Dublin, Jan. 21, 2020 (GLOBE NEWSWIRE) -- The "Global Smart Meter Data Management Market 2019-2027" report has been added to ResearchAndMarkets.com's offering.
The global smart meter data management market is forecast to exhibit a CAGR of 15.75% for the forecasting years 2019-2027.
A rapid increase in the adoption of smart meters, implementation of advanced metering technology, global energy demand, favorable government policies, and legislative compliances towards smart metering drive the overall smart meter data management market. Along with that, an increase in smart city initiatives is also fueling the market to grow. Smart meters help in accurately monitoring gas, water, and electricity usage and send the usage information data to the utility company. This results in effectively managing consumption and improving billing & customer service, which includes disconnection & reconnection of the service.
The high cost of installing smart meters is one of the factors hampering the market. Furthermore, costs related to services such as maintenance, upgradation, consulting, and integration are major restraints for the growth of the market. Problems while integration with smart meters, security concerns such as remote access and data protection, and unawareness among consumers are some of the market challenges for utility companies to gain a stronghold in the market.
The global smart meter data management market includes the regions of North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa.
The Asia-Pacific region offers the highest opportunities for the growth of the smart meter data management market in terms of revenue during the forecasted period. For instance, significant growth in the adoption of smart metering technology in East Asia and rapid growth in the Chinese market are the factors boosting the growth of the smart meter market. Countries like Myanmar and the Philippines are also expected to adopt advanced smart grids and other smart utility network components by focusing on upgrading & replacing outdated infrastructure and installing smarter power networks. This will allow them to leverage their energy consumption. The second wave of installing smart electricity meters is underway in China, and it is predicted that New Zealand, too, will witness the huge number of smart meter deployments.
Some of the prominent organizations in the smart meter data management market are Itron Inc., Landys+Gyr Group, Oracle Utilities (Opower), Siemens AG, Trilliant Holdings, Eaton Corporation, DIEHL, Schneider Electric, Kamstrup, and Sensus (XYLEM).
Key Topics Covered:
1. Global Smart Meter Data Management Market - Summary
2. Industry Outlook
2.1. Market Definition
2.2. Key Insights
2.2.1. Asia-Pacific is the Market Leader
2.3. Porter's Five Forces Analysis
2.4. Key Impact Analysis
2.4.1. Cost
2.4.2. Interoperability
2.4.3. Brand Name of the Company
2.5. Market Attractiveness Index
2.6. Vendor Scorecard
2.7. Market Drivers
2.7.1. Growth in Adoption of Smart Meters
2.7.2. Implementation of Advanced Metering Infrastructure On the Rise
2.8. Market Restraints
2.8.1. Integration Challenges
2.8.2. High Cost of Installation
2.9. Market Opportunities
2.9.1. Incentives and Support From Governments
2.10. Market Challenges
2.10.1. Security Concerns
3. Global Smart Meter Data Management Market Outlook - By Component
3.1. Software
3.1.1. Meter Data Management System
3.1.2. Meter Data Analytics
3.1.3. Communication Software
3.2. Service
3.2.1. Consulting
3.2.2. Project Management
3.2.3. Implementation & Integration
3.2.4. Other Support Services
4. Global Smart Meter Data Management Market Outlook - By Deployment Type
4.1. Cloud-Based
4.2. On-Premise
5. Global Smart Meter Data Management Market Outlook - By Application
5.1. Electric
5.2. Gas
5.3. Water
6. Global Smart Meter Data Management Market - Regional Outlook
7. Company Profiles
- Aclara Technologies Llc (Acquired By Hubbell Incorporated)
- Arad Group
- Electsolve Technology Solutions & Services, Inc.
- Elster Solutions (Acquired By Honeywell International Inc.)
- Enoro Ab (Acquired By Hansen Technologies)
- Itron Inc.
- Landis+Gyr Group
- Oracle Utilities (Opower)
- Siemens Ag
- Trilliant Holdings Inc.
- Eaton Corporation
- Diehl
- Schneider Electric Se
- Kamstrup
- Sensus (Xylem)
For more information about this report visit https://www.researchandmarkets.com/r/dp7nwu
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