Advanced Metering Infrastructure Market Revenues to Reach USD 28.22 billion by 2028 - Market Size, Share, Forecasts, & Trends Analysis Report by Mordor Intelligence

Hyderabad, July 13, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Advanced Metering Infrastructure Market Report (2023-2028)," the market is estimated at USD 15.48 billion in 2023. It is expected to register a CAGR of 12.76% during the forecast period.

Advanced metering infrastructure, or AMI, enables two-way communication between system operators and consumers to provide insight and control over energy usage while preventing energy theft. Smart meters offer valuable insights into energy usage and are integral to smart grid initiatives worldwide. Expanding and modernizing electricity infrastructure and significant investments in smart grids aim to achieve net-zero carbon emissions and foster collaboration between public and private organizations. A significant number of smart meters is anticipated to be installed by 2024 in Europe alone.

Report Summary:

Who are the Top Companies in the Global Advanced Metering Infrastructure Market?

The advanced metering infrastructure market is highly fragmented. There are lucrative opportunities in the market studied. The competitive rivalry among existing competitors is high.

The significant players in the global advanced metering infrastructure market in 2023 are:

• Itron Inc.
• IBM Corporation
• Landis+Gyr
• Sensus Solutions
• Siemens AG
• Tieto Corporation
• Aclara Technologies LLC
• Cisco Systems Inc.
• Mueller Systems LLC
• Trilliant Inc.
• Schneider Electric SE
• Honeywell International Inc.

Other Reports That Might Be of Your Interest:

• Global Smart Meters Market Report - The global smart meter market size in terms of shipment volume is expected to grow from 134.26 million units in 2023 to 186.82 million units by 2028 at a CAGR of 6.83% during the forecast period (2023-2028).
• Smart Gas Meter Market Report - The global smart gas meter market size in terms of shipment volume is expected to grow from 16.47 million units in 2023 to 23.87 million units by 2028, at a CAGR of 7.71% during the forecast period (2023-2028).

Key Highlights from the Global Advanced Metering Infrastructure Market Report:

Smart Metering Devices Poised to Gain Significant Market Share

• Smart meters are deployed for gas, electricity, and water. They allow real-time monitoring and remote control.
• Governments worldwide are investing in smart grids and meters to improve power networks.
• With advancements in software, cloud computing, and the Internet of Things (IoT), the segment is expected to grow in the coming years.

Notable Growth in North America

• North America is witnessing the fast-paced adoption of smart meters aided by favorable government initiatives. The United States already installed over 111 million advanced meters, and the number is only increasing.
• Canada is also incorporating smart electricity meters driven by peak-time load reduction mandates.

What are the Latest Developments in the Global Advanced Metering Infrastructure Market?

• In November 2022, Renesas Electronics Corp. began utilizing NanoLock Security, a solution that provides zero-trust meter-level cyber security protection for smart meter products.
• In October 2022, the Linux Foundation (LF) Energy announced the Super Advanced Meter (SAM), which focuses on a widely applicable smart meter data gateway.
  
  

Mordor Intelligence has Segmented the Global Advanced Metering Infrastructure Market Based on Type, End-User, and Geography.

• By Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
  • Smart Metering Devices (Electricity, Water, and Gas)
    • Solution
      • Meter Communication Infrastructure (Solution)
      • Software
        • Meter Data Management
        • Meter Data Analytics
        • Other Software Types
    • Services (Professional - Program Management, Deployment and Consulting and Managed)
      
      
• By End-user (Market Size and Forecast based on Value (USD billion), 2018-2028)
  • Residential
  • Commercial
  • Industrial
    
    
• By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa
    
    

In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Global Advanced Metering Infrastructure Market Report (2023-2028).

Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:

• Flow Meters Market Report - The global flow meters market size is expected to grow from USD 7.54 billion in 2023 to USD 10.32 billion by 2028 at a CAGR of 6.47% during the forecast period (2023-2028).
• Smart Electricity Meter Market Report - The global smart electricity meter market size in terms of shipment volume is expected to grow from 94.20 million units in 2023 to 122.88 million units by 2028 at a CAGR of 5.46% during the forecast period (2023-2028).
• Predictive Maintenance in the Energy Market Report - The global predictive maintenance in the energy market size is expected to grow from USD 1.42 billion in 2023 to USD 4.47 billion by 2028, at a CAGR of 25.77% during the forecast period (2023-2028).

About Mordor Intelligence:

Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.

Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.

Attachment

• Advanced Metering Infrastructure Market - Mordor Intelligence