Rise in penetration of Internet of Things (IoT) and increase in demand for AMI communications drive the growth of the global Advanced Metering Infrastructure (AMI) market.
Portland, OR, Oct. 18, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Advanced Metering Infrastructure (AMI) market was estimated at $17.1 billion in 2020 and is expected to hit $52.4 billion by 2030, registering a CAGR of 12.0% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Rise in penetration of Internet of Things (IoT) and increase in demand for AMI communications drive the growth of the global AMI market. At the same time, increase in requirement for low-bandwidth, low-cost, and delay-insensitive metering is expected to create lucrative opportunities in the industry.
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The outbreak of the pandemic led to several restrictions in the transportation sector, resulting in reduced industrial production and disrupted supply chains, which affected global economic growth by a substantial proportion, thereby impacting market growth negatively.
However, as the global situation is getting better, the market is anticipated to revive soon.
The global AMI metering market is analyzed across smart metering device, solution, service, end-user, and region. Based on smart metering device, the electricity segment accounted for the major share in 2020, holding nearly three-fifths of the global market. The water segment, however, would grow at the fastest CAGR of 14.0% throughout the forecast period.
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Based on solution, the software segment generated the highest share in 2020, accounting for more than four-fifths of the global market. The same segment is also projected to manifest the fastest CAGR of 12.2% from 2021 to 2030.
Based on region, the market across Europe held the lion’s share in 2020, garnering more than half of the global market. The market across Asia-Pacific, simultaneously, is expected to cite the fastest CAGR of 13.1% by the end of 2030. The other provinces studied in the report include North Europe and LAMEA.
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The key market players analyzed in the global Advanced Metering Infrastructure (AMI) market report include Itron, Eaton Corporation, Echelon Corporation, Siemens AG, Dynosonic, General FElectric, Cisco Systems, Inc., IBM Corporation, Schneider Electric SE, and Sensus. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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