NORTH AMERICA SMART METER DATA MANAGEMENT MARKET 2024-2032

ICT | IT Hardware and data centers

NORTH AMERICA SMART METER DATA MANAGEMENT MARKET 2024-2032

Market by Deployment Type, Component, Application, and Country Outlook | Forecast 2024-2032

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Triton’s research infers that the smart meter data management market in North America is set to advance in revenue at a CAGR of 16.56% over the forecasted period 2024-2032


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The countries in the region include:

•        United States

•        Canada

North America boasts the highest meter reading penetration globally, owing to advanced metering infrastructure supporting ambitious smart grid initiatives. Moreover, national and state policies and regulations fuel market growth. In Canada, British Columbia and Ontario have implemented essential requirements for smart electricity meters. As a result, these factors are expected to substantially augment growth in the smart meter data management market across North America.

Smart meters gained traction in the US starting in 2006 when California’s Pacific Gas & Electric (PG&E) initiated rollouts in Northern California. Since then, US electric utilities have installed several advanced (smart) metering infrastructure (AMI) units, with the majority designated for residential customers. AMI encompasses meters that monitor and record electricity consumption at least hourly, providing data to the utility and the customer on a daily basis. This has surged the amount of data, resulting in demand for efficient data management solutions. Hence, the growth in smart meters propels the smart meter data management market on the growth path. 

The surge in smart meters in Canada arises primarily from provincial and utility-driven initiatives and mandates, although governmental emphasis on clean energy may spur further adoption. Major players in supplying smart electric meters to the Canadian market are primarily foreign firms, notably Landis+Gyr (via its partnership with Hydro-Québec) and Itron (via its partnership with BC Hydro). These factors substantially elevate the demand for smart data management solutions, thereby driving the studied market. 

A system designed for managing meter data in gas applications efficiently handles vast quantities of detailed interval data before it undergoes further processing by other utility applications. Due to the sheer volume of data generated by gas meters, consistent and standardized rules are essential for minimizing potential errors.

The market’s growth is assessed based on application, component, and deployment type. The application section further includes gas, water, and electric. 

The major firms in the market include Aclara Technologies LLC, Honeywell International Inc, Hansen Technologies Corp, and Itron Inc.

Established in 1972, Aclara Technologies LLC specializes in smart infrastructure solutions (SIS), catering to water, gas, and electric utilities. Its offerings include smart meters, communication networks, and operational data management systems. The company delivers a suite of solutions comprising meters, edge devices, advanced metering infrastructure (AMI), consumer engagement software, and installation services. With over 1,000 utility partners globally, it is headquartered in St Louis, Missouri, United States. 


KEY DELIVERABLES OF THE REPORT: 

  • Market CAGR during the forecasting years 2024-2032

  • Detailed data highlighting key insights, industry components, and market strategies

  • Comprehensive information and estimation of the smart meter data management market revenue growth in North America and its influence on the parent market 

  • In-depth study of forthcoming trends in consumer behavioral patterns 

  • A meticulous analysis of the competitive landscape and Porter’s Five Forces

  • A wide-ranging study of factors that will challenge the North America smart meter data management market’s growth during the upcoming years

Want to get specific insights? Our team of analysts can customize this report based on your preferences. Connect with us here.

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Table of Content

1. NORTH AMERICA SMART METER DATA MANAGEMENT MARKET - SUMMARY

2. INDUSTRY OUTLOOK

2.1. MARKET DEFINITION

2.2. KEY INSIGHTS

2.2.1.   IN THE SOFTWARE SEGMENT METER DATA ANALYTICS WILL SHOW PROMISING TRENDS

2.2.2.   INCREASED INITIATIVES TO DEVELOP SMART CITIES WILL HELP THE MARKET TO GROW

2.3. PORTER’S FIVE FORCES ANALYSIS

2.3.1.   THREAT OF NEW ENTRANTS

2.3.2.   THREAT OF SUBSTITUTE

2.3.3.   BARGAINING POWER OF SUPPLIERS

2.3.4.   BARGAINING POWER OF BUYERS

2.3.5.   THREAT OF COMPETITIVE RIVALRY

2.4. KEY IMPACT ANALYSIS

2.4.1.   COST

2.4.2.   INTEROPERABILITY

2.4.3.   BRAND NAME OF THE COMPANY

2.5. MARKET ATTRACTIVENESS INDEX

2.6. VENDOR SCORECARD

2.7. MARKET DRIVERS

2.7.1.   GROWTH IN ADOPTION OF SMART METERS

2.7.2.   IMPLEMENTATION OF ADVANCED METERING INFRASTRUCTURE ON THE RISE

2.8. MARKET RESTRAINTS

2.8.1.   INTEGRATION CHALLENGES

2.8.2.   HIGH COST OF INSTALLATION

2.9. MARKET OPPORTUNITIES

2.9.1.   INCENTIVES AND SUPPORT FROM GOVERNMENTS

2.10. MARKET CHALLENGES

2.10.1.                SECURITY CONCERNS

3. NORTH AMERICA SMART METER DATA MANAGEMENT MARKET OUTLOOK - BY COMPONENT

3.1. SOFTWARE

3.1.1.   METER DATA MANAGEMENT SYSTEM

3.1.2.   METER DATA ANALYTICS

3.1.3.   COMMUNICATION SOFTWARE

3.2. SERVICE

3.2.1.   CONSULTING

3.2.2.   PROJECT MANAGEMENT

3.2.3.   IMPLEMENTATION & INTEGRATION

3.2.4.   OTHER SUPPORT SERVICES

4. NORTH AMERICA SMART METER DATA MANAGEMENT MARKET OUTLOOK - BY DEPLOYMENT TYPE

4.1. CLOUD-BASED

4.2. ON-PREMISE

5. NORTH AMERICA SMART METER DATA MANAGEMENT MARKET OUTLOOK - BY APPLICATION

5.1. ELECTRIC

5.2. GAS

5.3. WATER

6. NORTH AMERICA SMART METER DATA MANAGEMENT MARKET – REGIONAL OUTLOOK

6.1. UNITED STATES

6.2. CANADA

7. COMPANY PROFILES

7.1. ACLARA TECHNOLOGIES LLC (ACQUIRED BY HUBBELL INCORPORATED)

7.2. ARAD GROUP

7.3. ELECTSOLVE TECHNOLOGY SOLUTIONS & SERVICES, INC.

7.4. ELSTER SOLUTIONS (ACQUIRED BY HONEYWELL INTERNATIONAL INC.)

7.5. ENORO AB (ACQUIRED BY HANSEN TECHNOLOGIES)

7.6. ITRON INC.

7.7. LANDIS+GYR GROUP

7.8. ORACLE UTILITIES (OPOWER)

7.9. SIEMENS AG

7.10.TRILLIANT HOLDINGS INC.

7.11.EATON CORPORATION

7.12.DIEHL

7.13.SCHNEIDER ELECTRIC SE

7.14.KAMSTRUP

7.15.SENSUS (XYLEM)

8.    RESEARCH METHODOLOGY & SCOPE

8.1. RESEARCH SCOPE & DELIVERABLES

8.2. SOURCES OF DATA

8.3. RESEARCH METHODOLOGY

 

List of Tables

TABLE 1: NORTH AMERICA SMART METER DATA MANAGEMENT MARKET, BY COUNTRY OUTLOOK, 2024-2032 (IN $ MILLION)

TABLE 2: REGULATORY FRAMEWORK

TABLE 3: LIST OF COLLABORATIONS

TABLE 4: LIST OF PRODUCT LAUNCHES

TABLE 5: LIST OF ACQUISITIONS

TABLE 6: LIST OF BUSINESS DIVESTITURES & EXPANSIONS

TABLE 7: NORTH AMERICA SMART METER DATA MANAGEMENT MARKET, BY DEPLOYMENT TYPE, 2024-2032 (IN $ MILLION)

TABLE 8: NORTH AMERICA SMART METER DATA MANAGEMENT MARKET, BY COMPONENT, 2024-2032 (IN $ MILLION)

TABLE 9: NORTH AMERICA SMART METER DATA MANAGEMENT MARKET, BY APPLICATION, 2024-2032 (IN $ MILLION)

TABLE 10: NORTH AMERICA SMART METER DATA MANAGEMENT MARKET, BY COUNTRY OUTLOOK, 2024-2032 (IN $ MILLION)

List of Figures

FIGURE 1: MARKET MATURITY ANALYSIS

FIGURE 2: SUPPLY CHAIN ANALYSIS

FIGURE 3: KEY BUYING IMPACT ANALYSIS

FIGURE 4: NORTH AMERICA SMART METER DATA MANAGEMENT MARKET, BY DEPLOYMENT TYPE, 2023 & 2032 (IN %)

FIGURE 5: NORTH AMERICA SMART METER DATA MANAGEMENT MARKET, BY CLOUD-BASED, 2024-2032 (IN $ MILLION)

FIGURE 6: NORTH AMERICA SMART METER DATA MANAGEMENT MARKET, BY ON-PREMISE, 2024-2032 (IN $ MILLION)

FIGURE 7: NORTH AMERICA SMART METER DATA MANAGEMENT MARKET, BY COMPONENT, 2023 & 2032 (IN %)

FIGURE 8: NORTH AMERICA SMART METER DATA MANAGEMENT MARKET, BY SERVICES, 2024-2032 (IN $ MILLION)

FIGURE 9: NORTH AMERICA SMART METER DATA MANAGEMENT MARKET, BY SOFTWARE, 2024-2032 (IN $ MILLION)

FIGURE 10: NORTH AMERICA SMART METER DATA MANAGEMENT MARKET, BY APPLICATION, 2023 & 2032 (IN %)

FIGURE 11: NORTH AMERICA SMART METER DATA MANAGEMENT MARKET, BY GAS, 2024-2032 (IN $ MILLION)

FIGURE 12: NORTH AMERICA SMART METER DATA MANAGEMENT MARKET, BY WATER, 2024-2032 (IN $ MILLION)

FIGURE 13: NORTH AMERICA SMART METER DATA MANAGEMENT MARKET, BY ELECTRIC, 2024-2032 (IN $ MILLION)

FIGURE 14: NORTH AMERICA SMART METER DATA MANAGEMENT MARKET, BY COUNTRY OUTLOOK, 2023 & 2032 (IN %)

FIGURE 15: UNITED STATES SMART METER DATA MANAGEMENT MARKET 2024-2032 (IN $ MILLION)

FIGURE 16: CANADA SMART METER DATA MANAGEMENT MARKET 2024-2032 (IN $ MILLION)

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