AMI Electric Meter Market Size By Application (Residential, Commercial, Utility), By Technology (RF, PLC, Cellular), By Phase (Single, Three) & Global Forecast, 2023 – 2032

AMI Electric Meter Market Size

AMI Electric Meter Market size was valued at USD 17.4 billion and is expected to witness over 7.6% CAGR from 2023 to 2032. Smart electric metres are used to monitor and log end-user electricity consumption. These metres record data about how much electricity is used and then send it back to the electric utility. Globally rising energy demand has created a need for efficient energy consumption monitoring in order to lower electricity bills, which will in turn drive the development of smart metering systems over the anticipated time period.
 

Shifting focus toward the enhancement of the energy mix to fulfil the growing energy demand has resulted in the adoption of various sustainable systems including smart meters. Respective governments across the globe are adopting the fundamental restructuring of energy supply systems that will lead to integration challenges including flow inaccuracy, overutilization, and load mismatch. The deployment of smart meters can limit the underlined issues by establishing a secure communication network. These systems bridge the communication gap between consumers and utilities which in turn will help in exchanging the real-time consumption information.
 

COVID- 19 Impact

The power sector is the necessity and backbone for the economy, thereby the industry has not witnessed any significant impact of COVID- 19. Globally there has been an increase in investments across smart grid infrastructure which further gives the positive indication toward the market growth. Organizations and electrical utilities are focused on the installation of smart meters across the region. Major contractors, suppliers and manufacturers across the regions including Europe, Middle East & Africa and Latin America are focused on the advancement of their prevailing grid infrastructure.
 

AMI Electric Meter Market Trends

Favourable government-led plans along with growing electricity demand across developing regions have marked considerable potential for the smart metering industry. The regulatory shift toward the development of smart grid infrastructure in line with the flourishing renewable industry across regions will positively drive the business landscape. Although the lack of effective grid infrastructure along with poor fund flow has been curbing growth potential, increasing number of local meter manufacturers along with government rollout mandates have rationalized the industry dynamics.
 

The continuous expansion and increasing share of renewables across centralized & decentralized grid infrastructure require an effective approach toward grid management. The existing grid systems across major nations already incorporate certain elements of smart functionality but are being merely utilized to balance supply & demand. These networks incorporate information and communication technology across every facet of electricity generation, consumption, and delivery. This will result in minimizing environmental impacts, & costs by improving efficiency.
 

AMI Electric Meter Market Analysis

Smart meters across residential establishments have gained a significant momentum through 2032, owing to the introduction of directives and roll out plans toward the replacement of traditional meters. Advanced metering infrastructure help the customers to decrease the energy bills by managing their use more efficiently & facilitating software applications which includes last captured information to restore the data in case of failures. Flourishing investments across the real estate industry along with shifting focus toward the development of smart homes will stimulate the  AMI electric meter market growth.
 

PLC technology offers different means of communication for power-supply systems which utilizes a wide range of power line installations without laying dedicated cables. This technology is easy to implement in the electrical meters making them effective and reliable solution across the industry. With the introduction of new advanced technology including OFDM (Orthogonal Frequency Division Multiplex), the smart metering applications communication speed will increase dramatically. Furthermore, in the current scenario PLC technologies offer a throughput of 2 to 5kbps in turn inclining customer toward the technological adoption.
 

Rapid urbanization coupled with favourable government reforms to digitize the small-scale industries across the developing nations will stimulate the single-phase meters. Integration of reliable energy networks that adhere to the regulatory scenarios including incentives and FiT’s will positively encourage the AMI electric meter market size. For instance, in 2020, the Government of India introduced ambitious plans to replace the conventional meters with smart pre-paid systems by 2022. This plan is included under Atal Distribution System Improvement Yojana, offering replacement of 250 million existing meters.
 

Asia Pacific AMI electric meter market size is anticipated to reach USD 30 billion by 2032. The region is gaining a significant pace toward the deployment of smart electric meters. Large-scale rollouts have begun recently in Japan and South Korea while China leads the region with ongoing retrofit plans to replace conventional electric meters. China is planning to invest heavily in the nation’s energy infrastructure to match up with the existing energy demand. The introduction of various smart city projects across the region will provide potential growth opportunities for the industry. The shifting trend toward the digital economy and information society is one of the prime factors responsible for business growth.
 

AMI Electric Meter Market Share

The key industry participants operating across the AMI electric meter market are :

• Itron Inc.
• Kamstrup
• Siemens
• Honeywell International Inc
• ZIV
• Sensus
• Apator SA
• Landis+Gyr AG
• Schneider Electric
• General Electric
• Larsen & Toubro Limited
• S&T A]
• Trinity Energy Systems Pvt. Ltd.
• Cisco Systems, Inc.
• Mitsubishi Electric Corporation 

AMI Electric Meter Industry News

• In November 2021, Itron launched Smart Pay, a Software as a Service (SaaS) delivery program model, in North America. The software is designed for the utility sector to manage and empower customers with an ease of payment for their energy consumption through flexible billing & payment solutions. The solution will result in efficient utility debt recovery along with consumer engagement with decreasing utility bill calculation in the region.
   

This AMI electric meter market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in Million Units & USD Million from 2019 to 2032, for the following segments:

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Market, By Application

• Residential
• Commercial
• Utility

Market, By Technology

• RF
• PLC
• Cellular

Market, By Phase

• Single
• Three

The above information has been provided for the following regions and country:

• North America
  • U.S
  • Canada 
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Italy
• Asia Pacific
  • Japan
  • China
  • South Korea
  • India
  • Australia
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Kuwait
  • South Africa
  • Egypt
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Chile