Meter Data Management System Market Revenue Growth and

According to IMARC Group’s latest report, titled “Meter Data Management Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027”, the global Meter Data Management Systems market of meters is expected to register a CAGR of 19.7% during 2022-2027. A meter data management system (MDMS) refers to software used to import, validate and store data provided by smart meter systems. It includes smart meters that measure gas, electricity and water consumption and process the acquired data before it is used for final billing. It allows the user to consolidate and manage consumption data under a single structure and optimize business processes. It also helps prevent fraudulent activity, detect energy theft, estimate meter readings, and improve overall efficiency. As a result, MDMS is widely adopted in commercial and residential sectors across the world.

We regularly monitor the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.

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Market Trends and Drivers:

The meter data management system market is mainly driven by the growing deployment of smart grids and rapid urbanization across the globe. Furthermore, the widespread adoption of advanced metering technologies capable of detecting power failure and providing real-time updates based on power consumption is also contributing to the growth of the market.

Various key players are integrating advanced technologies, such as cloud computing, machine learning (ML) and Internet of Things (IoT), with metering systems to improve operational planning and increase overall energy savings. This, coupled with the growing demand for efficient residential sector data monitoring systems to manage overall energy consumption and track utility bills, is creating favorable market prospects across the globe. Furthermore, significant developments in power infrastructure in developing economies, growing need for predictive analytics, and ongoing research and development (R&D) activities are some of the other factors propelling the growth of the market.

Meter Data Management System Market 2022-2027 Competitive Landscape and Segmentation:

Competitive landscape with key players:

The competitive landscape of the Meter Data Management System Market has been studied in the report along with the detailed profiles of key players operating in the market.

Some of these key players include:

ABB Ltd.
Aclara Technologies LLC
Arad Group
Diehl Stiftung & Co. KG
Eaton Corporation Inc.
Elster Group GmbH
Honeywell International Inc.
Itron Inc.
Kamstrup
Landis+Gyr
Oracle Corporation
Schneider-Electric
Siemens
Trilliant Management Inc.

Key Market Segmentation:

The report has segmented the global meter data management system market on the basis of component type, utility type, application, deployment type, end user, and region.

Breakdown by type of component:

Material
Software and services

Breakdown by type of service:

Electricity
Gas
Water

Breakdown by application:

Smart Grid
Micro-grid
Energy Storage
EV charging
Others

Breakdown by type of deployment:

Cloud-based
On the site

Breakdown by end user:

Residential
Commercial
Industrial

Breakdown by region:

North America (USA, Canada)
Asia-Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Latin America (Brazil, Mexico, others)
Middle East and Africa (Egypt, United Arab Emirates, Saudi Arabia, Turkey, Qatar, Iran, Others)

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Main highlights of the report:

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market trends
Market drivers and success factors
Impact of COVID-19
Value chain analysis
Complete mapping of the competitive landscape

If you need specific information that is not currently covered in the report, we will provide it to you as part of the customization.

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The IMARC Group is a leading market research firm providing management strategies and market research worldwide. We partner with clients across all industries and geographies to identify their most important opportunities, address their most critical challenges and transform their businesses.

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This press release was published on openPR.

Ramon J. Espinoza