Jul 13, 2022   SOURCE: BusinessWire

Insights on the Smart Meter Data Management Global Market to 2028 - Featuring Oracle, Itron and Siemens Among Others - ResearchAndMarkets.com

The "Global Smart Meter Data Management Market Size, Share & Industry Trends Analysis Report By Component, By Application, By Deployment Mode, By Regional Outlook and Forecast, 2022 - 2028" report has been added to ResearchAndMarkets.com's offering.

The Global Smart Meter Data Management Market size is expected to reach $3.2 billion by 2028, rising at a market growth of 17.5% CAGR during the forecast period.

Smart meter data management is a kind of software that validates, stores, and makes pre-processed meter data available to business applications upstream. Also, smart meters are utilized by a variety of major suppliers for a variety of objectives, including assisting businesses with revenue management by increasing meter and billing quality, giving correct bills to end users, and assisting consumers with energy saving. Detecting energy theft, estimating meter readings, and improving overall energy efficiency are all advantages of the smart meter management system over the old metering system.

The process of collecting, storing, and managing enormous amounts of data from various smart metering devices, such as water meters and gas meters, can be performed with smart meter data management.

Moreover, it assists organizations in gathering, storing, and processing various forms of data in order to assist enterprises in dealing with the growing number of data and gives important information for gaining superior insights. Smart meter data management software also minimizes human errors and offers real-time data on smart meters. Furthermore, this software includes modules such as a meter-to-cash system, a labour management system, asset management, and other tools that assist enterprises in managing massive quantities of smart meter information efficiently and rapidly.

Some of the growth factors for the industry are the necessity for grid stability and outage management, severe government regulations and legislative mandates for smart metering infrastructure around the world. Additionally, a number of legislative measures mandate the metering of energy and water resources.

These laws also establish rules and standards for the design of building systems, as well as assuring energy efficiency and sustainability. For example, Entergy Corporations, a US-based utility, chose OMNETRIC Group, a Siemens Company, to provide services such as meter data to help the utility enhance its billing processes in January 2017. Many other utilities across the world are also working to improve their billing operations by implementing proper meter data management systems.

Scope of the Study

Market Segments Covered in the Report:

By Component

  • Software
  • Services

By Application

  • Electric Meters
  • Gas Meters
  • Water Meters

By Deployment Mode

  • On-premise
  • Cloud

By Geography

  • North America
  • US
  • Canada
  • Mexico
  • Rest of North America
  • Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
  • LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Key Market Players

  • Oracle Corporation
  • Trilliant Holdings, Inc.
  • Itron, Inc.
  • Arad Group
  • Siemens AG
  • ABB Group
  • Honeywell International, Inc.
  • Eaton Corporation PLC
  • Aclara Technologies LLC. (Hubbell Incorporated)
  • Hansen Technologies, Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/aoj9rd