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U.S. Smart Meter Data Management Market Next Big Thing | Prominent Companies - Itron, Arad Group, Enoro
U.S. Smart Meter Data Management Market
The U.S. Smart Meter Data Management Market Share was valued at $176.56 million in 2018, and the U.S. smart meter data management market forecast is projected to reach $556.94 million by 2026, growing at a CAGR of 15.54% from 2019 to 2026.
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Smart meters are next-generation metering devices that are used to obtain energy consumption feedbacks, monitor, manage, and send these feedbacks to the billing management system. The smart meter data management system gathers data from analog & smart meter, aggregates & validates the data, and calculates the billing determinants. Numerous benefits associated with smart meter data management include consolidation of large volume of data in one system, handling all the analog & interval data and similarly facilitating new customer offerings such as providing detail information about customer's energy consumption.
Growth in demand for smart meters across the U.S. region to efficiently use energy sources and monitor energy consumptions drive the U.S smart meter data management market growth. Further, supportive rules and regulations for energy consumption, as well as initiatives undertaken by the governing bodies of the nation, boosts the demand for smart meter data management products. However, the high cost of these meters and management of high volumes of data can be concerning factors that impact the market development. Nevertheless, increase in volume of meter data and high demand for predictive analysis are expected to offer considerable growth opportunities for the smart meter data management market.
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Competitive Analysis:
The competitive environment of U.S. Smart Meter Data Management Industry is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, U.S. Smart Meter Data Management Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.
Key Players:
Oracle Corporation
Arad Group
Trilliant Holdings, Inc.
Elster Group GmbH
Itron
Siemens AG
Aclara Technologies LLC
Enoro
ElectSolve Technology Solutions & Services, Inc.
Landis+Gyr and Many More
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Significant adoption of AI in smart meters has created lucrative opportunities for smart meter analytics in the U.S.
The electric gas meter segment is expected to garner significant share during the forecast period. The major factors driving the adoption of U.S. smart meter data management software in this sector include, increase in the demand for smart grids and energy across the U.S. and surge in electric vehicle & grid integration majorly drive the market growth. However, the water meter sector is expected to grow at a highest rate during the forecast period, owing to increase in government initiatives for installation of water meter data management across the U.S. to convert meter data into actionable insights.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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