Meter Data Management System Market Size to Reach USD 1,040.9 Million in 2028 | Increasing Adoption of More Advanced Metering Infrastructure is a Major Factor Boosting Industry Revenue Growth, says Emergen Research

VANCOUVER, BC, Dec. 16, 2021 /PRNewswire/ -- The global Meter Data Management System (MDMS) market size is expected to reach USD 1,040.9 Million in 2028 and register a steady CAGR during the forecast period, according to latest analysis by Emergen Research. Steady global meter data management system market revenue growth can be attributed to increasing need to deploy solutions and devices to effectively detect energy theft, increasing application of more advanced metering infrastructure, increasing installation of smart grids, and rising need to enhance energy efficiency and save energy. Meter data management is a process of collecting and storing meter data generated by automated metering systems. It primarily enables monitoring of smart meters that are commonly used in commercial and residential sectors for enabling organizations to manage their overall revenue by use of accurate energy meters and providing efficient energy solutions.

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Rising adoption of smart meters, availability of cloud computing infrastructure and Internet-of-Things (IoT), and growing focus and investment by governments in meter data management solutions are some of the major factors expected to drive revenue growth of global meter data management system market going ahead. Asia Pacific is expected to register fastest growth rate as compared to other regional markets in the global market during the forecast period. Increasing urbanization, increasing number of SMEs, and rising adoption of smart grids are factors propelling revenue growth of the market in the region.

Some Key Findings From the Report:

• In May 2021, Itron announced its partnership with Microsoft. This partnership will help both companies to create highly scalable cloud-based meter data management services for their consumers.
• Residential segment accounted for largest revenue share in the global market in 2020. Surge in revenue share is attributed to rising application of smart meters in residential sector and increasing need to analyze power consumption.
• North America accounted for 32.7% revenue share in the global market in 2020. Increasing investment in smart meter infrastructure and robust presence of key vendors are some major factors driving revenue growth of the market in this region.
• Major companies included in the market report are Itron, Siemens, Landis+Gyr, Honeywell, Schneider Electric, ABB, Eaton, Kamstrup, DIEHL, and Alcara.

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For the purpose of this report, Emergen Research has segmented the global meter data management system market based on component, utility, application, end use, and region:

• Component Outlook (Revenue, USD Million; 2018–2028)
• Software
• Hardware
• Utility Outlook (Revenue, USD Million; 2018–2028)
• Gas
• Electricity
• Water
• Application Outlook (Revenue: USD Million; 2018–2028)
• Micro Grid
• Smart Grid
• EV Charging
• Energy Storage
• End Use Outlook (Revenue: USD Million; 2018–2028)
• Commercial & Industrial
• Residential

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• Regional Outlook (Revenue: USD Million; 2018–2028)
• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• France
• U.K.
• BENELUX
• Italy
• Spain
• Switzerland
• Russia
• Rest of Europe
• Asia Pacific
• China
• Japan
• South Korea
• India
• Rest of APAC
• Latin America
• Brazil
• Rest of LATAM
• Middle East & Africa
• Saudi Arabia
• UAE
• South Africa
• Turkey
• Rest of MEA

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