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Advanced Metering Infrastructure Global Market Analysis, Trends, Growth, Research And Forecast 2033
Advanced Metering Infrastructure Global Market
As per the report, the advanced metering infrastructure market size has grown rapidly in recent years. It will grow from $16.37 billion in 2023 to $19.07 billion in 2024 at a compound annual growth rate (CAGR) of 16.5%. The advanced metering infrastructure market size is expected to see rapid growth in the next few years. It will grow to $35.43 billion in 2028 at a compound annual growth rate (CAGR) of 16.7%.
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Role Of Advanced Metering Infrastructure In Meeting Rising Power Demand In Urbanizing Nations
Increasing demand for power in urbanizing nations is expected to propel the growth of the advanced metering infrastructure market going forward. The demand for power in urbanizing nations refers to the increasing need for energy resources in countries that are experiencing rapid urbanization as more people move from rural areas to cities. The demand for power in urbanizing nations is driven by factors such as urbanization, industrialization, infrastructure development, and government initiatives. Advanced metering infrastructure plays a crucial role in managing the increasing demand for power in urbanizing nations by promoting energy efficiency, reducing peak demand, and enhancing the overall reliability and sustainability of the electricity grid. AMI enables electric utility providers to acquire precise information on energy usage, automate meter readings, and collect more data by providing insights into energy consumption trends. For instance, in January 2024, according to Exxon Mobil Corporation, a US-based oil and gas corporation, transportation-related energy demand is expected to grow by more than 30% from 2021 to 2050. Furthermore, in 2022, according to a report by the International Energy Agency (IEA), a France-based intergovernmental organization, world energy investment is set to rise over 8% in 2022 against 2021 to reach a total of $2.4 trillion. Therefore, the increasing demand for power in urbanizing nations is driving the growth of the advanced metering infrastructure market.
Next Generation Cellular Module (NXCM) Revolutionizing Advanced Metering Infrastructure (AMI)
Major companies operating in the advanced metering infrastructure market are developing innovative products leveraging advanced features, such as secure data encryption and remote management capabilities, to gain a competitive edge in the market. Secure data encryption and remote management capabilities are essential features of advanced metering infrastructure systems, providing protection against cyber threats, ensuring regulatory compliance, and enabling efficient remote operations and maintenance. For instance, in May 2023, Honeywell International Inc., a US-based conglomerate corporation, launched its Next Generation Cellular Module (NXCM), enabling Advanced Metering Infrastructure (AMI), a ground-breaking technology that converts traditional gas and water meters into smart meters without requiring extra infrastructure. It allows meters to be wirelessly connected through existing public cellular networks, enhancing monitoring, safety, and analytics capabilities for utility providers and their customers. The module is designed to modernize meter networks while minimizing costs, creating a smarter network without replacing the existing network. The NXCM is a flexible and scalable solution for utility providers of all sizes, with secure data transmission using advanced authentication techniques and AES-128 encryption to ensure utilities meet metering and data management regulatory standards.
The advanced metering infrastructure market covered in this report is segmented -
1) By Type: Solution, Services
2) By Meter Type: Water Meter, Electricity Meter, Gas Meter, Heat Meter
3) By Connectivity: Wired, Wireless
4) By End-User: Residential, Commercial, Industrial
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Major companies operating in the advanced metering infrastructure market are Hitachi Energy Ltd., Siemens AG, General Electric Company , Cisco Systems Inc., Mitsubishi Electric Corporation, Schneider Electric SE, ABB Ltd., Toshiba Corporation, Eaton Corporation plc, Alstom SA, Delta Electronics Inc., Renesas Electronics Corporation, Wabtec Corporation, Diehl Stiftung & Co. KG, Sagemcom SAS, Tietoevry Corporation, Itron Inc., Landis+Gyr AG, Holley Technology Ltd., CRRC Corporation Limited, Aclara Technologies LLC, Kamstrup A/S, Genus Power Infrastructures Ltd., ZENNER International GmbH & Co. KG, Sensus
Contents of the report:
1. Executive Summary
2. Advanced Metering Infrastructure Market Report Structure
3. Advanced Metering Infrastructure Market Trends And Strategies
4. Advanced Metering Infrastructure Market - Macro Economic Scenario
5. Advanced Metering Infrastructure Market Size And Growth
…..
27. Advanced Metering Infrastructure Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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