iCrowd Newswire
15 Jan 2021, 05:45 GMT+10
Market Analysis
The global meter data management market is predicted to touch USD 430 million at a 4.21% CAGR between 2019- 2024, states the recent Market Research Future (MRFR) analysis.
A meter data management system or MDMS, simply put, is a software-based application that is used for collecting readings from an automated metering device. EV charging, microgrid energy storage, smart grid, and others are some of its key applications.
Various factors are propelling the global meter data management market share. According to the recent MRFR report, such factors include increasing adoption of smart meters, growing implementation of advanced metering technology, worldwide energy demand, legislative compliances towards metering drive, and favorable government policies. Additional factors adding market growth include a rise in smart city initiatives, accurate monitoring of electricity, water, and gas usage, improve customer and billing service, legislative mandates for smart meters, and growing government policies.
On the contrary, high installation costs, high integration, consulting, upgradation, and maintenance costs, integration issues, security concerns like data protection and remote access, unawareness among consumers, and the on-going COVID-19 pandemic are factors that may impede the global meter data management market growth over the forecast period.
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Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global meter data management market based on end use, application, utility type, and component.
Regional Analysis
Based on the region, the global meter data management market report covers the recent trends and growth opportunities across the Asia Pacific (APAC), North America, Europe, & the Middle East and Africa (MEA). Of these, North America will spearhead the market over the forecast period. The growing installation of smart meters, increasing investments in smart meters, and rising installation to reduce greenhouse gas emissions are adding to the global meter data management market growth over the forecast period.
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The global meter data management market in Europe is predicted to hold the second-largest share over the forecast period. The increasing rollout of smart meters in Sweden and Italy is adding to the global meter data management market growth in the region.
The global meter data management market in the APAC region is predicted to grow at a fast pace over the forecast period. The increasing use of EVs and favorable initiatives to adopt these systems are adding to the global meter data management market growth in the region.
The global meter data management market in the MEA is predicted to have sound growth over the forecast period.
Key Players
Table Of Contents
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope Of The Study
2.3 Market Structure
3 Research Methodology
3.1 Primary Research
3.2 Secondary Research
3.3 Market Size Estimation
3.4 Forecast Model
3.5 List Of Assumptions
3.6 Limitations Of The Study
Continued…
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About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Contact
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Tags: METER DATA MANAGEMENT, METER DATA MANAGEMENT MARKET, METER DATA MANAGEMENT MARKET SIZE, METER DATA MANAGEMENT MARKET SHARE, Meter Data Management Market 2021, Meter Data Management Market Forecast, Meter Data Management Market Analysis, Meter Data Management Market 2020
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