PUNE, India, December 15, 2015 /PRNewswire/ --
According to a new market research report, "Advanced Metering Infrastructure Market by Devices (Smart Meters, Communication Modules), Solutions (Meter Data Management & Analytics, AMI Security, Meter Communication Infrastructure), Services, by Regions - Global Forecast to 2020", published by MarketsandMarkets, the global market size is expected to grow from USD 10.06 Billion in 2015 to USD 19.52 Billion by 2020, at an estimated Compound Annual Growth Rate (CAGR) of 14.2% during the forecast period.
Browse 39 market Tables and 53 Figures spread through 130 Pages and in-depth TOC on "Advanced Metering Infrastructure Market"
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Various benefits of AMI technology such as ability to detect outages and facilitation of real-time energy consumption patterns for end users are expected to create traction for the market in the next five years. The major drivers of this market includes increasing global energy demand, government mandates and legislative compliances, and need for improved customer service level and utility efficiency.
Increasing integration of IoT with Smart Grid to open major opportunities
The market size for AMI has considerably grown over the past few years and the emergence of disruptive technologies such as IoT and connected devices have further augmented the opportunity areas for AMI. With the emergence of connected devices such as home gateways, smart meters and smart plugs, innovative ways to manage and predict energy usage have come into picture. Increasing integration of IoT with smart grid opens major opportunities for the growth of the AMI Market. Inadequate financial incentives for utilities and interoperability issues and lack of standard interface are the major restraints of the overall growth of this market.
MDM solutions sub-market holds the most promising potential for next five years
The AMI Market has been segmented into solutions and services. AMI solutions can range from standalone AMI security, Meter Data Management (MDM), Analytics and Meter Communication Infrastructure (MCI) to integrated solutions where service providers can provide one stop end-to-end solutions to utilities. MDM solution sub-market is projected to grow with the highest growth rate and hence, will present largest market opportunity during the forecast period. AMI services are aimed at enabling smarter and coordinated decision-making by mitigating the risks and vulnerabilities of AMI infrastructure by the use of efficient tools and techniques. System integrators hold a major share in the AMI services segment.
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North America contributes maximum market share currently
North America is expected to have the largest market share and would dominate the AMI Market from 2015 to 2020, since rising demand for energy has forced utilities to upgrade the electric and distribution network. Latin America offers potential growth opportunities due to large-scale infrastructure development.
The major vendors covered in the AMI Market for this study include Alcara Technologies LLC, Cisco Systems Inc., Elster Group SE, General Electric, IBM Corporation, Itron Inc., Schneider Electric, Sensus, Teito Corporation, and Trilliant Inc.
MarketsandMarkets segments the Advanced Metering Infrastructure Market on the basis of Devices-communication modules, smart meters, gas meters, and water meters, Solutions-MDM, MCI, AMI analytics, and meter data analytics Services- program management, meter deployment, system integration, and Geography. A detailed analysis of the geographical markets has been done to provide insights into the potential future business opportunities in different regions.
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