Market Overview:
The global meter data management system market size reached US$ 279.9 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,135.1 Million by 2032, exhibiting a growth rate (CAGR) of 16.3% during 2024-2032.
Report Attribute
|
Key Statistics
|
Base Year
|
2023
|
Forecast Years
|
2024-2032
|
Historical Years
|
2018-2023
|
Market Size in 2023
|
US$ 279.9 Million |
Market Forecast in 2032
|
US$ 1,135.1 Million |
Market Growth Rate 2024-2032 |
16.3% |
A meter data management system (MDMS) refers to a software-based application that is used to collect readings from automated metering devices. It acts as a crucial component of the advanced metering infrastructure (AMI) that enables bidirectional communication between the meter and central management system. The system primarily includes smart meters that measure gas, electricity and water consumption, along with devices to import, validate and process data before it is used for analysis and final billing. In comparison to the traditionally used systems, MDMS enables the user to consolidate all consumption data under a single structure and manage both analog and interval data to optimize business processes.
The global market is primarily driven by the increasing deployment of smart grids, along with rapid urbanization across the globe. There is growing consumer demand, especially in the residential sector, for efficient data monitoring systems to manage the overall energy consumption and effectively track their utility bills. Furthermore, widespread adoption of advanced metering technologies for power outage management and enhancing grid reliability, are also providing a boost to the market growth. MDM systems can detect power outages and provide users with real-time updates based on their energy consumption. Additionally, the modernization of aging power infrastructure, especially in the developing economies, is creating a positive impact on the market growth. Other factors, including the integration of advanced metering systems with the cloud computing systems and Internet-of-Things (IoT), along with extensive research and development (R&D) activities, are projected to drive the market further.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
The global market is primarily driven by the increasing deployment of smart grids, along with rapid urbanization across the globe. There is growing consumer demand, especially in the residential sector, for efficient data monitoring systems to manage the overall energy consumption and effectively track their utility bills. Furthermore, widespread adoption of advanced metering technologies for power outage management and enhancing grid reliability, are also providing a boost to the market growth. MDM systems can detect power outages and provide users with real-time updates based on their energy consumption. Additionally, the modernization of aging power infrastructure, especially in the developing economies, is creating a positive impact on the market growth. Other factors, including the integration of advanced metering systems with the cloud computing systems and Internet-of-Things (IoT), along with extensive research and development (R&D) activities, are projected to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global meter data management system market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on component type, utility type, application, deployment type and end-user.
Breakup by Component Type:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
- Hardware
- Software and Services
Breakup by Utility Type:
Breakup by Application:
- Smart Grid
- Microgrid
- Energy Storage
- EV Charging
- Others
Breakup by Deployment Type:
Breakup by End-User:
- Residential
- Commercial
- Industrial
Breakup by Region:
To get more information on the regional analysis of this market, Request Sample
- North America
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Middle East and Africa
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being 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 Holdings Inc., etc.
Report Coverage:
Report Features |
Details |
Base Year of the Analysis |
2023 |
Historical Period |
2018-2023 |
Forecast Period |
2024-2032 |
Units |
US$ Million |
Segment Coverage |
Component Type, Utility Type, Application, Deployment Type, End-User, Region |
Region Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered |
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 and Trilliant Holdings Inc. |
Customization Scope |
10% Free Customization |
Report Price and Purchase Option |
Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899 |
Post-Sale Analyst Support |
10-12 Weeks |
Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
- How has the global meter data management system market performed so far and how will it perform in the coming years?
- What are the key regional markets?
- What has been the impact of COVID-19 on the global meter data management system market?
- What is the breakup of the market based on the component type?
- What is the breakup of the market based on the utility type?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the deployment type?
- What is the breakup of the market based on the end-user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global meter data management system market and who are the key players?
- What is the degree of competition in the industry?