London, 12 May 2015: Technavio, the independent tech-focused global research firm, has published a report on the global meter data management (MDM) market 2015-2019, which is predicted to post a CAGR of 27.4% from 2015-2019.
The adoption of MDM solutions by power utilities has helped enhance the AMI platform, while improving operational efficiency, energy projection, distribution system dependability, and regulatory compliance. The MDM and smart grid industries in China and India have seen considerable growth, driven by large-scale investments from international vendors.
“Utilities all over the world have begun to adopt smart meters to realize the overall goal of creating a smart grid system,” says Faisal Ghaus, Vice President of Technavio.
“A majority of utility companies are in the process of achieving an end-to-end solution to manage energy effectively. Many developed countries are aiming to achieve an end-to-end solution by 2020.”
Key Market Drivers
- Need to reduce electricity theft
- Need for high billing accuracy
- Better financial planning
- Introduction of usage-based tariff plans
Key Market Trends
- Support from regulatory authorities
- Increase in smart grid installations
- Preference for wireless smart energy meters over wired meters
- End-to-end solutions for better energy management
Key Market Vendors
- Elster Group SE
- Itron Inc.
- Landis+Gyr AG
- Oracle Corp.
- Siemens AG.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
