According to IMARC Group’s latest report, titled “Meter Data Management System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, the global meter data management system market is expected to exhibit a CAGR of 19.7% during 2022-2027. A meter data management system (MDMS) refers to software used to import, validate, and store data delivered by smart metering systems. It includes smart meters that measure gas, electricity and water consumption and process the acquired data before it is used for final billing. It enables the user to consolidate and manage consumption data under a single structure and optimize business processes. It also assists in preventing fraudulent activities, detecting energy theft, estimating meter readings, and enhancing overall efficiency. As a result, MDMS is extensively adopted across commercial and residential sectors across the globe.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Market Trends and Drivers:
The meter data management system market is primarily driven by the increasing deployment of smart grids and rapid urbanization across the globe. Besides this, the widespread adoption of advanced metering technologies that can detect a power outage and provide real-time updates based on the energy consumption is also contributing to market growth.
Various key players are integrating advanced technologies, such as cloud computing, machine learning (ML) and Internet-of-Things (IoT), with metering systems to improve operational planning and increase the overall energy saving. This, coupled with the escalating demand for efficient data monitoring systems from the residential sector to manage the overall energy consumption and track utility bills, is creating a favorable market outlook across the globe. Furthermore, significant developments in the power infrastructure across the developing economies, the rising need for predictive analytics, and ongoing research and development (R&D) activities are some of the other factors propelling the market growth.
Meter Data Management System Market 2022-2027 Competitive Landscape and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the meter data management system market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- ABB Ltd.
- Aclara Technologies LLC
- Arad Group
- Diehl Stiftung & Co. KG
- Eaton Corporation Inc.
- Elster Group GmbH
- Honeywell International Inc.
- Itron Inc.
- Kamstrup
- Landis+Gyr
- Oracle Corporation
- Schneider Electric
- Siemens
- Trilliant Holdings Inc.
Key Market Segmentation:
The report has segmented the global meter data management system market on the basis of component type, utility type, application, deployment type, end-user and region.
Breakup by Component Type:
- Hardware
- Software and Services
Breakup by Utility Type:
- Electricity
- Gas
- Water
Breakup by Application:
- Smart Grid
- Microgrid
- Energy Storage
- EV Charging
- Others
Breakup by Deployment Type:
- Cloud-based
- On-premises
Breakup by End-User:
- Residential
- Commercial
- Industrial
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (Egypt, United Arab Emirates, Saudi Arabia, Turkey, Qatar, Iran, Others)
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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