According to a newly updated analysis by Fact.MR, the global market for advanced metering infrastructure is predicted to grow at a CAGR of 9% to reach US$ 16.57 billion by the end of the forecast period of 2022–2032. The expansion of the AMI market can be attributed to several factors, including increasing power consumption, technical advancements in power generation, and the depletion of non-renewable energy sources, to name a few.
In rising and developing nations, the power demand has drastically increased as a result of their rapid industrial growth. The market for sophisticated metering infrastructure is being impacted by the ongoing changes in rules and regulations governing power generation and distribution. AMI sales climbed at a CAGR of 7% from 2017 to 2021.
Manufacturers are putting a lot of effort into implementing AMI and creating a network for enhanced power management and distribution to achieve maximum efficiency. Sustainability is a key factor influencing the trajectory of the global advanced metering infrastructure market and is anticipated to be a significant trend over the following ten years.
Important conclusions from the market study
- By the end of 2022, the market for advanced metering infrastructure will be worth $7 billion.
- The AMI market is anticipated to expand in China at a fantastic CAGR of more than 13%.
- Sales of contemporary metering infrastructure are anticipated to be boosted by smart electric meters.
- It is anticipated that privatization and liberalization will hasten the AMI industry’s global expansion.
- Manufacturers are concentrating on standardization for intelligent designs that will adhere to the majority of regulatory laws in different nations.
The U.S. has strengthened its advanced metering infrastructure thanks to financing provided by the American Recovery and Reinvestment Act (ARRA) for the Smart Grid Investment Grant (SGIG) program. The country’s demand for smart meters is anticipated to increase as AMI becomes more widely used in newly constructed residences.
The number of residences in the United States reflects the potential market size for utilities that provide gas, and sales of smart gas meters are anticipated to increase as more new homes are constructed. As demand grows, smart gas meter manufacturers in the US are looking to capitalize on this opportunity. The U.S. market is projected to grow at a 10% CAGR.
Competitive Environment
Some of the top AMI market players, including Cisco Systems Inc., International Business Machines Corporation, General Electric, Schneider Electric SE, and others, have been highlighted in this study report.
- Itron, a provider of IoT solutions, recently unveiled a new household smart power meter for the German market with the promise of assisting in the transition to renewable energy.
- In August 2021, more than 200,000 smart meters will be installed in Delhi, the capital of India, according to an announcement made jointly by Siemens and Tata Power Delhi Distribution Ltd (Tata Power-DDL).
