Insights Into The Advanced Metering Infrastructure Market’s Growth Potential 2024-2033
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What Growth Rate is Forecasted for the Advanced Metering Infrastructure Market over the 2024-2033 Period?
The advanced metering infrastructure market has grown significantly, from $16.37 billion in 2023 to $19.07 billion in 2024 at a CAGR of 16.5%. Growth drivers include rapid urbanization, increased energy demand, regulatory energy efficiency mandates, emissions reduction efforts, and improved operational efficiency for utilities.
The advanced metering infrastructure market is anticipated to grow rapidly, reaching $35.43 billion in 2028 at a CAGR of 16.7%. This growth is driven by demand for smart electric meters, increasing power needs, regulatory changes, reduced energy losses, and real-time energy usage insights for consumers. Trends include deployment of end-to-end solutions, a shift towards renewable energy, transition from AMR to AMI, smart grid technology integration, and adoption of prepayment solutions.
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Which Factors Are Stimulating Growth in the Insights Into The Advanced Metering Infrastructure Market’s Growth Potential 2024-2033 Market?
Growing power demands in urbanizing nations are expected to drive the advanced metering infrastructure market. This demand is fueled by urbanization, industrialization, and infrastructure development. Advanced metering infrastructure helps manage this growing need for energy by promoting efficiency and reliability in electricity distribution. For example, Exxon Mobil Corporation projected a 30% increase in transportation-related energy demand from 2021 to 2050, while the International Energy Agency reported that global energy investment would rise over 8% in 2022 to reach $2.4 trillion. Hence, the increasing power demand is propelling the advanced metering infrastructure market.
What Are the Main Segments of the Advanced Metering Infrastructure Market?
1) By Type: Solution; Services
2) By Meter Type: Water Meter; Electricity Meter; Gas Meter; Heat Meter
3) By Connectivity: Wired; Wireless
4) By End-User: Residential; Commercial; Industrial
What Innovative Trends Are Redefining the Advanced Metering Infrastructure Landscape?
Major companies in the advanced metering infrastructure market are innovating with features like secure data encryption and remote management to improve market competitiveness. In May 2023, Honeywell launched its Next Generation Cellular Module (NXCM), enabling smart meter conversion without additional infrastructure, enhancing monitoring and analytics for utility providers.
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Which Regions Are Key Players in the Growth of the Advanced Metering Infrastructure Market?
Asia-Pacific was the largest region in the advanced metering infrastructure market in 2023. It is expected to be the fastest growing region in the market. The regions covered in the advanced metering infrastructure market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Advanced Metering Infrastructure Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the advanced metering infrastructure market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Advanced Metering Infrastructure Market Include
1. Advanced Metering Infrastructure Market Executive Summary
2. Advanced Metering Infrastructure Market Segments
3. Advanced Metering Infrastructure Market Size And Template Market Growth Rate
4. Key Advanced Metering Infrastructure Market Trends
5. Major Advanced Metering Infrastructure Market Drivers
……
25. Key Mergers And Acquisitions In The Advanced Metering Infrastructure Market
26. Top Advanced Metering Infrastructure Companies
27. Advanced Metering Infrastructure Market Opportunities And Strategies
28. Advanced Metering Infrastructure Market, Conclusions And Recommendations
29. Appendix
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