Meter Data Management System Market Report, Global Size, Growth and Industry Trends 2022-2027

The latest report published by IMARC Group, titled "Meter Data Management System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," offers a comprehensive analysis of the industry, which comprises insights on the meter data management system market share. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global meter data management system market is expected to exhibit a CAGR of 19.7% during 2022-2027.

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Industry Overview and Application:

A meter data management system (MDMS) refers to software used to import, validate, and store data delivered by smart metering systems. It includes smart meters that measure gas, electricity and water consumption and process the acquired data before it is used for final billing. It enables the user to consolidate and manage consumption data under a single structure and optimize business processes. It also assists in preventing fraudulent activities, detecting energy theft, estimating meter readings, and enhancing overall efficiency. As a result, MDMS is extensively adopted across commercial and residential sectors across the globe.

Market Trends and Drivers:

The meter data management system market is primarily driven by the increasing deployment of smart grids and rapid urbanization across the globe. Besides this, the widespread adoption of advanced metering technologies that can detect a power outage and provide real-time updates based on the energy consumption is also contributing to market growth.

Various key players are integrating advanced technologies, such as cloud computing, machine learning (ML) and Internet-of-Things (IoT), with metering systems to improve operational planning and increase the overall energy saving. This, coupled with the escalating demand for efficient data monitoring systems from the residential sector to manage the overall energy consumption and track utility bills, is creating a favorable market outlook across the globe. Furthermore, significant developments in the power infrastructure across the developing economies, the rising need for predictive analytics, and ongoing research and development (R&D) activities are some of the other factors propelling the market growth.

Meter Data Management System Market 2022-2027 Competitive Landscape and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the meter data management system market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• 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.

Key Market Segmentation:

The report has segmented the global meter data management system market on the basis of component type, utility type, application, deployment type, end-user and region.

Breakup by Component Type:

• Hardware
• Software and Services

Breakup by Utility Type:

• Electricity
• Gas
• Water

Breakup by Application:

• Smart Grid
• Microgrid
• Energy Storage
• EV Charging
• Others

Breakup by Deployment Type:

• Cloud-based
• On-premises

Breakup by End-User:

• Residential
• Commercial
• Industrial

Breakup by Region:

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

Ask Analyst for Customization and Explore Full Report With TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=2122&flag=C

Key Highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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This release was published on openPR.