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.
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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.
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.
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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.
Key players profiled in the report include Oracle Corporation, Arad Group, Trilliant Holdings, Inc., Elster Group GmbH, Itron, Siemens AG, Aclara Technologies LLC, Enoro, ElectSolve Technology Solutions & Services, Inc., and Landis+Gyr.
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.
KEY MARKET SEGMENTS
- Communication Software
- Consulting Services
- Project Management Services
- Implementation and Integration Services
- Other Support Services
By Deployment Type
- North America
- Rest of Europe
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