Global Smart Electricity Meter Data Management Growth Opportunities
The global penetration rate for smart metering is forecast to increase from just over 40% at the start of 2022 to 65% by 2030. This growth will lead to an increased demand for meter data management (MDM) software. First-generation meters largely focus on basic functions such as billing and time-of-use pricing. With the growth of decentralized energy, more renewable energy sources, electric vehicles, heat pumps, battery energy storage systems, etc., will be connected to the grid. All of this will require management for the grid to continue to function effectively. Smart meters will essentially become load management devices, and this will require more functionalities and higher per-meter revenues from MDM manufacturers.
The replacement of existing smart meters with next-generation meters will also be a priority. Countries that installed smart meters early on, like Italy, Sweden, Finland, and Denmark, have already started replacing their metering devices. Utilities in the United States, Canada, Spain, and Japan will follow suit over the course of the decade.
The study lists the countries that are the key to growth and pinpoints the factors that will drive and restrain the development of this market. It concludes by identifying the key growth opportunities emerging from this market for stakeholders and key players to leverage.
KEY ISSUES ADDRESSED:
What are the key drivers and restraints that impact the growth of the MDM market?
Which regions and countries offer the best prospects for growth during the forecast period?
What are the growth opportunities? Where do they exist for the market participants?
Who are the key participants in the MDM ecosystem?
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