year.

By 2026, European ICT Revenue is likely to increase by 1.5% annually, from US$ 1,802,413 Million in 2021 to US$ 1,933,429 Million. The European market has increased by 3.1% annually since 2016. In terms of ICT Revenue in Europe in 2021, Germany came in first place with US$ 339,074 million. Positions 2, 3, and 4 in this ranking were held by the United Kingdom, France, and Ireland, respectively. Since 2016, Malta has increased by 16.5% year over year, while Italy has decreased by 0.2%.

In addition, this software provides different modules such as meter-to-cash system, workforce management system, asset management, and other systems, which help organizations to easily and quickly manage large quantity of smart meter datasets. Surge in adoption of smart meters across the globe and increase in adoption of advanced metering infrastructure technologies significantly boosts the growth of the global smart meter data management market. In addition, increase in need for both prescriptive & predictive analytics and rise in incentive & efforts by various government across the globe to adopt smart meter data management software positively impact the growth of the market. However, data management issues and high installation cost of smart meters are expected to hamper the market growth.

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On the contrary, upsurge in demand for smart meters and integration of artificial intelligence (AI) in smart meter data management systems are expected to offer remunerative opportunities for the expansion of the market during the forecast period. Each of these factors is projected to have a definite impact on the growth of the smart meter data management market. The global smart meter data management market is segmented into component, deployment model, application, and region. In terms of component, the market is fragmented into software and services. The software segment is further segmented into meter data management system (MDMS), meter data analytics (MDA), and communication software. Depending on deployment model, it is bifurcated into on-premise and cloud. On the basis of application, it is fragmented into electric meters, gas meters, and water meters. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of global smart meter data management market forecast along with the current trends and future estimations to elucidate the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on global market is provided in the report.
- Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the market from 2020 to 2027 is provided to determine the market potential.

KEY MARKET PLAYERS
- ABB Ltd
- Aclara Technologies LLC
- Arad Groul
- Eaton Corporation
- ElectSolve Technology Solutions & Services, Inc.
- Hansen Technologies Ltd (Enoro Holding A/S)
- Honeywell International Inc. (Elster Group GmbH)
- Itron Inc.
- Landis+Gyr.
- Oracle Corporation
- Siemens AG
- Trilliant Holdings, Inc.

Key Market Segments
By Component
- Software
o Meter Data Management System
o Meter Data Analytics
o Communication Software
- Service
o Consulting
o Project Management
o Implementation & Integration
o Others

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By Deployment Model
- On-premise
- Cloud

By Application
- Electric Meters
- Gas Meters
- Water Meters

By Region
- North America
o U.S.
o Canada
o Mexico
- Europe
o UK
o Germany
o France
o Russia
o Italy
o Spain
o Rest of Europe

- Asia-Pacific
o China
o India
o Japan
o Australia
o South Korea
o Rest of Asia-Pacific

- LAMEA
o Latin America
o Middle East
o Africa

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