According to a new published report by Allied Market Research titled, “Advanced metering infrastructure Market by Product Type and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global advanced metering infrastructure market size was valued at $17.1 billion in 2020, and is projected to reach $52.4 billion by 2030, growing at a CAGR of 12.0% from 2021 to 2030.
Advanced metering infrastructure (AMI) is a communication architecture that allows a smart utility meter with an IP address to communicate with a utility provider in an automatic, two-way manner. AMI is seen as an important part of any smart grid initiative. The goal of an AMI is to offer utility companies with real-time data about power consumption and allow customers to make informed choices about energy usage based on the price at the time of use.
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The growth of the Advanced Metering Infrastructure (AMI) Market is driven by several key factors:
- Rising Demand for Energy Efficiency
- Utilities and consumers are increasingly focused on improving energy efficiency. AMI systems provide detailed data, enabling better management and optimization of energy consumption.
- Growing Adoption of Smart Grids
- AMI is a critical component of smart grid infrastructure, enabling real-time data collection and communication between utilities and consumers, which enhances grid reliability and performance.
- Government Initiatives and Regulations
- Many governments are pushing for the adoption of smart metering technologies through regulations and incentives to promote energy conservation, sustainability, and carbon reduction. These regulations create a favorable market environment for AMI.
- Increasing Focus on Renewable Energy Integration
- AMI systems help manage the fluctuating nature of renewable energy sources like solar and wind. By offering real-time data on energy consumption and generation, AMI facilitates better integration of renewables into the grid.
- Technological Advancements in IoT and Connectivity
- Advancements in the Internet of Things (IoT) and communication technologies (e.g., 5G) are driving the expansion of AMI systems, enabling more efficient data collection and processing, as well as better communication between smart meters and central systems.
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Key trends shaping the AMI landscape:
- Technological Advancements
- Smart Metering Devices: The integration of smart meters enables real-time data collection, enhancing grid management and energy efficiency.
- IoT Integration: The proliferation of Internet of Things (IoT) technologies facilitates seamless communication between devices, improving system reliability and performance.
- Regional Growth Dynamics
- North America: The region is a significant contributor to the AMI market, with substantial investments in smart grid technologies.
- Asia-Pacific: Countries like China and Japan are expanding their AMI infrastructure, driven by urbanization and technological adoption.
- Europe: The European market is witnessing growth due to regulatory support and a focus on sustainable energy solutions.
- Consumer-Centric Solutions
- Smart Homes: The rise of smart home technologies is propelling the demand for AMI solutions, allowing consumers to monitor and manage energy consumption effectively.
- Dynamic Pricing: AMI systems support time-based rate plans, enabling consumers to optimize energy usage and reduce costs.
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The global advanced metering infrastructure market is segmented into product type, end-user, and region. Region wise, the advanced metering infrastructure market is studied across North America, Europe, Asia-Pacific, and LAMEA. Europe garnered the largest share of the market in 2020, while the Asia-Pacific segment is projected to be the fastest growing segment at a CAGR of 13.1%.
The global advanced metering infrastructure industry is consolidated in nature with a few players such as Itron, Eaton Corporation, Echelon Corporation, Siemens AG, General Electric, Cisco Systems, Inc., IBM Corporation, Dynosonic, Schneider Electric SE, and Sensus, which hold significant share of the market. These players have been adopting various strategies to gain higher share or to retain leading positions in the market.
Key Findings Of The Study
- On the basis of smart metering device, the electricity segment emerged as the global leader by acquiring more than 56.9% of the market share in 2020, and is anticipated to continue this trend during the forecast period.
- On the basis of solution, the software segment emerged as the global leader by acquiring more than 81.4% of the market share in 2020, and is anticipated to continue this trend during the forecast period.
- On the basis of service, the program consulting segment emerged as the global leader by acquiring more than 56.9% of the market share in 2020, and is anticipated to continue this trend during the forecast period.
- By end-user, the supplements segment accounted for 50.8% of the global advanced metering infrastructure market share in FY2020.
- Region wise, Europe is the major consumer of advanced metering infrastructure. It accounted for around 45.0% of the global market share in 2020.
