Increasing global energy demand, and government mandates and compliances related to energy conservations are expected to drive the AMI market
The AMI market size is expected to grow from USD 4.48 billion in 2015 to USD 9.19 billion by 2020, at a Compound Annual Growth Rate (CAGR) of 15.5%. There is a persistent rise in global energy usage as Energy Information Administration (EIA) projects that the global energy consumption is likely to increase to 56% by 2040. Rapid industrialization in the emerging economies, such as India and China has compelled the energy demand to accelerate in these regions. Further, turmoil in the Middle East, political conflicts, and over consumption of energy are some of the reasons that act as a catalyst to the rising energy demand. Moreover, rising demand for energy has compelled utilities to upgrade the electric and distribution network, thereby driving the adoption of AMI systems. Inadequate financial incentives for utilities, and interoperability and standard interface are the restraints of the AMI market.
Meter Data Management (MDM) solution is expected to gain the maximum traction during the forecast period
In 2015, MDM solution accounts for the highest market share in the AMI market by solution. Moreover, the penetration rate for MDM solutions is also gaining traction, which is the central point of integration for the AMI system with the utility companies. Whereas, the meter deployment services segment is expected to grow at the highest CAGR from 2015 to 2020. Moreover, the meter deployment services segment is expected to hold the largest market share during the forecast period.
The smart water meters segment in the AMI market is expected to grow at the highest CAGR as compared to other devices. These meters are deployed to record hourly residential and commercial electric usage. Through the creation of smart water networks, utilities can locate leakages; and monitor and manage flow rates, water quality, and pressure, thus plummeting instances of bursts on the network.
North America contributes to the maximum market share currently
North America is expected to have the largest market share and would dominate the AMI market from 2015 to 2020, since rising demand for energy has forced utilities to upgrade the electric and distribution network. The financial soundness of the companies in this region also enables them to invest heavily in the leading tools and technologies for effective energy consumption. Latin America offers potential growth opportunities due to large-scale infrastructure development.
In the process of determining and verifying the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key industry personnel. The breakup of profile of the primary discussion participants is given below.
- By Company Type: Tier-1 (20%), Tier-2 (40%), and Tier-3 (40%) companies
- By Designation: C-level (70%), Director Level (20%), and other executive level (10%)
- By Region: North America (60%), Europe (30%), and Asia-Pacific (APAC) (10%)
The major trends in the smart meter segment include smart devices, Internet of Things (IoT), meter data analytics, and AMI security. The availability of cloud deployment options for AMI has further boosted the demand for AMI solutions across the utility sector. Therefore, AMI security and meter data analytics are the upcoming focus for the AMI market.
The various key AMI vendors profiled in the report are as follows:
- Cisco Systems, Inc. (California, U.S.)
- IBM Corporation (New York, U.S.)
- General Electric (Connecticut, U.S.)
- Schneider Electric SE (Rueil-Malmaison, France)
- Itron, Inc. (Washington, U.S.)
- Aclara Technologies LLC (Missouri, U.S.)
- Sensus (Raleigh, U.S.)
- Elster Group GmbH (Essen, Germany)
- Tieto Corporation (Helsinki, Finland)
- Trilliant, Inc. (California, U.S.)
The report will help the market leaders/new entrants in this market in the following ways:
- This report segments the AMI market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the sub segments across different verticals and regions.
- The report helps the stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
- This report will help the stakeholders to better understand the competitors and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, mergers, and acquisitions.