The Advanced Metering Infrastructure (AMI) market 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% during the forecast period.
Seattle, WA -- (SBWIRE) -- 09/28/2017 -- Various benefits of the AMI technology, such as ability to detect outages and facilitation of real-time energy consumption patterns for end-users are expected to create traction for the market in the next five years. The major drivers of this market include increasing global energy demand; government mandates and legislative compliances; and the need for improved customer service level and utility efficiency.
Increasing integration of Internet of Things (IoT) with smart grid to open major opportunities
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The market size for AMI has considerably grown over the past few years and the emergence of disruptive technologies, such as IoT and connected devices has further augmented the opportunity areas for AMI. With the emergence of connected devices, such as home gateways, smart meters, and smart plugs, innovative ways to manage and predict energy usage have come into the picture. Increasing integration of IoT with smart grid opens major opportunities for the growth of the AMI market.
Meter Data Management (MDM) solutions segment is expected to hold the most promising potential for the next five years
The AMI market has been segmented into solutions and services. AMI solutions can range from standalone AMI security, MDM, analytics, and Meter Communication Infrastructure (MCI) to integrated solutions where service providers can provide one stop end-to-end solutions to utilities. The MDM solutions segment is projected to grow at the highest growth rate due to the large amount of data being generated and is crucial for the user, hence it is likely to present the largest market opportunity during the forecast period. AMI services are aimed at enabling smarter and coordinated decision-making by mitigating the risks and vulnerabilities of the AMI infrastructure by the use of efficient tools and techniques.
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North America contributes 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.
The major vendors covered in the AMI market for this study include 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.), Elster Group GmbH (Essen, Germany), Sensus (Raleigh, U.S.), Tieto Corporation (Helsinki, Finland), and Trilliant, Inc. (California, U.S.).