Meter Data Management Industry 2019 Growth Analysis, CAGR Status 2024

Posted by Anvi on November 22nd, 2019

Meter Data Management Market Research Report: Information by Component (Hardware & Software), by Utility Type (Electricity, Water & Gas), by Application (Smart Grid, Microgrid, Energy Storage, EV Charging and others), by End-Use (Residential, Commercial & Industrial) and by Region.

Global Meter Data Management Market Analysis

Meter data management is defined as a system that performs long-term data storage and management for huge quantities of data generated and delivered by smart metering systems.  A new report on the global meter data management market, published by Market Research Future (MRFR), claims that this market could witness an expansion at 20.24% CAGR between 2019 and 2024. By value, the market can be worth the USD 430 Mn by the end of the forecast period.

Meter data management is a solution for managing metered consumption data. Additionally, it also performs long-term data storage and management for huge quantities of data delivered by smart metering systems. It gathers, processes, and stores all types of data to help utilities deal with rising data volumes and succeed in a dynamic industry. 

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Prominent Players

Major players in the global meter data management market include ABB (Switzerland), Eaton (Ireland), Enoro (Finland), Honeywell (USA), Itron (USA), Kamstrup (Denmark), Landis+Gyr (Switzerland), Open Access Technology International Inc. (USA), Powel (Norway), Schneider Electric (France), Sensus (Xylem) (USA), and Siemens (Germany).

Global Meter Data Management Industry Segmentation

The global meter data management market segmentation covers application, component, end-use, and utility type.  MRFR’s take on the market allows an in-depth look into various facets of the market.

The application-based segmentation of this market covers energy storage, electric vehicle (EV) charging, microgrid, smart grid, and others. During the forecast period, the smart grid segment is expected to hold the dominating market share due to the increasing investments in smart grids.

Regarding component, the meter data management market has been segmented into hardware and software.

Based on end-use, the meter data management market has been segmented into residential, commercial, and industrial. During the forecast period, the residential segment can hold the dominating market share due to increasing smart meter implementations that are being mandated by governments, across the globe.

By utility type, the meter data management market has been segmented into electric, gas, and water.

Regional Outlook

The global meter data management market has been segmented into five regions, which are Asia-Pacific, North America, Europe, the Middle East & Africa, and South America.

In 2018, North America held the largest share of the global meter data management market, mainly due to the increasing installation of smart meters across the region. According to U.S. Department of Energy’s Smart Grid Investment Grant Program, there are few project announcements have been made with few scheduled deployments such as those by Consolidated Edison and Hawaiian Electric helping to sustain the presence of AMI activity.

The market in Europe is expected to be the second largest, owing to the increasing smart meter rollout in the major countries of the region, including Italy and Sweden. Italy and Sweden are the first European countries to begin the smart meter rollouts in the last decade.

Additionally, the majority of smart meter installations is likely to take place in France, Spain, and the UK, with significant contributions coming from Austria and the Netherlands. These smart meter installations in various countries in Europe present lucrative opportunities for the players operating in the meter data management market during the forecast period.

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