Advanced Metering Infrastructure Market Share

Global Advanced Metering Infrastructure (AMI) Market Overview

The Advanced Metering Infrastructure (AMI) Market Size was valued at USD 27.69 Billion in 2023. Advanced Metering Infrastructure (AMI) Market industry is projected to grow from USD 30.33 Billion in 2024 to USD 58.26 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.50% during the forecast period (2024 - 2032). Advanced Metering Infrastructure (AMI) is a system of smart meters, communication networks, and data management systems that are used for measuring, collecting, and analyzing data on energy consumption in real time. The main goal of AMI is to provide utilities with detailed and accurate information on energy usage, which enables them to better manage their distribution networks, reduce energy waste, and improve customer service. In addition to providing more accurate and timely energy usage data, AMI can also help utilities to identify energy efficiency opportunities and detect and prevent power outages. Additionally, it can provide customers with real-time information on their energy usage, enabling them to take more control over their energy consumption and potentially reduce their energy bills.

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Advanced Metering Infrastructure (AMI) Market Trends

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  Increase in the generation of energy

  
  

As the energy demand continues to rise, utilities are under pressure to improve their energy distribution networks and provide reliable and efficient energy services to their customers. AMI is seen as a key technology for achieving these goals, as it provides real-time data and insights on energy usage, which can be used to optimize energy distribution, reduce energy waste, and improve customer service. In addition, the increasing adoption of renewable energy sources, such as wind and solar power, is also expected to drive the growth of the AMI market. Renewable energy sources can be unpredictable and can fluctuate rapidly, and utilities need real-time data and insights to manage these fluctuations and ensure a reliable energy supply. AMI provides the real-time data and analytics capabilities that are needed to manage this dynamic energy landscape. The growing demand for energy and the increasing adoption of renewable energy sources are driving the growth of the market.

Advanced Metering Infrastructure (AMI) Market Segment Insights

Advanced Metering Infrastructure (AMI) Device Type Insights

The market segmentation, based on Device Type, includes Smart electric meters, Smart water meters, Smart gas meters, Advanced communication modules, and Others. The Advanced communication modules segment will dominate the market. Advanced communication modules, such as cellular and wireless networks, provide the real-time, secure, and reliable data transmission that is required for AMI systems to operate effectively. These communication modules also offer greater coverage and reach compared to traditional communication methods, such as power line communication (PLC) and radio frequency (RF), making them well-suited for large-scale AMI deployments.

Advanced Metering Infrastructure (AMI) Service Type Insights

Based on Service Type, the market segmentation includes System integration, Meter deployment, AMI management, AMI consulting, and Others. System integration is anticipated to dominate the market over the forecast period. System integration is a critical component of AMI, as it enables utilities to achieve the full benefits of the technology, such as real-time data and insights on energy usage, improved energy distribution, and customer service, and reduced energy waste.

Figure 2:  Advanced Metering Infrastructure (AMI) Market, by Service Type, 2022 & 2030 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Advanced Metering Infrastructure (AMI) Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The market for advanced metering infrastructure will be dominated by the North American area, and the growing use of smart grid technologies is cited as the cause. Another factor driving the expansion of the advanced metering infrastructure market in the North American area is the region's growing population and the number of water and energy applications. Additionally, the European region's superior metering infrastructure will accelerate this market's global expansion. Due to increased end-user demand for smart meters and the implementation of tight rules and policies for their adoption, the Asia Pacific region will also experience notable development during the projection period.

Figure 3:  ADVANCED METERING INFRASTRUCTURE (AMI) MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth. With significant market development such as new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Advanced Metering Infrastructure (AMI) industry must offer affordable products.

Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the  Advanced Metering Infrastructure (AMI) industry to benefit customers and expand the market sector. Major market players, including Cisco Systems Inc, General Electric, Schneider Electric, and ITRON Inc, are attempting to increase market demand by funding R&D initiatives.

Cisco Systems develops and markets a variety of technologies for networking, security, teamwork, apps, and the cloud. It provides products for wireless, data centers, switching, routing, cloud, and email security, identity and access management, threat prevention, and unified threat management, as well as cloud and system management.

Schneider Electric is an industrial automation and energy management firm that offers hardware, software, and services. It provides a comprehensive range of solutions in building automation and control, grid automation, critical power and cooling, industrial automation and control, energy access, solar and energy storage, low voltage products and systems, and so on. The company serves commercial real estate, automotive, data centers and networks, life sciences, healthcare, retail transportation, and other markets.

Key Companies in the Advanced Metering Infrastructure (AMI) market include

• Cisco Systems Inc


• General Electric


• Schneider Electric


• ITRON Inc


• ACLARA technologies


• ELSTER group


• SENSUS


• Tieto Corporation


• Renesas Electronics Corporation


• Cooper industries


• Siemens

Advanced Metering Infrastructure (AMI) Industry Development

November 2022: Renesas Electronics Corp. has begun using NanoLock Security, a technology that delivers zero-trust meter-level cyber security protection for smart meter devices. With the support of this innovative technology, Renesas' clients, particularly smart meter makers, can swiftly design a product that is secure from all attack vectors, including insider manipulation and human mistake, without delaying time to market or meter operations.

July 2022: ITRON, Inc. announced the establishment of the Iron Engage Sales Channel Partner Program for utilities and municipalities in Asia-Pacific. With the aid of Itron Engage's expansion, trustworthy, highly skilled partners now have access to the tools, support, and training they need to apply Iron's solutions to benefit their customers and improve energy and water management.

Advanced Metering Infrastructure (AMI) Market Segmentation

Advanced Metering Infrastructure (AMI) Device Type Outlook

• Smart electric meters


• Smart water meters


• Smart gas meters


• Advanced communication modules


• Others

Advanced Metering Infrastructure (AMI) Service Type Outlook

• System Integration


• Meter Deployment


• AMI management


• AMI consulting


• Others

Advanced Metering Infrastructure (AMI) Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America