Meter Data Management Market 2015 to grow at a CAGR of 27.4% by 2019: Market Research Store
Deerfield Beach, FL -- (SBWIRE) -- 09/28/2015 -- A meter data management system is mainly used to collect meter readings from advanced and automated metering systems. The system accurately collects data and helps generate bills with minimum manual interference. Global meter data management market to grow at a CAGR of 27.4% over the period 2014-2019. It is considered as the backbone of an AMI system and a key constituent of smart grid. Meter data management system is the key component of smart grid infrastructure that helps in managing data collection from AMI. A meter data management system imports, validates, and processes data before they can be used for billing and analysis. This system is the central components of smart metering solutions, resulting in its increased demand.
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The adoption of MDM solutions by power utilities has helped enhance the AMI platform, while improving operational efficiency, energy projection, distribution system dependability, and regulatory compliance. The MDM and smart grid industries in China and India have seen considerable growth, driven by large-scale investments from international vendors.
"Utilities all over the world have begun to adopt smart meters to realize the overall goal of creating a smart grid system,".
"A majority of utility companies are in the process of achieving an end-to-end solution to manage energy effectively. Many developed countries are aiming to achieve an end-to-end solution by 2020."
Covered in this Report
The report covers present scenario and the growth prospects of the global meter data management market for the period 2015-2019. The report includes the segmentation of the market based on application and geography.
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The report, Global Meter Data Management Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
Key Market Drivers
Need to reduce electricity theft
Need for high billing accuracy
Better financial planning
Introduction of usage-based tariff plans
Key Market Trends
Support from regulatory authorities
Increase in smart grid installations
Preference for wireless smart energy meters over wired meters
End-to-end solutions for better energy management
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Key Market Vendors
Elster Group SE
To define the market circumstances in the next 3-4 years, Our analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.