According to a new report by Reports and Data, the global advanced metering infrastructure market is expected to reach USD 27.32 billion by 2028. This market is witnessing continuous growth due to its effectiveness in providing various essential functions that were previously performed manually or not possible earlier. Advanced metering infrastructure (AMI) is an integrated system of communications networks, data management systems, and smart meters that enables two-way communication between customers and utility providers.

One of the key advantages of AMI is that it allows for remotely measuring electric use, disconnecting and connecting services, isolating outages, and detecting tampering, among other functions. Additionally, AMI provides customers with technologies like programmable communicating thermostats and in-home displays, as well as enabling utilities to provide new time-based rate programs and incentives. These facilities encourage customers to minimize wastage of energy and efficiently manage their consumption and costs.

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Top 10 Companies Operating in the Global Keyword Market:

IBM Corporation, Cisco Systems, Inc., General Electric Corporation, Aclara Technologies LLC., Itron Inc., Schneider Electric SE, Elster Group GmbH, Trilliant Inc., Sensus and Tieto Corporation.

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The global market is further segmented into type and application:

• Component Type Outlook (Revenue, USD Billion; 2020-2028)
• Meter
• Collector
• Head-end System
• Communication infrastructure
  • Neighborhood Area Network
  • Wide Area Network
  • Home Area Network
• Others

Product Type Size Type Outlook (Revenue, USD Billion; 2020-2028)

• Two-way smart meters
• Communication Modules

Solution Type Outlook (Revenue, USD Billion; 2020-2028)

• Meter Data Analytics
• Meter Data Management
• Meter Communication Infrastructure
• Advanced Metering Infrastructure Security

Service Type Outlook (Revenue, USD Billion; 2020-2028)

• Meter Deployment
• System Integration
• Program Management and Consulting

End-user Type Outlook (Revenue, USD Billion; 2020-2028)

• Commercial
• Residential
• Industrial

Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.

• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
• Latin America (Brazil, Rest of LATAM)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Further key findings from the report suggest

·       The AMI market held a market share of USD 9,159.7 Million in the year 2020 and forecasted to grow at a rate of 15.1% during the forecast period.

·       In regards to Product Type, the Communication Modules segment can be seen to witness a faster growth rate of 16.4% during the forecast period, which is expected to occupy 35.0% of the market by 2028. The growth rate experienced by the segment is resultant of rising demand for remotely managing metering mechanisms that can be effectively performed by communication modules, which helps in collecting information in real-time. 

·       In the context of the Service, the Meter Deployment segment held the largest market share of 38.0% in 2020, with a growth rate of 15.3% during the forecast period. A meter is an essential component of the infrastructure; expansion of the market would result in elevating the demand for its deployment, which contributes to the market share occupied by this segment.

·       In regards to the End-user, the Commercial segment occupies the largest market share of 48.0% in 2020, with a growth rate of 14.8% during the forecast period. The rise in the number of smart buildings for commercial use and elevated emphasis on the effective use of energy in these buildings contributes to the market share occupied by this segment.

·       In context to region, Asia Pacific is projected to witness the fastest growth rate of 16.0% during the forecast period, which is expected to occupy 25.5% of the market by 2028. The growth rate experienced by the region is attributed to its digital transformation and increasing awareness about sustainable use of resources.

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