A smart meter is an electronic device that records energy consumption in intervals and communicates it on a frequent basis for monitoring and billing. This device consists of hardware and software components. Hardware components of a smart meter include handheld devices, meter, hubs, storage devices, transceivers, powerline communication (PLC) modems, LCD display, and others, while software consists of smart meter includes meter data management system, meter data analytics software, network management software, and others. Smart meters also require frequent maintenance, upgradation, and other services in its lifespan.
Growth in demand for smart meters across the world to efficiently use energy sources and monitor energy consumptions drives the market growth. Further, supportive rules and regulations, as well as initiatives undertaken by the governing bodies of the nations, boosts the demand for smart meter data management products worldwide. However, the high cost of these meters and management of high volumes of data can be concerning factors that impact the market development. Nevertheless, increasing volume of meter data and high demand for predictive analysis are expected to offer considerable growth opportunities for the smart meter data management market.
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The global smart meter data management market is segmented on the basis of component, deployment type, and region. Based on component, the market is bifurcated into software and services. The software segment is further segmented into meter data management system (MDMS), meter data analytics (MDA), and software communication. Services are further studied across consulting, project management, implementation and integration, and other support services. The MDMS market is further segmented into electric, gas, and water segments based on their application.
Based on deployment type, the smart meter data management market is divided into cloud based and on-premise. Regionally, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The passage highlights the trend of governmental organizations increasing their maintenance budgets for system infrastructure while also investing in initiatives for project development, modernization, and enhancement. This has led to the success of investments and an increase in the annual funding set aside by ICT vendors for the growth of the online market. The passage also mentions the anticipated increase in global ICT exports, which are expected to rise by an average of 3.9% yearly from US$ 784.3 billion in 2021 to US$ 955.19 billion in 2030. The global supply of ICT has increased by 9.5% yearly since 2009.
In terms of global ICT exports in 2021, Ireland ranked first with US$ 169.32 billion, followed by the United States at number 2, India at number 3, and China at number 4. The passage also notes the significant increase in Brunei’s global ICT exports by 228.2% year over year since 2009, while Sierra Leone’s global ICT exports have decreased by 61.7% year over year in the same period. Overall, the passage highlights the growth and potential of the global ICT market, driven by increased investments and funding for infrastructure and project development.
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It seems that the ICT industry in Europe is predicted to experience moderate growth in the coming years, with an annual increase of 1.5% expected from 2021 to 2026. Germany currently holds the top position in terms of ICT revenue in Europe, followed by the United Kingdom, France, and Ireland. It’s interesting to note that while some countries like Malta have experienced significant growth in the ICT industry since 2016, others like Italy have seen a slight decline. This information can be useful for businesses and investors looking to enter or expand in the European ICT market.
KEY BENEFITS FOR STAKEHOLDERS
In-depth analysis of the global smart meter data management market along with its dynamics is provided to understand the market scenario.
Quantitative analysis of the current trends and future estimations from 2017 to 2023 is provided to assist strategists and stakeholders to capitalize on prevailing opportunities.
Porter’s Five Forces analysis examines the competitive structure of the smart meter data management market and provides a clear understanding of the factors that influence the market entry and expansion.
A detailed analysis of the geographical segments enables identification of profitable segments for market players.
Comprehensive analysis of the trends, sub-segments, and key revenue pockets are provided in the report.
Detailed analysis of the key players and their business strategies are anticipated to assist stakeholders to take informed business decisions.
Profile analysis of leading players that operate in the smart meter data management market are provided in the report, which highlight the major developmental strategies such as mergers & acquisitions, expansions, and new product launches adopted by these companies.
The key players profiled in the report are as follows:
Oracle Corporation
Arad Group
Trilliant Holdings, Inc.
Elster Group GmbH
Itron
Siemens AG
Aclara Technologies LLC
Enoro
ElectSolve Technology Solutions & Services, Inc.
Landis+Gyr
KEY MARKET SEGMENTS
By Component
Software
MDMS
By Application
Electric
Gas
Water
MDA
Communication Software
Services
Consulting Services
Project Management Services
Implementation and Integration Services
Other Support Services
By Deployment Type
Cloud
On-premise
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By Region
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Russia
Italy
Spain
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
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