Europe Advanced Metering Infrastructure Market, by Type (Hardware (Smart Meters, Communication Module, and Others (IT Hardware, etc.)), Software (Meter Data Management (MDM), Head End System (HES), Meter Data Analytics, and Others (AMI Security, etc.)), and Services (System Integration, Meter Deployment, and Others (AMI Consulting, etc.)), by End User (Residential, Commercial and Industrial), and by Country (Germany, U.K., Italy, France, Spain, Russia, and Rest of Europe) - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028
Advanced metering infrastructure (AMI) is an integrated system of smart meters, communications networks, and data management systems that allows utilities and consumers to communicate in two directions. The system provides a number of important functions that were not previously possible or had to be performed manually, such as the ability to automatically and remotely measure electricity use, connect & disconnect service, detect tampering, identify & isolate outages, and monitor voltage. Moreover, growing demand for smart meters from industrial sector is driving the market growth during the forecast period. In industrial sector, advanced metering is adopted for gaining insights into energy consumption pattern, which further enables the organization to generate accurate load profiles for better resource planning and for better time-based billing. In addition to this, growing end-use industries such as automotive, manufacturing, healthcare, banking, construction, and energy and gas is expected to create lucrative opportunity for smart metering infrastructure market players. For instance, according to The Oxford Institute for Energy Studies, the demand for natural gas in European countries was 564 Bcm in 2020, and it is expected to rise to 618 Bcm in 2030, which would create lucrative demand for smart meters for gas consumption monitoring.
Market Dynamics
The emergence of disruptive technologies is driving the market growth during the forecast period. Disruptive technologies such as IoT (Internet of Things) and connected household devices have created growth opportunities for companies operating in the advanced metering infrastructure market. Moreover, increasing integration of IoT with smart grid poses major growth potential for market players over the forecast period.
Furthermore, industry 4.0 is mainly focused on digitization of manufacturing factories across Europe. Digitization also includes the adoption of smart meters for monitoring electricity consumption of manufacturing factories through an online portal or mobile application. This monitoring is expected to help manufacturers manage and control their electricity consumption. This is expected to generate lucrative growth opportunities for players operating in this market.
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