According to the latest report by IMARC Group, titled “Advanced Metering Infrastructure (AMI) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the global advanced metering infrastructure (AMI) market analysis. The report also includes competitor and regional analysis, and contemporary advancements in the market.What Are The Growth Prospects Of The Advanced Metering Infrastructure (AMI) Industry?
The global advanced metering infrastructure (AMI) market size reached US$ 20.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 43.0 Billion by 2028, exhibiting a growth rate (CAGR) of 13.3% during 2023-2028.
Advanced metering infrastructure (AMI) represents an integrated system of equipment, information management systems, and communication networks designed to collect real-time customer water usage data remotely. Its main components include sensors, remotely controlled variables, meters, and a meter interface unit (MIU). AMI solutions utilize radio-based technology to read water meters, thereby eliminating the need for manual meter reads. They even provide multiple benefits, such as improved utility operations, effective leak detection, increased water conservation, enhanced security and resilience, and higher cost savings. Consequently, AMI devices find widespread applications in residential, commercial, and industrial sectors across the globe.
Market Trends
The growing requirement for accurate water billing solutions in the residential sector and the expanding adoption of smart water meters across countries are primarily driving the advanced metering infrastructure (AMI) market. In addition to this, the launch of various initiatives and campaigns by government bodies and non-governmental organizations (NGOs) aimed at conserving freshwater is acting as another significant growth-inducing factor. Besides this, the escalating use of remote meter reading solutions in geographically dispersed territories or remote areas to generate more timely and accurate bills and the increasing employment of ultrasonic flowmeters in water and wastewater treatment for measuring the dosage of chemicals, monitoring methane discharge, and evaluating large volumes of fluid carrying sludge by-products and suspended solids are also positively influencing the global market. Moreover, the introduction of new products by key players that are combined with innovative technologies, including in-home displays and programmable communicating thermostats that enable utilities to offer new time-based rate programs and incentives for encouraging customers to reduce peak demand and adequately manage energy consumption and costs and the rising improvements in grid modernization are anticipated to fuel the advanced metering infrastructure (AMI) market in the coming years.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Aclara Technologies LLC, Cisco Systems Inc., Eaton Corporation plc, Honeywell International Inc., International Business Machines Corporation, Itron Inc., Landis+Gyr, Mueller Systems LLC, Schneider Electric SE, Sensus and Trilliant Holdings Inc.
Report Segmentation
Breakup by Product Type:
- Smart Metering Devices
- Electricity
- Water
- Gas
- Solutions
- Meter Communication Infrastructure
- Software
- Services
- System Integration
- Deployment
- Program Consulting
Breakup by End User:
- Residential
- Commercial
- Industrial
Regional Insights:
- Asia Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.
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