Advanced Metering Infrastructure Market

Advanced Metering Infrastructure Market Overview

The global Advanced Metering Infrastructure Market size was valued at USD 22.07 billion in 2023 and is predicted to reach USD 45.15 billion by 2030 with a CAGR of 10.7% from 2024-2030. 

Advanced metering infrastructure (AMI) involves the installation and data management of smart meters across sectors including residential, commercial, and industrial. AMI systems include products such as smart electric meters, smart water meters and smart gas meters enabling two-way communication between utilities and consumer in order to manage energy consumption. 

This utility metering system collects, stores, analyzes and presents the energy usage data, providing utility companies the ability to monitor electricity, gas and water usage in real time. It plays a crucial role in modernizing utility services, enhancing efficiency and support sustainable energy practices. 

They also help to save energy sources and lower the carbon footprint by supporting energy-saving initiatives, and improving outage management services. AMI empowers businesses to optimize energy management through real-time data and two-way communication and enables utilities to enhance service delivery with tailored energy solutions.

Market Dynamics and Trends

The rising energy consumption is prompting the adoption of advanced metering infrastructure systems for efficient energy management that improves grid reliability, enabling utilities to meet energy demands. 

As per the report published by International Energy Agency (IEA) 2024, the global electricity demand grew by 2.2% in 2023 and is expected to increase 3.4% by the year 2026.  This increasing global energy consumption enhances the role of advanced metering infrastructure in enhancing energy management and grid reliability to meet rising demands.

Moreover, growing use of smart meters globally across residential, commercial and industrial sectors is driving the advanced metering infrastructure market growth fueled by rising consumer demand for improved energy management and billing transparency. 

For instance, in May 2024, Oakter launched a new smart energy meter with advanced technologies and internet of thing (IoT). This allows two-way communication with utility servers enabling features such as tampering detection, real-time data transmission and outage identification. 

Similarly, in April 2024, the Bangladesh Rural Electrification Board (BREB) installed 50,0000 smart prepayment meters to modernize the distribution system. These installations enable real-time data for accurate billing and energy efficient management. Thus, the growing adoption of smart meters for enhanced energy management and transparency accelerate the market growth.

Also, increasing government initiatives towards metering solutions is driving the advanced metering infrastructure market demand by propelling energy efficient standards that compel utilities to adopt advanced metering infrastructure technologies. 

For example, in February 2024, Energy Efficiency Services Limited (EESL) implemented smart metering program aimed at enhancing billing and collection efficiencies for distribution companies. Moreover, in September 2023, the UK government introduced the energy security bill to modify energy license conditions for smart meter installations. 

This approach empowers utilities to meet installation targets for energy suppliers that drives the progress on the smart meter rollout. These initiatives accelerate the adoption of advanced metering infrastructure, thereby driving market growth and ensuring a more efficient, secure, and sustainable energy solution.

However, high installation and maintenance cost of smart meters restrain the advanced metering infrastructure market expansion by increasing financial burden that limits the widespread deployment.

On the contrary, the expansion of smart cities presents a significant growth opportunity for the advanced metering infrastructure market trends in forthcoming years, as smart city relies on meter data management to enhance energy efficiency and sustainability. 

AMI systems are crucial for optimizing energy distribution, reduce waste, and support services such as smart lighting and renewable energy integration. This growing need for intelligent infrastructure in smart cities creates significant potential for the widespread adoption and enhancement of AMI systems.

Market Segmentations and Scope of the Study

The advanced metering infrastructure market report is segmented on the basis of product type, component type, end-user and region. On the basis of product type, the market is segmented into smart electric meter, smart water meter and smart gas meter. On the basis of component type, the market is segmented into solutions and services. Solutions is further divided into meter data analytics, meter data management, advanced metering infrastructure security and meter communication infrastructure. Services is further segmented into system integration, meter deployment and program management & consulting. On the basis of end-user industry, the market is distributed into residential, commercia, and industrial. The regional breakdown includes regions such as North America, Europe, Asia-Pacific, and the Rest of the World (RoW).

Geographical Analysis

North America dominates the advanced metering infrastructure market share and is expected to continue its dominance during the forecast period. This is due to technological advancements in metering solutions making them more reliable, scalable and cost-effective that enables utility companies to adopt and use the advanced systems. 

For example, in June 2023, Easymetering partnered with Ericsson to develop smart metering technology, with the goal of boosting operational efficiency and improving data utilization for utility companies. Such partnerships combine resources and technologies to develop more advanced and cost-effective solutions, driving wider adoption of AMI solutions in the region.

Moreover, the leading companies such as Hubbell Incorporated, Itron Inc. and IBM Corporation are adopting various business strategies including product distributions in boosting the industry growth in the region. 

For instance, in July 2023, Alcara (subsidiary of Hubbell Incorporated company) supplied AMI solution to Austin Water, to enhance water management for over 1 million residents in Texas. This kind of initiatives fosters widespread adoption of grid modernization, making the technology more accessible that further boosts market expansion.

On the other hand, Asia-Pacific is the fastest growing region in the advanced metering infrastructure market trends, owing to the surge in smart meter projects led by Asian companies. 

For example, in June 2024, Mitsubishi Electric Corporation announced delivery of its first overseas smart meter system to Taiwan Power Company (Taipower). This surge in smart meter projects accelerates the demand for AMI in the region as it drives the need for more sophisticated energy management and data collection solutions.

Also, growing government initiatives for setting up smart meters in the region drive modernization of energy infrastructure enabling utility companies to upgrade their system to improve customer service. 

For example, in March 2024, Indian government invested USD 18 billion to deploy prepaid smart meters across the country to modernize India’s electricity distribution infrastructure and improve energy management practices. 

This increase in government investments towards smart metering infrastructure encourages utilities to modernize the smart metering technologies aligning with environmental goals, thereby boosting the market growth in the region.

Competitive Landscape

Various market players operating in the advanced metering infrastructure industry are Hubbell Incorporated, Schneider Electric SE, Itron Inc., IBM Corporation, Genus Power Infrastructures Ltd., Eaton Corporation plc, Landis+Gyr AG, Mueller Systems, LLC., Honeywell International Inc., IntelliSmart Infrastructure Pvt Ltd., and others. These companies continue to adopt various development strategies including partnerships, business expansion, and launches to maintain their dominance in the sector.

For instance, in March 2024, Itron Inc. deployed 2 million smart meters for Xcel Energy to support the modernization of the utility service providing customers with more detailed energy usage data and improved service. This surge in the advanced metering infrastructure market demand, fuels the deployment of smart meters leading to business expansions.

Also, in December 2023, IntelliSmart partnered with Bharti airtel to expand its business by deploying 20 million smart meters in India. This partnership provides a comprehensive Internet of Things (IoT) solution for smart metering including cloud services, head end system and analytical capabilities. The increasing role of IoT and data analytics in modernizing utility infrastructure accelerates the industry expansion.

Additionally, in May 2023, Honeywell International Inc. launched its next generation cellular module (NXCM) to transform legacy gas meters into smart meters. This AMI technology connects the existing meters wirelessly enhancing the monitoring, safety and data capturing capabilities for utility providers. This initiative leverages benefits of AMI, making transition to smart meters more feasible and cost-effective.  

Key Benefits

• The report provides a quantitative analysis and estimations of the advanced metering infrastructure market from 2024 to 2030, which assists in identifying the prevailing industry opportunities.

• The study comprises a deep-dive analysis of the current and future advanced metering infrastructure market trends to depict prevalent investment pockets in the sector.

• Information related to key drivers, restraints, and opportunities and their impact on the market is provided in the report. 

• Competitive analysis of the players, along with their market share is provided in the report.

• SWOT analysis and Porters Five Forces model is elaborated in the study.

• Value chain analysis in the market study provides a clear picture of roles of stakeholders

Advanced Metering Infrastructure Market Key Segments

By Product Type

• Smart Electric Meters

• Smart Water Meters

• Smart Gas Meters

By Component Type

• Solutions

  • Meter Data Analytics

  • Meter Data Management 

  • Advanced Metering Infrastructure Security 

  • Meter Communication Infrastructure

• Services

  • System Integration

  • Meter Deployment

  • Program Management & Consulting

By End-User  

• Residential 

• Commercials  

• Industrial 

By Region

• North America

  • The U.S.

  • Canada

  • Mexico

• Europe

  • The UK

  • Germany

  • France    

  • Italy

  • Spain

  • Denmark

  • Netherlands

  • Finland

  • Sweden

  • Norway

  • Russia

  • Rest of Europe

• Asia-Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Indonesia

  • Singapore

  • Taiwan

  • Thailand

  • Rest of Asia-Pacific

• RoW

  • Latin America

  • Middle East

  • Africa

Key Players

• Hubbell Incorporated

• Schneider Electric SE

• Itron Inc. 

• IBM corporation 

• Genus Power Infrastructures Ltd. 

• Eaton Corporation plc 

• Landis+Gyr AG

• Mueller Systems, LLC. 

• Honeywell International Inc.

• IntelliSmart Infrastructure Pvt. Ltd. 

REPORT SCOPE AND SEGMENTATION: 

Parameters	Details
Market Size in 2023	USD 22.07 Billion
Revenue Forecast in 2030	USD 45.15 Billion
Growth Rate	CAGR of 10.7% from 2024 to 2030
Analysis Period	2023–2030
Base Year Considered	2023
Forecast Period	2024–2030
Market Size Estimation	Billion (USD)
Growth Factors	Rising energy consumption boost the market. The growing use of smart meters globally drives the market. The increasing government initiatives to adopt smart metering further propels the market.
Countries Covered	28
Companies Profiled	10
Market Share	Available for 10 companies
Customization Scope	Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs.