How is the Advanced Metering Infrastructure Market Poised for Growth: Trends and Opportunities Through 2034
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How has the advanced metering infrastructure market size evolved in recent years?
Over the past few years, there has been a significant expansion in the advanced metering infrastructure market. The market, which is projected to rise from $19.07 billion in 2024 to $22.32 billion in 2025, is expected to witness a compound annual growth rate (CAGR) of 17.0%. Factors such as rapid urbanization, surging energy demand, legal requirements for energy efficiency, utilization for reducing emissions, and improved operational efficiency within utility companies are all contributing to this growth during the historical period.
What are the predictions for the advanced metering infrastructure market size in the coming years?
In the coming years, it is anticipated that the advanced metering infrastructure market will experience significant expansion. The market is projected to reach $41.35 billion in 2029, with a 16.7% compound annual growth rate. This predicted rise during the forecast period is primarily because of heightened demands for smart electrical meters, a surge in power requirements, evolving government regulations, the reduction of energy losses, and the provision of real-time energy consumption data to users. The key market trends during this period are expected to be the adoption of end-to-end advanced metering infrastructure systems, a shift towards green energy sources, transitioning from automated meter reading (AMR) to advanced metering infrastructure (AMI) for improved efficiencies, the incorporation of smart grid technologies, and the use of prepayment services.
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What key factors are fueling the growth of the advanced metering infrastructure market?
The surge in power needs from nations undergoing rapid urbanization is projected to propel the expansion of the advanced metering infrastructure market. This rise in power demand is directly related to the escalating energy needs in countries witnessing swift urban evolution when individuals migrate from countryside to urban areas. The increase in power demand is stimulated by certain factors which include urbanization, industrialization, development in infrastructure, and government initiatives. Advanced metering infrastructure play an essential role in handling this increasing power demand by fostering energy effectiveness, lowering maximum demand, and improving the overall dependability and sustainability of the electrical grid. AMI allows electric utility suppliers to gain accurate details about energy utilization, automate their meter readings, and gather more data, thus providing valuable insights about the trends in energy consumption. For example, as per a 2022 report by the International Energy Agency (IEA), a France-based intergovernmental organization, the global energy investment is going to witness more than 8% hike in 2022 as compared to 2021, amounting to a total of $2.4 trillion. As a result, the escalating power demand in fast urbanizing nations is enhancing the growth of the advanced metering infrastructure market.
How is the global advanced metering infrastructure market divided into key segments?
The advanced metering infrastructure market covered in this report is segmented –
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
Subsegments:
1) By Solution: Hardware, Software
2) By Services: Installation And Deployment Services, Maintenance And Support Services, Consulting Services
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Who are the key firms paving the way for growth in the advanced metering infrastructure market?
Major companies operating in the advanced metering infrastructure market are Hitachi Energy Ltd., Siemens AG, General Electric Company, Cisco Systems Inc., Mitsubishi Electric Corporation, Schneider Electric SE, ABB Ltd., Toshiba Corporation, Eaton Corporation plc, Alstom SA, Delta Electronics Inc., Renesas Electronics Corporation, Wabtec Corporation, Diehl Stiftung & Co. KG, Sagemcom SAS, Tietoevry Corporation, Itron Inc., Landis+Gyr AG, Holley Technology Ltd., CRRC Corporation Limited, Aclara Technologies LLC, Kamstrup A/S, Genus Power Infrastructures Ltd., ZENNER International GmbH & Co. KG, Sensus
Which trends are expected to transform the advanced metering infrastructure market?
Key players in the advanced metering infrastructure market are driving innovation through the creation of products with advanced features such as secure data encryption and remote management capabilities. These attributes of advanced metering infrastructure systems are pivotal for protection against cyber threats, adherence to regulatory compliance, and the facilitation of effective remote operations and maintenance. For example, Honeywell International Inc., a multinational corporation based in the US, unveiled its Next Generation Cellular Module (NXCM) in May 2023. The NXCM revolutionizes traditional gas and water meters by transforming them into smart meters without requiring additional infrastructure, facilitated by the Advanced Metering Infrastructure (AMI). This eradicates the necessity for extra infrastructure and enables wireless connectivity through existent public cellular networks, augmenting monitoring, security, and analytical capacities for utility providers and their consumers. The NXCM aims to modernize meter networks while reducing expenses by creating an intelligent network that doesn’t necessitate replacing the current network. Furthermore, the NXCM is a dynamic and scalable solution for utility providers of all dimensions. It guarantees the secure transmission of data by employing advanced authentication techniques and AES-128 encryption, meeting the metering and data management regulatory standards.
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What regions are contributing significantly to the growth of the advanced metering infrastructure market?
Asia-Pacific was the largest region in the advanced metering infrastructure market in 2024. 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.
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