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Home›Domestic resource cost›The advanced metering infrastructure market was valued at USD 10.47 billion in 2020 and is expected to reach USD 22.98 billion by 2026, registering a CAGR of 13.9%, during the forecast period 2021-2026.

The advanced metering infrastructure market was valued at USD 10.47 billion in 2020 and is expected to reach USD 22.98 billion by 2026, registering a CAGR of 13.9%, during the forecast period 2021-2026.

By Brian Baize
July 20, 2021
50
0

Smart meters are transformative technology for the utility industry. These state-of-the-art meters provide better insight into energy use. Smart meters have been used in advanced metering infrastructure development initiatives around the world.

New York, July 20, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Advanced Metering Infrastructure Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” – https: // www. reportlinker.com/p06106029/?utm_source=GNW

– The development of an integrated electrical and computer network and other supporting software to analyze the models offers significant advantages to the user. Such a network, known as a “smart grid”, supports the expansion of distributed generation, reduces costs, promotes energy efficiency and improves both the reliability and safety of the entire generation system. , transport and distribution. AMI is an essential part of any smart grid initiative. Government agencies and utilities are turning to AMI systems as part of larger “smart grid” initiatives. For example, according to the International Energy Agency (IEA), global demand for electricity is expected to increase by nearly 80% between 2012 and 2040.
– The COVID-19 outbreak has had a positive impact on the growth of the market, as the energy and utilities sector is seen as essential services that have forced the sector to rethink the way its operations are carried out and how it engages with both its staff and customers. But as the pandemic has affected commercial and industrial job sites and charging patterns have changed, the essential role of utilities in powering society has also changed. It has since become the struggle of every utility to ensure uninterrupted operation and delivery continues while making sure to adhere to the social distancing guidelines necessary to protect its employees and customers.
– The expansion, modernization and decentralization of power infrastructure for better resilience and planned investments from organizations such as the World Economic Forum, which has allocated US $ 7.6 trillion for smart grids over the next 25 years, are expected to change several market dynamics in the overall scenario.
– AMI communication networks are driven by the need for low bandwidth, low cost and delay insensitive meters. The network and communication module for each meter should be as inexpensive as possible. The early days of AMI saw narrow-band powerline communication (PLC) and RF-Mesh as the primary communication technologies driving the adoption of AMI. As communication technology has developed, new technologies, such as broadband PLC networks and Low Power Consumption Networks (LPWAN), have become more prominent trends.
– In April 2020, Senet Inc. announced significant progress in the design, construction and operation of smart meter networks for municipal water service districts in the North American region. Over the past twenty-four months, Senet has designed LoRaWAN networks for water metering and AMI projects representing millions of households.

Key market trends
Smart meters have the largest market share

– Smart metering solutions include meters or modules with communication capabilities (unidirectional or bidirectional) integrated into the meter or attached to the meter. Due to the primary concern of increasing energy consumption, smart meters have seen an increase in their adoption, as they allow two-way communication between the meter and the central system used by utilities.
– Smart meters are increasingly adopted for multiple deployments, such as gas, electricity and water, due to its two-way communication feature, which enables real-time monitoring of service usage utilities by the utility provider and the consumer, also encourages remote start / play / shutdown by the provider. The deployment of smart meters also makes it possible to implement a Home Energy Management System (HEMS) or a Building Energy Management System (BEMS) that can visualize the electrical energy consumption in homes. individual or entire buildings.
– With the adoption of smart meters, challenges, such as expensive and power-hungry data storage and privacy concerns, weigh heavily on these commercial and home technologies. In cases where consumers are unfamiliar with managing new energy systems on their own, they are less likely to pay close attention to the energy saving potential of these smart meters. The majority of the disadvantages of smart meters can be seen in the short term. Nonetheless, such challenges are expected to slow the rate of adoption of these technologies in some cases, especially in rural and currently off-grid areas.
– Energy providers need to consider two key issues regarding smart meters. On the one hand, they have to deploy the technical infrastructure, while on the other hand, they have to comply with the regulatory regime. In Germany, for example, smart metering is still in its infancy. It was not until the end of January 2020 that the Federal Office for Information Security (BSI) gave the long-awaited green light for the compulsory installation of smart metering systems.
– Asian countries are positioning themselves to move forward with the adoption of smart meters. For example, in February 2020, the Indian government announced the installation of 10 lakh smart meters across India as part of the National Smart Meter Program (SMNP). The European Union also estimated that replacing 80% of current electricity meters with smart meters would reduce the region’s carbon emissions by 9% by 2020 and reduce annual household energy consumption by an amount similar, which is also driving the adoption of smart meters. meters.

North America region set to grow at a significant rate

– North America is expected to hold a significant share of the advanced metering infrastructure (AMI) market due to the rapid adoption of smart metering in the region. Supportive government initiatives and increasing government investments in the deployment of smart meters by 2020 are important factors driving the growth of the market.
– The United States is the key player in the region with the largest driver of the smart meter market in conjunction with the deployment of smart meter infrastructure through the American Recovery and Reinvestment Act (ARRA), which included funding of the Smart Grid Investment Grant (SGIG) program.
– In the United States, the number of homes represents the market potential for utilities providing gas. As new homes are built, an increasing proportion of homes will have smart meters installed as AMIs, which continues its widespread adoption. By the end of 2020, 107 million smart meters would have been installed in the United States, according to the Institute for Electric Innovation. Additionally, according to EEI, nearly 70% of U.S. customers will have an AMI by 2021.
– In addition, Canada has also witnessed the large-scale incorporation of smart electricity meters after the government mandate was introduced more than five years ago with the primary aim of reducing peak hour loads. So, due to increasing demand and strict regulations, adoption of smart meters is encouraged by end users.
– In addition, programs targeted at end users are likely to benefit, alongside the use of smart electricity meters for energy efficiency. For example, Pacific Gas & Electric in the United States reported that targeting MAI for a home improvement program saved 3.5 times more energy in targeted homes. Moreover, the integration of smart electricity meters with technologies such as data analytics is expected to further promote the market growth in the region.

Competitive landscape
The advanced metering infrastructure market is highly fragmented. The development of an integrated power grid and IT and other supporting software to analyze models, the increase in the use of smart meters, water metering solutions as well as digitization initiatives in all regions , offer lucrative opportunities in the advanced metering infrastructure market. Overall, the competitive rivalry between existing competitors is high.

– May 2021 – Honeywell has partnered with wireless operator Verizon to integrate Verizon’s managed LTE connectivity with Honeywell’s Internet of Things (IoT) sensors to create a smarter energy grid. The project aims to “accelerate and simplify the deployment of sensors, controllers and other equipment connected to the Internet on electrical networks”.
– April 2021 – Aclara Technologies LLC announced that Austin Utilities will implement an advanced end-to-end metering infrastructure solution based on the Aclara RF network to serve its electricity, gas and water customers . The AMI point-to-multipoint network replaces a manual meter reading system and supports 12,000 electricity meters, 9,500 water meters and 11,000 gas meters for the combined utility.
– December 2020 – Trilliant launched the Libra Series Edge-Ready Smart Electric Meter for residential, commercial and industrial applications. The meter is specially designed to allow simultaneous support of multiple communication technologies, including a combination of RF, LPWAN, cellular and other mesh. Trilliant’s Libra metering solution includes a dual-band network that provides flexibility in the AMI 2.0 upgrade path, including full upstream support for existing systems and the home connectivity required to support the new. energy market.
– August 2020 – Schneider Electric launched a new software service solution, Cloud-Hosted Power Management. The cloud-based system allows users to manage their power and power consumption in real time, eliminating the need for time-consuming and resource-intensive commitments.

Reasons to buy this report:
– The market estimate sheet (ME) in Excel format
– 3 months of analyst support
Read the full report: https://www.reportlinker.com/p06106029/?utm_source=GNW

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