The global advanced metering infrastructure market is forecast to reach USD 27.32 Billion by 2028, according to a new report by Reports and Data. Advanced metering infrastructure (AMI) can be considered as an integrated system of communications networks, data management systems and smart meters that enables two-way communication between customers and utility providers. The market is witnessing continuous growth due to its effectiveness in providing various essential functions, which were needed to be performed manually or were not possible earlier. As an instance, remotely measuring electric use, disconnect and connect services, isolate outages, detect tampering among others are some of these functions possible with this infrastructure. One of the mentionable feature of this system is, it provides with customer technologies like programmable communicating thermostats and in-home displays along with enabling utilities to provide with new time-based rate programs and incentives. The presence of these facilities results in encouraging customers to minimize wastage of energy, efficiently manage the consumption and costs. Some of the other mentionable advantages of this infrastructure are, it increases profit percentage of water, gas, and utility companies by reducing the equipment and maintenance costs, enabling faster restoration of electric service at the time of outages. In regards to region, Europe can be seen to occupy a prominent market position. The market position held by the region is resultant of goals determines by European Union, like 80% of meters to be replaced with smart meters by 2020, which is elevating the demand for the infrastructure in this region.
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The advanced metering Infrastructure Security (AMI) offers notable operational benefits to the entire grid. One of its key advantages is the enhancement of accuracy in energy theft detection, meter reads, and response to power outages. By enabling real-time monitoring and remote management, AMI eliminates the need for on-site meter reading, streamlining operations and improving overall efficiency. These operational benefits contribute to the growth of the market.
In addition to operational benefits, AMI also provides financial advantages. The Infrastructure Security helps utility companies reduce losses due to energy theft by promptly detecting unauthorized usage, improving revenue collection, and ensuring accurate billing. The system's real-time data and analytics capabilities enable utilities to optimize energy distribution and load management, leading to cost savings and improved financial performance.
However, despite the numerous benefits associated with AMI, there are specific challenges that can impact the market's growth. One significant challenge is the high capital costs associated with the deployment of AMI. The implementation of the Infrastructure Security requires substantial investments in hardware and software components, including smart meters, communication networks, and data management systems. These upfront costs can pose financial barriers for some utilities and hinder the widespread adoption of AMI.
Furthermore, the integration of AMI into existing utility Infrastructure Security can be complex. The interoperability of various components, such as meters, communication protocols, and data management systems, requires careful planning and coordination. The complexities associated with integration can increase implementation costs and potentially delay the deployment of AMI systems.
Despite these challenges, the operational and financial benefits of AMI continue to drive the growth of the market. Ongoing advancements in technology, increasing awareness of the advantages of smart metering, and government initiatives supporting the deployment of AMI are expected to mitigate the challenges and further propel the adoption of advanced metering Infrastructure Security worldwide.
some leading companies operating in the global Advanced Metering Infrastructure 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 Security
- 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 Security
- Advanced Metering Infrastructure Security 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)
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