PUBLISHER: The Business Research Company | PRODUCT CODE: 1695042
PUBLISHER: The Business Research Company | PRODUCT CODE: 1695042
Smart meter data management encompasses the comprehensive handling of data collected from smart meters, including its collection, storage, analysis, and application. This process empowers utilities to optimize their operations, enhance energy efficiency, and elevate customer service through informed decision-making based on data-driven insights.
The primary components of smart meter data management consist of software and services. Software within the smart meter data management market comprises computer programs and applications utilized by utilities to gather, store, process, and analyze data obtained from smart meters. These software solutions are deployed through on-premise or cloud-based models to cater to various applications, including electric meters, gas meters, and water meters.
The smart meter data management market research report is one of a series of new reports from The Business Research Company that provides smart meter data management market statistics, including smart meter data management industry global market size, regional shares, competitors with a smart meter data management market share, detailed smart meter data management market segments, market trends and opportunities, and any further data you may need to thrive in the smart meter data management industry. This smart meter data management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The smart meter data management market size has grown rapidly in recent years. It will grow from $2.08 billion in 2024 to $2.49 billion in 2025 at a compound annual growth rate (CAGR) of 19.8%. The growth in the historic period can be attributed to increasing energy demand, government initiatives promoting energy efficiency, rising awareness among utilities and growing adoption of renewable energy sources.
The smart meter data management market size is expected to see rapid growth in the next few years. It will grow to $5.07 billion in 2029 at a compound annual growth rate (CAGR) of 19.4%. The growth in the forecast period can be attributed to initial high costs, concerns over data privacy, resistance from traditional utility models, limited interoperability, and regulatory challenges. Major trends in the forecast period include increasing integration of advanced analytics, expansion of smart meter deployments, emergence of cloud-based solutions, growing emphasis on demand response programs and energy efficiency initiatives, and evolution towards advanced metering infrastructure (AMI) solutions.
The growing demand for energy is expected to drive the expansion of the smart meter data management market in the future. Energy refers to the ability to perform work, existing in various forms such as heat, light, movement, or electricity. The rise in energy demand is attributed to the increasing energy consumption as cities become centers for electricity-dependent activities like transportation, heating, cooling, and the use of electronic devices. Smart meter data management plays a crucial role in optimizing energy use and enhancing grid efficiency by providing valuable insights into consumption patterns, enabling informed decision-making. For example, in June 2023, the Australian Energy Statistics, published by the Department of Climate Change, Energy, the Environment, and Water, reported that Australia's total electricity generation in 2022 reached 273,265 gigawatt hours (GWh), marking a 2% increase compared to the previous year. As a result, the growing energy demand is fueling the growth of the smart meter data management market.
Key players in the smart meter data management market are dedicated to developing innovative products such as the Stratus IQ+ electric meter to gain a competitive advantage. The Stratus IQ+ electric meter is designed to offer utilities enhanced data visibility and control necessary for adapting to the evolving smart grid landscape. For instance, in December 2023, Xylem, a US-based water solutions and technology company, unveiled the Stratus IQ+ electricity meter with grid-edge capabilities. This cutting-edge metering solution aims to provide utilities with advanced data collection capabilities, facilitating analysis of customer EV charging behaviors. With near-real-time energy consumption monitoring and features such as software-defined metrology, the Stratus IQ+ ensures flexibility and reliability, enhancing operational efficiency and empowering utilities to make informed decisions to meet contemporary grid management requirements.
In April 2022, Iskraemeco d.d., a Slovenia-based provider of smart metering solutions, acquired Holosys d.o.o. for an undisclosed sum. The acquisition aims to combine resources and expertise to enhance Iskraemeco's energy and water management offerings with advanced communication solutions, fostering growth in smart metering and broadening their global market reach. Holosys d.o.o. is a Slovenia-based technology company specializing in IoT and ICT solutions for applications in electricity, water meters, and gas management.
Major companies operating in the smart meter data management market are Siemens AG, Oracle Corporation, Schneider Electric SE, Honeywell International Inc., ABB Group, Xylem Inc., El Sewedy Electric Company, Itron Inc., Landis+Gyr Group AG, Secure Meters Ltd., Wasion Group Holdings Limited, Holley Metering Limited, Jiangsu Linyang Electronics Co. Ltd., Badger Meter Inc., Aclara Technologies LLC, Neptune Technology Group Inc., EDMI Limited, Circutor S.A., Kamstrup A/S, Genus Power Infrastructures Limited, Nuri Telecom Company Limited, Zenner International GmbH & Co. KG, Iskraemeco d.d., Trilliant Holdings Inc., Elster Group GmbH
North America was the largest region in the smart meter data management market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart meter data management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the smart meter data management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The smart meter data management market consists of revenues earned by entities by providing services such as data collection, billing and revenue management, demand response support, and regulatory compliance. The market value includes the value of related goods sold by the service provider or included within the service offering. The smart meter data management market also includes sales of meter data aggregation devices, security devices, power supplies and backup systems, gateway devices, and data concentrators. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Smart Meter Data Management Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on smart meter data management market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for smart meter data management ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The smart meter data management market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.