The North America Smart Meter Intelligence Market is projected to observe around 8.21% CAGR during the forecast period, i.e., 2021-26, says MarkNtel Advisors in their research report. The market growth primarily attributes to the rising power demand and the burgeoning need to enhance the electricity revenue collection & address electricity theft.
Additionally, rapid urbanization & increasing construction of residential & commercial buildings, which boosts the demand for installing smart grids, coupled with rising consumer awareness regarding energy conservation, is also surging the need for smart meters.
According to the research report, based on the Technology, the North America Smart Meter Intelligence Market bifurcates into:
Of both, Advanced Metering Infrastructure (AMI) accounted for the largest market share in the previous few years.
These systems offer accurate & real-time meter data & other data management activities. Additionally, growing urbanization during 2016-20 and the future growth expectations of the population are predicted to surge the demand for AMI and boost the overall market in the coming years.
The region’s climate demands continuous energy for heating during the winters and cooling during the summer. Moreover, mounting requirements for gas & electricity also require smart meter solutions for efficient distribution to consumers. Hence, the adoption of Advanced Metering Infrastructure (AMI) is significantly increasing for different purposes.
“North America Smart Meter Intelligence Market Analysis, 2021” highlights insights on the market potential & opportunities, along with business strategies to enhance the overall market growth. The report offers an overview of leading market players and their recent developments. Moreover, the report provides incredible market opportunities & emerging trends to help stakeholders make appropriate decisions before investing.
US Dominated the North America Smart Meter Intelligence Market
Geographically, the US acquired the largest share of the North America Smart Meter Intelligence Market in the previous few years. The country’s growth primarily attributes to the rapidly expanding residential & commercial sectors, leading to the surging installations of smart meters across these sectors. In addition to this, smart meters help utility companies save operational costs by eliminating the need for manually taking meter readings.
Key Questions Answered in the Study
According to MarkNtel Advisors, the leading industry players in the North America Smart Meter Intelligence Market are Microsoft, General Electric, IBM, SAS, Itron, Oracle, Innowatts, Cyient, C3 AI, OmniSci, Sagewell, Landis +Gyr, Siemens, Grid4C, and OSIsoft.