The need for smart grids is universally accepted by utility companies. A smart grid plays an important role in addressing the shortfall of supply in the face of growing electricity demand. Therefore, it is necessary to build intelligence into the electrical grid network to provide energy more efficiently, as companies cannot simply directly increase their output sufficiently to meet this demand. Smarter, more efficient allocation of the supply is required. Smart meters thus help the utility companies to better manage their energy and reduce the need for investment in new generating capacity.
Meter data management (MDM) allows the utility companies to store and analyze the energy usage data collected from customers. Companies that install these advanced meters invest in meter data management to provide storage for the large number of meter readings that will be collected from these meters every year. If utility companies opt for storing hourly or 15 minute intervals of data, this results in storing 8760 (hourly) or 35,000 (15 minute) meter readings for a year, compared to 12 readings per year through manual meter reading. It is essential for utility companies to invest in MDM systems to store and analyze such large amounts of data.
The basic function of the advanced meters is two-way communication. It enables utility companies to remotely read the meter data and control the usage of the customers. Data collection from advanced meters is generally achieved through Local Area and Wide Area Networks (LAN and WAN, respectively). There will be usage and maintenance charges that utility companies have to pay for data transmission through these networks, and, in order to get meter interval data, it is essential for utility companies to invest on the communication infrastructure. Therefore, remote meter reading necessitates investment for Advanced Metering Infrastructure (AMI) and communication infrastructure.
GlobalData’s “Advanced Metering Infrastructure (AMI): Smart Grid Global Opportunity Analysis” provides in-depth analysis of the opportunities in the Global Advanced Metering Infrastructure Market. The report provides key drivers and restraints impacting different market segments within Advanced Metering Infrastructure. The report also includes market size, forecasts and cost analysis by region and for top 10 key countries in the world. It also provides market share analysis of key players in the AMI Smart Meters Market. The global Advanced Metering Infrastructure market is expected to show high growth during the forecast period 2010-2020. Market regulations and investment grants by governments are the major drivers of growth for the penetration of smart meters in the global market. In terms of geographic region, North America and the European region is expected to lead the growth during 2010-2015, while the Asia Pacific region is likely to lead the growth during 2016-2020. The Rest of World region is expected to have a moderate growth through out the forecast period. The growth in the North American Advanced Metering Infrastructure market is primarily driven by the initiatives and support provided by the government through investments in research and development of smart grid technologies. Therefore, the region is expected to exhibit high growth during the period 2010-2013.
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