north america meter data management system Market

The meter data management system market in North-America is expected to grow from US$ 346.6 Mn in 2017 to US$ 1077.4 Mn by the year 2027 at a CAGR of 13.1% during the forecast period.

The meter data management solutions provide transparency for the utilities and municipalities, and thereby enable significantly increased efficiency in reading, billing and service processes. The government of various countries are adopting the momentum of smart cities thereby, investing in the development of internet infrastructure in the countries with an aim to bring robust urbanization. The US is experiencing a huge growth in numbers of cities transforming to smart cities especially focused on energy, traffic, and transportation.

The lack of interoperability can impact investments and synergies and lead to additional costs for a redesign. To ensure interoperability, the meter data management system has to provide interfaces for all types of collected data which includes performance and scalability to process huge amount of data, reliability the processing of meter data is a business-critical service of utilities, backup, and recovery to prevent data loss, and security and data privacy to fulfill all directives set by regulators. Therefore, lack of interoperability are expected to impact the mater data management system market.

On the basis of offering, software held a significant share of the North America meter data management system market. Smart meters are the next-generation metering devices that are utilized for obtaining energy consumption feedbacks, manage, monitor, and further send this feedback to the billing management system. These devices allow bidirectional communication between the central management system and the meter. The meter data management system offers numerous advantages over the tradition metering system comprising estimate meter readings, detection of energy theft, and overall better energy efficiency Some of the key features of these systems include rich CIS integration architecture, data capture from multiple sources, a consolidated interface for data management, automated data synchronization across utility systems, and others.

The overall North America 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 North America 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 North America 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.