Global Meter Data Management Market: Introduction
Meter data management is a solution which collects and stores meter data from a head-end system and processes that meter data into information that can be used by other utility applications including billing, customer information systems, and outage management systems. It aggregates consumption data and calculates billing determinants.
Global Meter Data Management Market – Dynamics
Increasing Need to Reduce Labor and Operational Cost
The need to boost the revenue as well as reduce the cost is a key objective of companies in a competitive environment. Technology and systems related to meter data management have allowed companies to increase their efficiency to manage the data generated within the meters. It has eliminated the cost of labor and operational cost to maintain, validate, edit, and estimate meter data. Furthermore, it has significantly reduced costs and increased the efficiency of service providers. These advantages are driving the demand for meter data management.
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Transitioning to New Technology and Processes
System down time and the restructuring the whole process of new metering technology and related software within developing regions such as Asia Pacific, South America, and Middle East & Africa is comparatively high. This could restrict companies from adopting the technology and hamper the growth of the market.
North America Expected to Dominate the Global Meter Data Management Market
In terms of region, the global meter data management market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to dominate the global meter data management market during the forecast period, due to increased adoption of digitization in the utility industry.
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CO-VID 19 Impact on the Global Meter Data Management Market
It is expected that the lock down period in many countries across the globe due to the outbreak of COVID-19 will moderately impact the growth and adoption of meter data management. Companies are most likely to resist investing in new technology with the economic depression across the globe. The cost of system downtime will also impact the demand for meter data management.
Global Meter Data Management Market – Competitive Landscape
- In October 2018, Landis+Gyr released the 4.0 version of its meter data management system (MDMS) software with added support for complex metering operations to assist utilities with advanced business process automation which will enable retroactive processing of metering master data
Established in 1896, Landis+Gyr is the leading global provider of integrated energy management solutions for the utility sector. The company provides comprehensive solutions for the foundation of a smarter grid, including smart metering, distribution network sensing, and automation tools, load control, analytics, and energy storage.
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