Global Meter Data Management (MDM) System Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3622
Global Meter Data Management System Market is anticipated to grow on account of increasing demand for installation of smart meter networks coupled with reduction in power bills. Supporting government regulations to encourage MDM structure coupled with growing electricity demand will strengthen the industry outlook. Increasing rollout of existing meters to reduce energy consumption along with consumer usage pattern monitoring will fuel the product demand.
Rising need for accurate bill generation methods and reliable grid structures will drive the meter data management system market growth. MDM imports the data, validates and processes to make the numbers available for analysis and billing purpose. In addition, growing awareness toward cyber security and proper standards for interoperability is anticipated to positively impact the business landscape.
Growing water consumption along with rapid extension of pipelines will drive the water meter data management system market. Rising concerns toward water-scarcity and reduction of liquid wastage is projected to fuel the industry landscape. Technological advancement to provide proactive streamlining and service of liquid supply management will complement the business outlook. In addition, demand for intelligent meters has increased significantly owing to technical ability to monitor the pattern of resource consumption.
Introduction of various roll out plans and directives by respective government authorities toward the replacement of conventional structures by automated devices will propel the residential meter data management system market size. Automated systems enabled with IoT technology help in reduction of energy bills by managing usage amount and facilitating software applications including data capturing to restore the information in case of failures. Furthermore, ability to control and monitor the energy flow during the high demand will strengthen the product penetration.
AMI meter data management system market is set to grow owing to increasing inclination toward the implementation of sustainable devices particularly across residential establishments. These systems are capable of making two-way communication bridging between services and consumers. Rising adoption of these technology across the energy utilities to manage load, improve services and overcome energy shortage is projected to further boost the product demand.
Low maintenance, reduced installation cost and easy availability are some of the key parameters complementing the AMR meter data management system market share. These devices collect consumption data and automatically diagnoses the facts through metering devices and transmits information to a central database for troubleshooting, billing, and analysis.
UK meter data management system market is anticipated to grow on account of regulatory regimes toward sustainability and energy conservation. In 2018, the government of UK has introduced a program to install intelligent meters for consumers by 2030. These devices provide accurate and real time information about resource consumption coupled with efficient energy protection capabilities therefore can contribute in fulfilment of national objectives and policies.
Key players in the meter data management system market include Siemens, Itron, Honeywell, Landis+Gyr, Schneider Electric, Sagemcom, ABB, Eaton, Alcara and Kamstrup among others.
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