asia pacific meter data management system Market

The meter data management system market in Asia-Pacific is expected to grow from US$ 185.3 Mn in 2018 to US$ 603.5 Mn by the year 2027 at a CAGR of 15.9% during the forecast period.

The ever-growing electric vehicle charging further increases energy demand. The carbon release due to EV charging is leading to critical environmental concerns. Apart from environmental and economic reasons, the most important driving force of the EV market is strong policies, such as legislation, benefits, and rebates from various governments. Additionally, the rapid growth of electric vehicles definitely increases energy demand. The extra energy demand for EV further increases the peak demand and causes the distribution of circuit congestion. Thus, increasing the demand for meter data management system during the review period.

Smart meter technology helps to save for both utilities and consumers. Additionally, most utilities are investing in the new technology due to government mandate. Many countries have passed legislation mandating the adoption of smart meters as part of broader
On the basis of end user the commercial segment led the APAC market in 2018 with a good market share and is expected to continue its dominance during the forecast period. The growth of commercial segment can be attributed to the rising mandated rollout of smart meters in the commercial and residential sectors across Asia-Pacific.

The overall Asia-Pacific meter data management system market size has been derived using both primary and secondary sources. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Asia-Pacific meter data management system market. It also provides an overview and forecast for the meter data management system based on all the segmentation provided with respect to the Asia-Pacific region. Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the mater data system industry. Some of the players present in meter data management system are ABB Ltd, Eaton Corporation, Honeywell International, Inc, among others.