What is Smart Meter Data Management Market?
Smart meter data management is a software package accustomed validate, store, and build pre-processed meter knowledge obtainable for upstreaming the business application. The sensible meter management system offers numerous benefits over the standard metering system, together with detection of energy stealing, estimate meter readings, and higher overall energy potency.
The market study is being classified, by Application (Residential, Commercial and Industrial) and major geographies with country level break-up.
Honeywell International Inc. (Elster Group GmbH) (United States), Landis+Gyr (Switzerland), Arad Groul (Israel), ElectSolve Technology Solutions & Services, Inc. (United States), Oracle Corporation (United States), Siemens AG (Germany), Eaton Corporation (Ireland), ABB Ltd (Switzerland), Trilliant Holdings, Inc. (United States) and Hansen Technologies Ltd (Enoro Holding A/S) (Norway) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Aclara Technologies LLC (United States) and Itron Inc (United States).
Segment Analysis
Analyst at AMA have segmented the market study of Global Smart Meter Data Management market by Type, Application and Region.
On the basis of geography, the market of Smart Meter Data Management has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2020. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- The rise in Penetration of Advanced Metering Infrastructure Technologies
- Increasing Demand for the Smart Homes and Corporate Offices
Market Trend
- Introduction of New Applications Which Rely on Data Such as Grid Optimization and Demand-Side Management
Restraints
- Data Management Issues due to Software Error
Opportunities
- Increase in Government Investment in Cloud-Based Smart Meter Data Management Software to Reduce Human Contact
Challenges
- High Installation Cost of Smart Meters
Market Leaders and some development strategies
In 2021, Technology giants Itron, a leader in power and energy technology, and Microsoft have partnered to make utilities take full advantage of advanced metering infrastructure (AMI) and data. This acquisition is aimed to develop highly scalable cloud-based meter data management services to help clients fully leverage data acquired from Advanced Meter Data Management and expand smart meter use cases.
In 2020, Itron, Inc., energy and water management, launched an interface software ISAIM 2.0 for the product Itron Enterprise Edition (IEE) Meter Data Management System (MDMS) version 10.0 has again achieved SAP certification as integrated with SAP S/4HANA. The integration helps utilities reduce the total cost of ownership and lower project implementation costs.
Key Target Audience
Smart Meter Data Management Provider, Software Developer, Government Bodies, Research Institutes, End-User Industry and Others