From GlobeNewswire: 2024-11-22 06:07:00

The Advanced Metering Infrastructure (AMI) market was valued at USD 22.65 billion in 2023 and is projected to reach USD 59.18 billion by 2032, growing at a CAGR of 11.28%. Global investment in smart grid technology is driving market growth, with the US and EU leading the transition towards energy-efficient practices.

The increasing global investment in smart grid technology is a significant driver for the AMI market, as countries and regions focus on modernizing their energy infrastructure. Governments worldwide are promoting smart grids to reduce energy wastage and improve overall efficiency, leading to the widespread implementation of smart meters.

The US Department of Energy allocated USD 3.5 billion in 2023 to support grid modernization efforts, while the EU aims to install 200 million smart meters by 2024. This reflects a growing commitment to energy efficiency and sustainability, propelling the market growth towards energy-efficient practices and the adoption of smart grid technologies.

In-depth segment analysis reveals key drivers shaping the market’s growth trajectory, with the smart metering devices segment set for substantial growth due to increasing demand for energy-efficient solutions. The residential segment is also expected to expand significantly, driven by consumer interest in energy efficiency and government initiatives promoting sustainability.

North America held the largest revenue share of the AMI market in 2023, with high adoption rates of smart grid technologies. The Asia-Pacific region is experiencing rapid growth, driven by large infrastructure projects in countries like China and India. India’s national smart metering program aims to install 250 million smart meters to improve billing accuracy and address electricity theft.

Recent developments include Itron, Inc. supplying its AMI solution to Bangladesh Rural Electrification Board and Siemens Smart Infrastructure introducing a semiconductor technology-based electronic starter. The market report provides insights on market size, segments analysis, competitive landscape, regional analysis, and key drivers shaping market growth.
The Advanced Metering Infrastructure Market Growth & Outlook Report for 2024-2032 is now available for access. The report includes in-depth analysis, company profiles, use cases, and best practices. For more information or customization options, contact [email protected]. SNS Insider is a leading global market research and consulting agency, providing clients with up-to-date market data and insights to make informed decisions.



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