AMI is an integration of smart meters, communication modules, and data management that enables the two-way communication between utilities and consumers. The major benefits of deploying AMI solutions include energy efficiency, regulated energy management, consistent insights on energy usage, and exceptional customer experience. MarketsandMarkets expects the global AMI market to grow from USD 4.48 billion in 2015 to USD 9.19 billion by 2020, with a Compound Annual Growth Rate (CAGR) of 15.5%.
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The AMI security solutions are expected to grow at the highest CAGR during the forecast period. The main challenge faced by the utilities, especially while engaging in advanced communication protocols, is the collection, consolidation, and aggregation of energy data from the deployed smart meters. The solution is used for securing communication protocol and large amount of data associated with it.
Smart water meters in the Advanced Metering Infrastructure Market are expected to grow at the highest CAGR as compared to other devices. These meters are deployed to record hourly residential and commercial electric usage. Through the creation of smart water networks, utilities can locate leakages; and monitor and manage flow rates, water quality, and pressure, thus plummeting instances of bursts on the network.
System integration is expected to grow at the highest CAGR during the forecast period. With the increasing demand of AMI technologies across utility companies, System Integrators (SIs) are facing challenging situations in the deployment of smart metering projects. SIs play a crucial role in AMI technologies due to their architecture expertise, complete knowledge of the industry, and state and federal government regulations. The key focus areas of SIs across AMI solutions are technology assessment, business process assessment, solution deployment, and benefit realization.
The Asia-Pacific (APAC) region is expected to grow at the highest CAGR during the forecast period. It is expected to experience extensive growth opportunities in the next few years. The increasing adoption of smart grid architecture, technology upgrades, energy management, regulatory mandates, and affluent countries, such as South Korea, Singapore, and Hong Kong are the major contributing factors for the growth of the AMI market in this region.
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