Meter data management system Market to Reach US$ 2,891.7 Mn at a CAGR of 14.4% in 2027

Meter data management system Market to 2027 - Global Analysis and Forecast by Offering (Software and Services); Utility Type (Gas, Water, and Electricity); Application (Smart grid, Microgrid, Energy Storage, EV Charging, and Others); End-User (Residential, Commercial, and Industrial)

Publication Month : Jan 2020

  • Report Code : TIPRE00006169
  • Category : Technology, Media and Telecommunications
  • Status : Published
  • No. of Pages : 194
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The meter data management system market expected to grow from US$ 983.3 million in 2019 to US$ 2,891.7 million by 2027; it is estimated to grow at a CAGR of 14.4% from 2019 to 2027.

Need for grid reliability and outage management system is attributing to the growth of the market. The outage management system is considered a cost-effective solution that helps reduce outage duration by locating outages faster and giving information for directing the response. The outage management system uses the current network state and an advanced prediction engine to help predict and respond to outages in efficient and informative way. This, in turn, helps dispatchers have real-time network information for accurately evaluating how an outage impacts customers. Also, to effectively assign crews, priorities responses, and better determine possibilities for back-feeding power.

It also helps to shorten restoration times, improving public and worker safety, and enhancing communication with the public, customers, and regulatory agencies. It also helps with easy-to-generate historical statistics and reliability indices that measure network efficiency.

Furthermore, in 2017, according to the U.S. Department of Energy, Office of Energy Efficiency and Renewable Energy grid reliability addresses challenges and helps to eliminate barriers that integrate high penetration of distributed-energy production at the transmission and distribution levels. Grids help in the virtual elimination of cascading outages, reduced energy losses, more efficient electrical generation, improved power quality, and reduced environmental impact. Additionally, in November 2019, the Liberal National Party of Queensland, Australia, announced that it would establish a $1 billion Grid Reliability Fund (GRF). Thus, to support new energy generation, transmission, and storage infrastructure, such as eligible projects shortlisted under the Underwriting New Generation Investments (UNGI) program. Thus, the market’s growth in the meter data management market is primarily driven by advanced metering infrastructure technologies.

Lucrative Regions in Meter Data Management System Market


Lucrative Regions in Meter Data Management System Market
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Market Insights–Meter Data Management System Market

Increasing Investment in Electric Vehicle Charging Infrastructures

The meter data management system validates and edits the received data, aggregate, normalize, and enable the data available to IT applications. A meter data management system often interfaces to the application, including fraud prevention, billing, and outage management. A meter data management platform offers a platform for building service-oriented architectures (SOA) for rapid placement and low-cost integration of new capabilities. As meter data management systems are the essential collection point for utilities worldwide, prefer the installation of a single meter data management system. The meter data management system solution consists of meter and network asset management and monitoring, smart meter management and deployment planning, automated billing reduction and smart meter provisioning, workforce management system, asset management, meter-to-cash system, and others.

The major adoption of Electric Vehicle (EV) has been recognized as a primary challenge for the future development of smart grids. The ever-growing electric vehicle charging further increases energy demand. The carbon release due to EV charging is leading to critical environmental concerns. Apart from environmental and economic reasons, the most important driving force of the EV market is strong policies, such as legislation, benefits, and rebates from various governments. Additionally, the rapid growth of electric vehicles definitely increases energy demand. The extra energy demand for EV further increases the peak demand and causes the distribution of circuit congestion. Thus, increasing the demand for meter data management system during the review period.


Offering -Based Insights

Based on offering, the meter data management system market is segmented into software and service. The software segment held the largest market share in 2018.

Utility Type -Based Insights

Based on organization size, the meter data management system market is segmented into gas, water, and electricity. The electricity segment held the largest market share in 2018.

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Meter data management system Market: Strategic Insights

meter-data-management-system-market
Market Size Value inUS$ 983.3 Million in 2019
Market Size Value byUS$ 2,891.7 Million by 2027
Growth rateCAGR of 14.4% from 2019-2027
Forecast Period2019-2027
Base Year2019
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Players operating in the meter data management system market are mainly focused on the development of advanced and efficient products.

  • In 2019, Kamstrup joined forces with Siemens to offer a solution consisting of the data collection system, Kamstrup OMNIA, combined with high quality smart meters and meter data management solution, Siemens EnergyIP.
  • In 2019, Ameren Missouri deployed Landis+Gyr’s Gridstream Connect solution, including 1.27 million advanced electricity meters and 130,000 gas meters. Besides, the contract includes an extension of Landis+Gyr’s meter data management system and the Command Center head-end system.

The meter data management system market has been segmented as follows:

Meter Data Management System Market – by Offerings

  • Software
  • Services

Meter Data Management System Market – by Utility Type                     

  • Gas
  • Water
  • Electricity

Meter Data Management System Market – by Application                     

  • Smart Grid
  • Microgrid
  • Energy Storage
  • EV Charging
  • Others

Meter Data Management System Market – By End User

  • Residential
  • Commercial
  • Industrial

Meter Data Management System Market – by Geography

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Italy
    • Russia
    • U.K
    • Rest of Europe
  • Asia Pacific (APAC)

    • Japan
    • China
    • Australia
    • India
    • South Korea
    • Rest of APAC
  • Middle East and Africa (MEA)

    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of MEA
  • South America (SAM)

    • Brazil
    • Argentina
    • Rest of SAM

Meter Data Management System Market – Company Profiles

  • ABB Ltd.
  • Aclara Technologies LLC
  • Diehl Metering GmbH
  • Eaton Corporation
  • Honeywell International, Inc.
  • Itron Inc.
  • Kamstrup A/S
  • Landis+Gyr Group AG
  • Schneider Electric SE
  • Siemens AG
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Offering ; Utility Type ; Application ; End-User

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

Frequently Asked Questions


What are reasons behind North America meter data management system growth?

The electric infrastructure of the US is aging, and the country is in the middle of a movement of grid modernization intending to accommodate new types of energy generation as well as energy demand. However, with the increasing number of connected elements of the power grid to the internet, concerns regarding cyber-attacks have increased that may hinder smart grid progress.

What are market opportunities for meter data management system?

The government of various countries are adopting the momentum of smart cities thereby, investing in the development of internet infrastructure in the countries with an aim to bring robust urbanization. The US is experiencing a huge growth in numbers of cities transforming to smart cities especially focused on energy, traffic, and transportation. European countries are also emphasizing smart cities in order to enhance their infrastructures.

Which application hold the major share in meter data management system market?

Smart grid dominated the meter data management system market in 2018. Smart grid data management is a key sector of the IIoT, with the potential to support utilities to address key operational, financial, and customer challenges. Utilizing the large volumes of data generated by the smart grid, along with data available through the third-party data services.

The List of Companies

1.ABB Ltd.

2.Aclara Technologies LLC

3.Diehl Metering GmbH

4.Eaton Corporation

5.Honeywell International, Inc.

6.Itron Inc.

7.Kamstrup A/S

8.Landis+Gyr Group AG

9.Schneider Electric SE

10.Siemens AG

 


The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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