Smart Grid Meter Data Management (MDM) System Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth and Forecast 2015 - 2023
- Transparency Market Research
- November 2027
- 0 pages
Rapid growth in the global smart grid market is expected to propel growth in the global meter data management (MDM) system market. The increasing deployment of smart meters and advanced metering infrastructure technologies are likely to act as a catalyst to the market’s growth. A meter data management system allows easy information and technology integration of advanced metering infrastructure. It performs long term data storage and captures metering data from advanced metering infrastructure (AMI) head end systems and creates a complete system of record for the metering data. Furthermore, meter data management systems also facilitate the distribution of the meter data across the utilities.
The meter data management strategies are influenced by the vision, goals and objectives of smart grid. The meter data management system edits and validates the received data, then normalize, aggregate, and make the data available to IT applications. An MDM system often interfaces to application such as fraud prevention, billing, or outage management. A meter data management platform provides a platform for building service-oriented architectures (SOA) for rapid deployment and low-cost integration of new capabilities. As meter data management systems are the central collection point for the smart meter data several utilities across the globe prefer installation of a single meter data management system. The meter data management system solution includes meter and network asset monitoring and management, smart meter deployment planning and management, automated smart meter provisioning and billing reduction, workforce management system, asset management, meter-to-cash system and other systems.
The global market for meter data management system is rising and is expected to rise at a significant rate in the future. The market’s growth in the meter data management market is primarily driven by the accelerate deployment of smart meters and advanced metering infrastructure technologies. Additionally, an increased demand for reliable, quality, and safe power further accelerates growth in the global meter data management systems market. The meter data management system further creates an opportunity for distribution utilities to build intelligent applications across the enterprise. Moreover, incentives and efforts from government across the globe are likely to further act a catalyst to the market’s growth. Thus, the market is expected to rise at a significant rate in the future on account of factors mentioned above. However, identifying the role of technology and their value to utilities coupled with lack of robust standards for functionality and communication may hamper growth in the market. Furthermore, incomplete or immature service-oriented architectures at utilities rolling out the smart meters and advanced metering infrastructure may act as a barrier to the growth in the global meter data management systems market.
The global meter data management market is expected to register a significant growth in the future. Presently, North America driven by the on-going rapid deployment of smart metering technologies holds the largest market for meter data management system. Europe is a key region facilitating growth in the global meter data management market. The market growth in these regions is driven by support from government in the form of research and development of advanced metering infrastructure and other smart grid technologies. European Countries such as the UK and Germany are expected to drive the growth of this market. Ample growth opportunities exist in the meter data management market with a significant rise in the deployment of smart meters and other smart grid technologies.
Some of the key market players in Smart Grid Meter Data Management (MDM) Systems market are Aclara, Hansen Technologies, Oracle, Ecologic Analytics, eMeter, OSIsoft, MDUS, and SAP MDUS among others.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
Reasons for Buying this Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a six-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- It provides distinctive graphics and exemplified SWOT analysis of major market segments
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
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