Press release
Smart Meter Data Management Market Growth Analysis, Trends, Share, Market Size And Forecast To 2033
Smart Meter Data Management Market
According to The Business Research Company's, 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 growth in the historic period can be attributed to increasing energy demand, government initiatives promoting energy efficiency, rising awareness among utilities and growing adoption of renewable energy sources.
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%. The growth in the forecast period can be attributed to initial high costs, concerns over data privacy, resistance from traditional utility models, limited interoperability, and regulatory challenges. Major trends in the forecast period include increasing integration of advanced analytics, expansion of smart meter deployments, emergence of cloud-based solutions, growing emphasis on demand response programs and energy efficiency initiatives, and evolution towards advanced metering infrastructure (AMI) solutions.
Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/smart-meter-data-management-global-market-report
Market Drivers and Trends:
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.
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.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=14999&type=smp
Major Key Players of the Market:
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
Smart Meter Data Management Market 2024 Key Insights:
• 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%.
• Increasing Energy Demand Driving Growth Of Smart Meter Data Management Market
• Advancements In Smart Meter Data Management Market
• North America was the largest region in the smart meter data management market in 2023
We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/customize?id=14999&type=smp
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Smart Meter Data Management Market Growth Analysis, Trends, Share, Market Size And Forecast To 2033 here
News-ID: 3694764 • Views: …
More Releases from The Business Research Company
Leading Companies Reinforce Their Presence in the Blanket Market
The blanket market is steadily gaining traction as consumers increasingly seek comfort and style in their home essentials. With evolving preferences and technological advancements, this sector is set to experience consistent growth. Let's explore the current market value, key players, emerging trends, and the main segments fueling this expansion.
Forecasted Blanket Market Size and Growth Trajectory
The blanket market has seen consistent growth over recent years. From a market size…
Global Trends Review: The Rapid Evolution of the Sporting and Athletic Goods Mar …
The sporting and athletic goods market is experiencing steady growth, driven by evolving consumer preferences and technological advancements. As health and wellness continue to gain importance globally, this market is set for notable expansion in the coming years. Let's explore the current market size, key factors fueling its growth, leading companies, major trends, and segmentation details.
Forecast for Sporting and Athletic Goods Market Size Through 2029
The sporting and athletic…
Train Seat Market Overview, Key Growth Factors, and Insights on Top Players
The train seat industry is experiencing notable growth, driven by advancements in technology and increasing demand for improved passenger comfort. As rail travel evolves, so does the need for innovative, efficient, and adaptable seating solutions that cater to modern requirements. Let's explore the current market status, key players, trends, and segments shaping the future of train seating.
Train Seat Market Size and Growth Expectations
The train seat market has seen…
Leading Companies Solidifying Their Presence in the Spunbond Nonwovens Market
The spunbond nonwovens industry has been experiencing notable growth and shows promising prospects for the coming years. This expanding market is being driven by several innovations and increasing demand across diverse sectors, signaling a robust future.
Projected Growth and Market Size of the Spunbond Nonwovens Market
The spunbond nonwovens market has demonstrated solid expansion recently, with its size expected to rise from $15.57 billion in 2024 to $16.59 billion in…
More Releases for Meter
Smart Meter Market Set for Explosive Growth| Secure Meter, Kamsturp, Itron
Market Research Forecast published a new research publication on "Smart Meter Market" with 230+ pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Smart Meter market was mainly driven by the increasing R&D spending across the world. Some of the key players profiled in the study…
Flow Meter Market Looks Ready For Takeoff: ABB, Badger Meter, Flexim
The Latest Released Global Flow Meter market study has evaluated the future growth potential of Global Flow Meter market and provides information and useful stats on market structure and size. The report is intended to provide market intelligence and strategic insights to help decision-makers take sound investment decisions and identify potential gaps and growth opportunities. Additionally, the report also identifies and analyses changing dynamics, and emerging trends along with essential…
Ultrasonic Water Meter Market Ultrasonic Water Meter Market
The proposed Ultrasonic Water Meter Market report will encompass all the qualitative & quantitative aspects including the market size, market estimates, growth rates & forecasts & hence will give you a holistic view of the market. The study also includes detailed analysis of market drivers, restraints, technological advancements & competitive landscape along with various micro & macro factors influencing the market dynamics.
The Ultrasonic Water Meter Market sample report…
Water Meter Market 2021 Growing Demand, Size and Business Outlook- Ningbo Water …
MarketInsightsReports, a leading global market research firm, is pleased to announce its new report on Water Meter market, forecast for 2021-2027, covering all aspects of the market and providing up-to-date data on current trends.
The Water Meter Market report provides the overall structure and business outlook of the global and regional industries. The study also involves the important Achievements of the market, Research & Development, new product launch, product responses, and…
Smart Gas Meter Market Outlook 2017- Trilliant, Sensus, Billion, Wasion, Meter I …
A market study ” Global Smart Gas Meter Market ” examines the performance of the Smart Gas Meter market 2017. It encloses an in-depth Research of the Smart Gas Meter market state and the competitive landscape globally. This report analyzes the potential of Smart Gas Meter market in the present and the future prospects from various angles in detail.
The Global Smart Gas Meter Market 2017 report includes Smart Gas Meter…
Global Smart Meter Market (Electricity, Gas, Water): By Type - Smart Electricity …
MarketResearchReports.Biz adds “Global Smart Meter Market 2011 Share, Size, Trends and Forecast to 2022 Market Research Report” reports to its database. This report provides a strategic analysis of the Smart Meter market and the growth estimates for the forecasted period.
Global rise in energy demand along with the emerging trends in smart grid technologies, integration, and advanced infrastructure along with IoT (Internet of Things) has led to the growth of Smart…
