Smart Meter Data Management Global Market Set For Rapid Growth, To Reap Bulk Revenues, Application and Forecast to 2033 | Siemens AG, Oracle Corporation, ABB Group, Xylem Inc., EDMI Limited

"The new report published by The Business Research Company, titled ""Smart Meter Data Management Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the smart meter data management market size has grown rapidly in recent years. It will grow from $1.74 billion in 2023 to $2.08 billion in 2024 at a compound annual growth rate (CAGR) of 19.3%. The smart meter data management market size is expected to see rapid growth in the next few years. It will grow to $4.25 billion in 2028 at a compound annual growth rate (CAGR) of 19.6%.

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Increasing Energy Demand Driving Growth Of Smart Meter Data Management Market
An increase in energy demand is expected to propel the growth of the smart meter data management market going forward. Energy refers to the capability to perform tasks, observed in diverse forms such as heat, light, movement, or electricity. The rising energy demand is due to greater energy demand as cities become hubs for electricity-dependent activities such as transportation, heating, cooling, and the use of electronic devices. Smart meter data management aids in optimizing energy usage and improving grid efficiency through the provision of valuable insights into consumption patterns, facilitating informed decision-making processes. For instance, in July 2021, according to the International Energy Agency, a France-based intergovernmental organization, global electricity demand is projected to increase by nearly 5% in 2021 and 4% in 2022. With current policy frameworks and economic trajectories, the generation of electricity from renewable sources, encompassing hydropower, wind, and solar photovoltaics (PV), is expected to experience robust growth worldwide over the next two years, expanding by 8% in 2021 and over 6% in 2022. Therefore, an increase in energy demand is driving the growth of the smart meter data management market.

Advancements In Smart Meter Data Management Market
Major companies operating in the smart meter data management market are focused on developing innovative products such as Stratus IQ+ electric meter, to gain a competitive edge in the market. Stratus IQ+ electric meter is designed to provide utilities with enhanced data visibility and control needed to adapt to the evolving smart grid environment. For instance, in December 2023, Xylem, a US-based water solutions and technology company specializing in data and technology, launched the Stratus IQ+ electricity meter with grid-edge capabilities. The innovative metering solution, the Stratus IQ+, aims to provide utilities with enhanced data collection capabilities, enabling the analysis of customer EV charging behaviors. This meter allows for near-real-time monitoring of energy consumption, making it easy to record, transmit, and receive data efficiently. With features such as software-defined metrology, the Stratus IQ+ offers flexibility and reliability, enhancing operational efficiency and empowering utilities to make informed decisions for contemporary grid management needs.

The smart meter data management market covered in this report is segmented -
1) By Component: Software, Services
2) By Deployment Mode: On-Premise, Cloud
3) By Application: Electric Meters, Gas Meters, Water Meters

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Major companies operating in the smart meter data management market are Siemens AG, Oracle Corporation, Schneider Electric SE, Honeywell International Inc., ABB Group, Xylem Inc., El Sewedy Electric Company, Itron Inc., Landis+Gyr Group AG, Secure Meters Ltd., Wasion Group Holdings Limited, Holley Metering Limited, Jiangsu Linyang Electronics Co. Ltd., Badger Meter Inc., Aclara Technologies LLC, Neptune Technology Group Inc., EDMI Limited, Circutor S.A., Kamstrup A/S, Genus Power Infrastructures Limited, Nuri Telecom Company Limited, Zenner International GmbH & Co. KG, Iskraemeco d.d., Trilliant Holdings Inc., Elster Group GmbH

Contents of the report:
1. Executive Summary
2. Smart Meter Data Management Market Report Structure
3. Smart Meter Data Management Market Trends And Strategies
4. Smart Meter Data Management Market - Macro Economic Scenario
5. Smart Meter Data Management Market Size And Growth
…..
27. Smart Meter Data Management Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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