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Advanced Metering Infrastructure Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

  • ID: 4771863
  • Report
  • February 2021
  • Region: Global
  • 132 pages
  • Mordor Intelligence
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FEATURED COMPANIES

  • Aclara Technologies LLC
  • Cisco Systems Inc.
  • IBM Corporation
  • Itron Inc.
  • Landis+Gyr
  • Schneider Electric SE
  • MORE
The Advanced Metering Infrastructure Market was valued at USD 10.45 billion in 2020 and is expected to reach USD 23.16 billion by 2026, at a CAGR of 14.12% over the forecast period 2021 - 2026. Smart Meters represent a transformative technology for the utility industry. These technologically advanced meters provide greater insight into the usage of energy. In the case of smart electric meters, they ensure enhanced control of the electrical grid. Smart Meters have been employed as a part of Advanced Metering Infrastructure development initiatives around the world.
  • Development of an integrated and IT-enabled power grid and other support software to analyze the patterns offers significant benefits to the user. Such a grid, known as a ‘smart grid’, supports the expansion of distributed production, lowers costs, promotes energy efficiency and improves both the reliability and security of the entire production, transmission and distribution system.
  • Governmental regulations in North America and Europe regions are pushing them towards smart grids and helping them attain top spots in terms of market shares. With companies around the world increasingly being aware of the technologies, organizations are investing in integrating new technologies to produce advanced metering devices with improved performance and efficiency.
  • Thus, there are huge opportunities for companies to invest in the technology segment. This might also help in realizing low-cost devices that could help companies capture unexplored markets in developing nations.
Key Market Trends

Smart Meter Expected to Hold Significant Market Share
  • Smart meters are increasingly being adopted for multiple deployments, such as gas, electricity, and water, due to its two-way communication feature, which enables real-time monitoring of utility usage by both utility supplier and consumer, also encourage to start/reading/cutoff of supply remotely by the supplier. Smart meters deployment also enables implementing a Home Energy Management System (HEMS) or Building Energy Management System (BEMS) that allows visualization of the electric power usage in individual homes or entire buildings.
  • Organizations acknowledge the advantages of smart meters and adopt them to increase the efficiency and accuracy of utility management. Companies around the world have already announced multiple investments for smart meter infrastructure, and Telefonica, for instance, expects to see between 90 and 130 million intelligent electricity and gas meters deployed by 2022.
  • The significant advantages associated with the use of smart meters, both from consumers and utility companies’ perspective, are drivers of their strong growth. Energy companies can use smart meters to reduce their operational costs considerably, as fewer call-outs are needed, and the billing accuracy is improved.
  • There are two key issues for energy suppliers to consider regarding smart meters. On one hand, they must roll out the technical infrastructure, while on the other hand, they need to comply with the regulatory regime. In Germany, for example, smart metering is still in its infancy. It was just in late January 2020 that the Federal Office for Information Security (BSI) gave the long-awaited go-ahead for the mandatory installation of smart metering systems.
  • Asian countries are positioning themselves to move forward with the adoption of smart meters. For instance, in February 2020, the Indian government announced the installation of 10 lakh smart meters across India under the smart meter national program (SMNP). The European Union has also estimated that the replacement of 80% of current electricity meters by smart meters would reduce the region’s carbon emissions by 9% by 2020 and bring down annual household energy consumption by a similar amount, which is also driving the adoption of smart meters.
North America Expected to Hold Significant Growth
  • North America is expected to hold a prominent share in the Advanced Metering Infrastructure (AMI) Market due to the rapid adoption of smart metering in the region. Favorable government initiatives and growing government investments towards the deployment of smart meters by 2020 are significant factors driving the growth of the market.
  • United States is the key player in the region with the largest driver of the smart meters market in conjunction with the deployment of smart meter infrastructure has been American Recovery and Reinvestment Act (ARRA), which included funding for the Smart Grid Investment Grant (SGIG) program.
  • Further, Canada has also witnessed large-scale incorporation of smart electricity meters after the governmental mandate was introduced more than five years ago with the prime motive of reducing peak-time loads. Thus, owing to increasing demand and stringent regulations are stimulating the adoption of smart meters across end users.
  • The growth of the market is also increasing due to the growing population and rise in the number of water applications in the United States and Canada. Several features offered by smart water meters, like time bases, synchronized meter readings, and system monitoring and control, are expected to extend the market.
  • Also, targeted programs to the end-users are likely to benefit alongside leveraging smart electric meters for energy efficiency. For instance, Pacific Gas & Electric, in the United States, reported AMI targeting for a home retrofit program delivered 3.5 times more energy savings in the targeted homes. Additionally, the integration of smart electric meters with technologies such as data analytics is expected to further foster the growth of the market in the region.
Competitive Landscape

The advanced metering infrastructure market is highly fragmented. Development of integrated and IT-enabled power grid and other support software to analyze the patterns, the increase in the use of smart meters, water metering solutions along with digitalization initiatives across regions, provide lucrative opportunities in the advanced metering infrastructure market. Overall, the competitive rivalry among existing competitors is high. Moving forward, the different innovation strategy of large companies are penetrating the advanced metering infrastructure market. Some of the key developments in the area are:
  • June 2020 - Piedmont Electric selected Landis+Gyr (LAND.SW) to update its advanced metering system and provide supporting technology for grid management and member engagement. The company deployed Landis+Gyr’s Gridstream® Connect platform with RF mesh network and 35,000 advanced meters to replace its existing power line carrier AMI system to enable secure communication with advanced meters, load control and distribution automation devices, while improving reliability and support for flexible billing options, such as prepay metering services.
  • April 2019 - Siemens developed a comprehensive concept for energy systems worldwide which brings technology into areas of regulation and social engagement. The Energy Value Charter aims to create customized solutions that will empower countries to make their energy systems fit for the future. The concept encompasses suggestions for implementing sustainable power-generation technologies, together with recommendations on how legal frameworks must be adapted to ensure that the full potential of these technologies can be tapped.
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FEATURED COMPANIES

  • Aclara Technologies LLC
  • Cisco Systems Inc.
  • IBM Corporation
  • Itron Inc.
  • Landis+Gyr
  • Schneider Electric SE
  • MORE
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Shift Toward Energy Efficient/Saving Alternatives
4.2.2 Favorable Governmental Initiatives Driving Adoption
4.3 Market Challenges
4.3.1 High Initial Costs
4.4 Market Opportunities
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porters Five Force Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
4.7 Technology Snapshot
4.8 Impact of Covid-19 on the Market

5 MARKET SEGMENTATION
5.1 Devices & Services
5.1.1 Smart Meters
5.1.2 Meter Communication Infrastructure
5.1.3 Data Management
5.1.4 Services
5.2 End-user Industry
5.2.1 Residential
5.2.2 Commercial
5.2.3 Industrial
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 Latin America
5.3.5 Middle East and Africa

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Itron Inc.
6.1.2 IBM Corporation
6.1.3 Landis+Gyr
6.1.4 Sensus USA Inc.
6.1.5 Siemens AG
6.1.6 Tieto Corporation
6.1.7 Aclara Technologies LLC
6.1.8 Cisco Systems Inc.
6.1.9 General Electric Corporation
6.1.10 Trilliant Inc.
6.1.11 Schneider Electric SE

7 INVESTMENT ANALYSIS

8 MARKET OPPORTUNITIES AND FUTURE TRENDS
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  • Itron Inc.
  • IBM Corporation
  • Landis+Gyr
  • Sensus USA Inc.
  • Siemens AG
  • Tieto Corporation
  • Aclara Technologies LLC
  • Cisco Systems Inc.
  • General Electric Corporation
  • Trilliant Inc.
  • Schneider Electric SE
Note: Product cover images may vary from those shown
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