AMI Meters Market Size - By Product (Electric, Water, Gas), By Application (Residential, Commercial, Utility) & Global Forecast, 2023 - 2032

AMI Meters Market Size - By Product (Electric, Water, Gas), By Application (Residential, Commercial, Utility) & Global Forecast, 2023 - 2032

Global AMI Meters Market will witness 13.8% CAGR between 2023 and 2032. The increasing need for efficient energy management and conservation is pushing utilities to adopt smart metering solutions. AMI meters enable real-time monitoring and data analysis, empowering consumers to make informed decisions about their energy consumption. Its widespread usage among companies to produce optimized results further supports the AMI meters industry.

For instance, in September 2023, Rhythmos leveraged data collected from 250,000 Advanced Metering Infrastructure (AMI) meters to deliver energy network management solutions to KUB. The swift implementation of Rhythmos in partnership with the Knoxville Utilities Board involved a collaborative effort with the Tennessee Valley Authority and EPRI through the Incubatenergy Labs program. This will enable KUB to optimize its electric vehicle (EV) charging capabilities.

Government regulations and environmental concerns are driving the adoption of AMI meters. Many countries are setting ambitious energy efficiency targets and promoting smart grid initiatives, making AMI meters essential for achieving these goals. Advancements in technology, such as IoT integration and data analytics, are enhancing the capabilities of AMI meters, making them more appealing to both utilities and consumers. These factors collectively contribute to the rapid growth of the AMI meters market outlook.

The overall AMI Meters Market is classified based on product, application, and region.

By product, the water meters segment will witness over 29.3% CAGR from 2023 to 2032. Water scarcity and the need for efficient resource management have spurred utilities to adopt smart metering solutions. AMI water meters enable real-time tracking of water consumption, leak detection, and remote monitoring, aiding in conservation efforts and reducing wastage. Government regulations and sustainability goals further drive the demand for AMI water meters. As the world grapples with water resource challenges, the contribution of water meters to AMI meters market revenue is set to expand.

Regarding application, the AMI meters market share from the commercial segment will expand at over 13.5% CAGR from 2023 to 2032. Businesses and organizations are recognizing the benefits of AMI meters for precise monitoring and control of utility consumption. These meters offer real-time data, enabling efficient resource management, cost reduction, and sustainability efforts. Moreover, regulatory requirements and environmental consciousness are driving the adoption of AMI meters in commercial settings. As businesses strive for operational efficiency and environmental responsibility, the AMI meters market demand in the commercial sector continues to rise.

North America AMI meters industry will showcase over 18.1% CAGR from 2023 to 2032. Factors like the aging utility infrastructure, a focus on energy efficiency, and increasing environmental concerns are driving this demand. North American governments and utilities are actively investing in modernizing their grids, which includes the deployment of AMI meters. These meters enable efficient energy management, reduce operational costs, and empower consumers with data-driven insights. As the region continues to prioritize smart grid initiatives and sustainability, the AMI meters market outlook in North America remains robust.