Increasing demand for modernization of grid and helpful steps taken by organizations across the globe for the replacement of traditional electronic meters accompanied by improved meters which are capable of furnishing enhanced data collection and meter reading are some of the most crucial factors driving the growth of global advanced metering infrastructure market. Moreover, introduction of dynamic pricing mechanisms coupled with demand response schemes are some motivational factors for the use of smart metering infrastructure. Also, demand response programs are generally considered as accelerators of growth in the global advanced metering infrastructure market. Advanced metering infrastructure is known as the integration of software, hardware as well as technologies which provide intelligent connections between end-to-end consumers. In addition, consumers participate in demand response programs, in turn, benefits in decreased electricity bills due to which electric distribution organizations will be able to reduce investments in new capacity infrastructures. Using bidirectional communication between the meter data management and meter, the electrical distribution organizations will be able to manage metering mechanisms remotely and thus collect required information in a real-time.
Recent advancements in the utility industry are anticipated to drive a vast range of systems with collections and water utilities. Several benefits of using advanced metering infrastructure technology including facilitation of real-time energy consumption patterns and ability to detect outages for end users are some major aspects projected to create traction in the global advanced metering infrastructure market in the foreseeable years. Other factors such as increasing demand for energy across the globe, legislative compliances and government mandates as well as demand for enhanced customer service and organizational efficiency are expected to propel the global advanced metering infrastructure market. Moreover, increasing integration of internet of things with smart grid solutions is a key factor anticipated to pose bright opportunities in the global advanced metering infrastructure market. Furthermore, installation of smart meters as a type of advanced metering infrastructure is expected to enable distribution of electric utilities to reduce overall operational expenses. Enhanced identification of theft of energy and outage notification are other important factors that are anticipated to boost the global advanced metering infrastructure market. However, lack of inter-operability standards, especially in developing economies, may hinder the growth of advanced metering infrastructure market. Also, declining cost of advanced metering infrastructure hardware is expected to inhibit the growth of global advanced metering infrastructure market.
The global advanced metering infrastructure market can be segmented on the basis of device, service, solution and region. On the basis of device, the global advanced metering infrastructure market can be segmented into smart water meters, smart gas meters, smart electric meters and communication modules. On the basis of service, the global advanced metering infrastructure market can be segmented into system integration, meter deployment and program management and consulting. On the basis of solution, the global advanced metering infrastructure market can be segmented into meter data management, meter data analytics, AMI security and meter communication infrastructure. Based on region, the global advanced metering infrastructure market can be segmented into North America, Latin America, Europe, Middle East & Africa and Asia-Pacific.
Key players involved in the manufacture of advanced metering infrastructure mechanisms include Cisco Systems Inc., lcara Technologies LLC, General Electric, Elster Group SE, Itron Inc., IBM Corporation, Sensus, Teito Corporation, Schneider Electric, Trilliant Inc., Silver Spring Network, Schneider Electric SA, Landis+Gyr, General Electric, Eaton Corporation Itron and Echelon Corporation among others.