The global advanced metering infrastructure market is projected to reach $52.4 billion by 2030, growing at a CAGR of 12.0% from 2021 to 2030. Advanced metering infrastructure (AMI) is a communication architecture that allows a smart utility meter with an IP address to communicate with a utility provider in an automatic, two-way manner. AMI is seen as an important part of any smart grid initiative. The goal of an AMI is to offer utility companies with real-time data about power consumption and allow customers to make informed choices about energy usage based on the price at the time of use.
Recent advancements in the utility business are projected to open up the possibility of a wide range of collecting systems and water utilities. Utilities are anticipated to implement dynamic pricing schemes and demand response to shift or reduce energy use to non-peak hours driven by legal and environmental objectives to save resources. However, inadequate financial incentives for utilities and the need for improvement in customer service level may hamper advanced metering infrastructure market growth. These are some of the advanced metering infrastructure market trends observed globally.
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The global advanced metering infrastructure industry is consolidated in nature with a few players such as Itron, Eaton Corporation, Echelon Corporation, Siemens AG, General Electric, Cisco Systems, Inc., IBM Corporation, Dynosonic, Schneider Electric SE, and Sensus, which hold significant share of the market. These players have been adopting various strategies to gain higher share or to retain leading positions in the market.
Companies are not earning any profit as a result of halt in operations. Not only the companies are losing money but they are also losing suppliers who are providing the required materials to various companies to be used in construction sector. Furthermore, due to social distancing norms during COVID-19, the manufacturing companies are working with limited workforce, thus negatively impacting the production and construction processes
The global advanced metering infrastructure market is segmented into product type, end-user, and region. On the basis of type, the global advanced metering infrastructure market is segregated into smart metering devices (electricity, gas water), solutions (meter communication infrastructure and software), and services (system integration, deployment and program consulting).
On the basis of smart metering device, the electricity segment accounted for the largest share in 2020, while the water segment is projected to grow at the highest CAGR of 14.0%.
On the basis of solution, the software segment accounted for the largest share in 2020, and is projected to grow at the highest CAGR of 12.2%.
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On the basis of services, the program consulting segment accounted for the largest share in 2020, while the System Integration segment is projected to grow at the highest CAGR of 15.50%. AMI communications networks are driven by the need for low-bandwidth, low-cost, delay-insensitive metering. Both the network and the communications module in each meter must be as low cost as possible. The early days of AMI witnessed narrow-band Power-Line-Communication (PLC) and RF-Mesh as the primary communication technologies driving AMI adoption.
End-user of advanced metering infrastructure includes residential, commercial, and industrial. The residential segment was the major share contributor in 2020; however, the industrial segment is projected to be the fastest growing segment at a CAGR of 13.3%. Government agencies and utilities are turning toward AMI systems as part of larger “smart grid” initiatives. For instance, the global power consumption is expected to rise by over 80?tween 2012 and 2040, according to the International Energy Agency (IEA).
Region wise, the advanced metering infrastructure market is studied across North America, Europe, Asia-Pacific, and LAMEA. Europe garnered the largest share of the market in 2020, while the Asia-Pacific segment is projected to be the fastest growing segment at a CAGR of 13.1%.
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Impact Of Covid-19 On The Global Advanced Metering Infrastructure Market
- The COVID-19 pandemic has positively influenced the market growth, as the energy & utility sector are considered essential services that have forced the sector to rethink how their operations are performed and how they engage with both their staff and their customers.
- However, the pandemic impacted commercial and industrial job sites, causing load patterns to shift, as well as utilities’ important role in society’s power supply. It has since become every utility’s struggle to ensure that uninterrupted operation and delivery continue while adhering to the necessary social distancing guidelines required safeguarding employees and customers.
- Due to the COVID-19 pandemic, transport limitations were implemented, resulting in reduced industrial production and disrupted supply chains, which affected global economic growth by a substantial proportion, severely impacting market growth.