U.S. Smart Meter Data Management Market Reach USD 556.94 Million by 2026|Top Players such as – Enoro, Itron & Landis+Gyr
Growth in demand for smart meters across the U.S. to efficiently use energy sources and monitor energy consumptions drive the market growth.
PORTLAND, PORTLAND, OR, UNITED STATE, April 25, 2023 /EINPresswire.com/ — Allied Market Research published a new report, titled, ” The U.S. Smart Meter Data Management Market Reach USD 556.94 Million by 2026|Top Players such as – Enoro, Itron & Landis+Gyr.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The U.S. market was valued at USD 176.56 million in 2018, and the U.S. smart meter data management market forecast is projected to reach USD 556.94 million by 2026, growing at a CAGR of 15.54% from 2019 to 2026.
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The growth of the U.S. smart meter data management market is driven by rise in demand for smart meters across the U.S. to efficiently use energy sources and monitor energy consumptions. Further, supportive rules and regulations, as well as initiatives undertaken by the governing bodies of the nation, boost the demand for smart meter data management products. Increase in volume of meter data & high demand for predictive analysis and integration of advance technologies such as AI in smart meter data management are expected to offer considerable growth opportunities for the smart meter data management market.
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The U.S. smart meter data management market is segmented on the basis of component, deployment mode, application, and region. By component, the market is bifurcated into software and services. The software segment is further segmented into meter data management system (MDMS), meter data analytics (MDA), and software communication. Services are further studied across consulting, project management, implementation & integration, and other support services. By deployment type, it is bifurcated into cloud based and on-premise. By application, the market is divided into electric, gas and water. By country, the market is analyzed across the U.S.
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The key players profiled in the U.S. smart meter data management market analysis are Oracle Corporation, Arad Group, Trilliant Holdings, Inc., Elster Group GmbH, Itron, Siemens AG, Aclara Technologies LLC, Enoro, ElectSolve Technology Solutions & Services, Inc., and Landis+Gyr. These players have adopted various strategies to increase their U.S. smart meter data management market penetration and strengthen their position in the industry.
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Key Findings of the Study
● On the basis of component, the software segment led the U.S. smart meter data management market, in terms of revenue in 2018.
● By deployment model, the on-premise accounted for the highest U.S. smart meter data management market share in 2018.
● Depending on application, the electric gas segment is anticipated to exhibit substantial growth during the forecast period.
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