Meter Data Management System Market Booming Demand Leading to Exponential CAGR Growth by 2028
The global meter data management system market size is expected to reach USD 1,040.9 Million in 2028 at a steady CAGR, according to latest analysis by Emergen Research. Major factors driving market revenue growth are increasing need to detect energy theft, rising focus and investment by governments in meter data management solutions, increasing application of more advanced metering infrastructure, rapid installation of smart grids, and growing need to enhance energy usage and reduce energy wastage. Meter data management is a process of collecting and storing meter data generated from automated energy metering systems. These systems plays a crucial role in advanced metering infrastructure that allows bidirectional communication between meter and central management system.
The researchers have considered all the factors influencing the growth of the Meter Data Management System market on the global and regional scale. The report considers the COVID-19 pandemic as one of the key influencing factors of the Meter Data Management System market. The pandemic has disrupted the supply chains and economic scenario of the market and has hindered the growth of the market. The report discusses in detail the overall impact of the COVID-19 pandemic on the Meter Data Management System market and its key segments. The report also offers a current and future impact of the COVID-19 pandemic on the market.
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Some Key Findings From the Report:
- In July 2021, CrescoNet acquired Smart Earth Technologies. This acquisition will help CrescoNet to expand its water utility product portfolio by adding product line of Smart Earth Technologies that includes integrated, battery-operated, cellular endpoint transceivers, valves, installation tools, LTE infrastructure, and cloud software for meter data management, and customer information systems.
- Software segment is expected to register faster CAGR over the forecast period. This can be attributed to rising adoption of smart meters and increasing need for more accurate and efficient energy monitoring and management, format, and process for meter data for accurate billing.
- Asia Pacific is expected to register fastest revenue CAGR throughout the forecast period. Increasing urbanization, increasing number of SMEs, and rising adoption of smart grid networks are key factors propelling revenue growth of the market in this region.
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The competitive landscape of the report has been formulated by considering all the vital parameters such as company profiling, market share, recent developments and advancements, gross margins, product portfolio, revenue generation, financial standing, market position, and expansion plans. The report also discusses in detail the recent mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, agreements, corporate and government deals, and partnerships, among others. The report also sheds light on the recent technological developments and product advancements in the Meter Data Management System market.
Furthermore, the report provides details about the new players entering the market, entry-level barriers and offers strategic recommendations to overcome those barriers to gain a substantial industry presence.
Key Players operating in the Meter Data Management System industry are:
Itron, Siemens, Landis+Gyr, Honeywell, Schneider Electric, ABB, Eaton, Kamstrup, DIEHL, and Alcara.
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For the purpose of this report, Emergen Research has segmented the global meter data management system market based on component, utility, application, end use, and region:
Component Outlook (Revenue, USD Million; 2018–2028)
Utility Outlook (Revenue, USD Million; 2018–2028)
Application Outlook (Revenue: USD Million; 2018–2028)
- Micro Grid
- Smart Grid
- EV Charging
- Energy Storage
End Use Outlook (Revenue: USD Million; 2018–2028)
- Commercial & Industrial
The Global Meter Data Management System Market is further analyzed across the key geographical locations where the market has expanded to a significant size. The key region analyzed are North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report offers a country-wise analysis to provide a comprehensive analysis of the Meter Data Management System market in terms of production and consumption patterns, supply and demand ratio, import/export, revenue contribution, trends, and presence of prominent players in each region.
Regional Analysis Covers:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The all-inclusive report on the Global Meter Data Management System Market added by Emergen Research demonstrates that the global Meter Data Management System market is presumed to grow at a steady CAGR throughout the forecast timeline. The report analyzed the key market drivers, restraints, growth opportunities, investment opportunities, threats, and limitations of the Meter Data Management System market. The report also offers accurate forecast estimation at a global and regional level to impart a better understanding of the scope of the market.
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Radical Features of the Meter Data Management System Market Report:
- The report encompasses Meter Data Management System market overview along with market share, demand and supply ratio, production and consumption patterns, supply chain analysis, and other ley elements
- An in-depth analysis of the different approaches and procedures undertaken by the key players to conduct business efficiently
- Offers insights into production and manufacturing value, products and services offered in the market, and fruitful information about investment strategies
- Supply chain analysis along with technological advancements offered in the report
- The report covers extensive analysis of the trends, drivers, restraints, limitations, threats, and growth opportunities in the Meter Data Management System industry
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