Advanced Metering Infrastructure (AMI) Market to reach $28.45 Billion by 2018 at a CAGR of 12.4% - New Report by MarketsandMarkets
(PRWEB) July 08, 2013 -- The report "Advanced Metering Infrastructure (AMI) Market [Smart Meters; Communications; Energy Management Devices; Meter Data Management (MDM); Meter Communication Infrastructure (MCI); Security; Analytics]: Worldwide Market Forecasts and Analysis (2013 - 2018)" defines and segments the global AMI market into various sub-segments with an in-depth analysis and forecasting of the market segments.
The report also identifies the factors driving this market, identifying opportunities along with the technology roadmap and adoption trends. MarketsandMarkets broadly segments the Advanced Metering Infrastructure (AMI) market by regions: North America (NA), Asia Pacific (APAC), Europe (EU), Middle East and Africa (MEA), and Latin America (LA).
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The need for deploying smart grid technologies and implementing smart energy practices is playing a cardinal role in shaping the future of AMI market. Major AMI vendors such as Itron and Landis+Gyr are focused on providing end-to-end integrated services to utilities from hardware and network endpoints to Meter Data Management (MDM), AMI system integration and AMI managed services. Although the AMI implementation cost is heavily dominated by hardware endpoint, system integration, meter data analytics and MDM as a Service market is expected to surge.
The major forces driving this market are regulatory mandates, increasing global energy demand and the need to improve utility efficiency and customer service level. Other factors that are responsible for increase in rollouts of AMI-enabled meters are development and outset of smart grid technologies, increasing regional trends of housing, and emergence of energy management.
Each of these sub-market is further segmented by hardware: smart meters, communication modules, and energy management devices; by solutions: AMI security, Meter Data Management (MDM), analytics, and Meter Communication Infrastructure (MCI); by users: residential, commercial and industrial; by applications: Home Energy Management (HEM) and Electric Vehicle (EV) Support; by services: managed, consulting, deployment and system integration;
MarketsandMarkets forecasts the global Advanced Metering Infrastructure (AMI) market is estimated to grow from $15.89 billion in 2013 to $28.45 billion in 2018, at a compounded annual growth rate of 12.4%. In terms of regions, the Europe Union is expected to be the biggest market in terms of revenue contribution, while Asia-Pacific (APAC) is expected to experience increased market traction, during the forecast period.
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