meter data management solutions provide transparency for the utilities and municipalities, and thereby enable significantly increased efficiency in reading, billing and service processes. The smart grids and smart metering rollout will help the EU to reduce emissions in the region by up to 9% as well as the annual energy consumption of households by comparable amounts. For measuring cost-effectiveness, EU countries performed cost-benefit analyses on the basis of guidelines specified by the European Commission (EC). Also, a similar assessment was conducted on smart meters for gas. By 2020, the European Union (EU) targets to upgrade at least 80% of the region’s electricity meters with smart meters at every place where it is economical to do so.
meter data management system market accounted to US$ 837.6 Mn in 2018 and is expected to grow at a CAGR of 14.4% during the forecast period 2019 – 2027, to account to US$ 2,891.7 Mn by 2027.
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Top Key Player:
ABB Ltd.,Aclara Technologies LLC,Diehl Metering GmbH,Eaton Corporation,Honeywell International, Inc,Itron Inc,Kamstrup A/S,Landis+Gyr Group AG,Schneider Electric SE,Siemens AG
Europe is the second-largest market in the meter data management system market. Apart from North America and Europe, APAC remains at the third-largest geographic segment in the meter data management system market. In APAC, countries such as China, Thailand, Singapore, and South Korea, are noticing increasing adoption of EVs, which is accelerating the number of EV charge stations. In 2019, Royal Dutch Shell launched EV chargers at petrol stations in Singapore. Such initiatives are expected to bolster the adoption of meter data management system systems across the region.
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Europe Meter Data Management System Market–Segmentation
Europe Meter Data Management System Market By Offering
Europe Meter Data Management System Market By Utility Type
Europe Meter Data Management System Market By Application
Europe Meter Data Management System Market By End-User
Europe Meter Data Management System Market By Country
Rest of Europe
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