U.S Smart Meter Data Management Market by Component (Software and Services), Deployment Model (On-premise and Cloud), and Application (Electric, Gas, and Water): U.S. Opportunity Analysis and Industry Forecast, 2019–2026

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U.S. Smart Meter Data Management Market Outlook: 2026

The U.S. market was valued at $176.56 million in 2018, and the U.S. smart meter data management market forecast is projected to reach $556.94 million by 2026, growing at a CAGR of 15.54% from 2019 to 2026. U.S. smart meter data management stands for governance, risk, and compliance. Smart meter data management is a software which is used to validate, store, and make pre-processed meter data available for upstreaming the business application. In addition, smart meter is used by various key vendors for different purposes, which include helping organizations to manage their revenue by improving the meter quality and billing quality, providing accurate bill to the end users, and help consumers improve their energy efficiency. The smart meter management system offers various advantages over the tradition metering system including detection of energy theft, estimate meter readings, and better overall energy efficiency. 

The growth of the U.S. smart meter data management market is driven by rise in demand for smart meters across the U.S. to efficiently use energy sources and monitor energy consumptions. Further, supportive rules and regulations, as well as initiatives undertaken by the governing bodies of the nation, boost the demand for smart meter data management products. However, the high cost of these meters and management of high volume of data are expected to hamper the market growth. Nevertheless, increase in volume of meter data & high demand for predictive analysis and integration of advance technologies such as AI in smart meter data management are expected to offer considerable growth opportunities for the smart meter data management market.

The electric gas meter segment is expected to garner significant share during the forecast period. The major factors that drive the adoption of U.S. smart meter data management software in this sector include, increase in the demand for smart grids and energy across the U.S. and surge in electric vehicle & grid integration majorly drive the U.S. smart meter data management market growth. However, the water meter sector is expected to grow at a highest rate during the forecast period, owing to increase in government initiatives for installation of water meter data management across the U.S. to convert meter data into actionable insights.

The report focuses on the growth prospects, restraints, and trends of the U.S. smart meter data management software analysis. The study provides Porter’s five forces analysis to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the U.S. smart meter data management software market.

Segment review

The U.S. smart meter data management market is segmented on the basis of component, deployment mode, application, and region. By component, the market is bifurcated into software and services. The software segment is further segmented into meter data management system (MDMS), meter data analytics (MDA), and software communication. Services are further studied across consulting, project management, implementation & integration, and other support services. By deployment type, it is bifurcated into cloud based and on-premise. By application, the market is divided into electric, gas and water. By country, the market is analyzed across the U.S.

The key players profiled in the U.S. smart meter data management market analysis are Oracle Corporation, Arad Group, Trilliant Holdings, Inc., Elster Group GmbH, Itron, Siemens AG, Aclara Technologies LLC, Enoro, ElectSolve Technology Solutions & Services, Inc., and Landis+Gyr. These players have adopted various strategies to increase their U.S. smart meter data management market penetration and strengthen their position in the industry.

Top impacting factors

Increase in need for both prescriptive & predictive analytics

Surge in need for both prescriptive & predictive analytics as a method for gaining insight supports the development in meter data management solutions, as these solutions help utilities to turn meter data into valuable insights, which improve the operation of the grid. Moreover, continuous increase in volume of meter data and introduction of new applications, which rely on this data such as grid optimization and demand-side management drive the need for enhanced meter data analytics (MDA) and meter data management systems (MDMS). For instance, DUKe Energy and many other utilities have adopted grid analytics to prevent major outages related to equipment. Furthermore, proliferation of cloud-based predictive solutions among various industries is attributed to the capability of cloud that leverages scalability and provides pervasiveness from the gathered data. As prediction models applied to existing data can unveil insights into future trends of the smart meter system behavior, the need for prescriptive analytics is gaining traction to simulate various approaches such as risk stratification, simulation and mapping of data that is expected to implement the predicted trends with numerous outcomes. Thus, the use of predictive & prescriptive analytics drives the growth of the smart meter data management market as it enables analysis, forecast, and management of the load on smart meters.

Data management issues

Managing large volume and velocity of information generated by short interval reads of smart meter data is expected to hinder the growth of the U.S. smart meter data management market, as it is expected to be unmanageable at times. This huge unmanageable amount of data may make it difficult for power utilities to reach useful conclusions. Furthermore, various data management issues such as data distribution & replication, transactions models, query processing and location-based services are some of the major factors that hamper the growth of the market. In addition, huge amount of data and higher cost of remote access hinder the growth of the smart meter data management market.

Key Benefits for Stakeholders 

• The study provides an in-depth analysis of the U.S. smart meter data management market forecast along with the current & future trends to elucidate the imminent investment pockets.
• Information about key drivers, restrains, and opportunities and their impact analysis on the U.S. smart meter data management market size is provided in the report.
• Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
• The quantitative analysis of the market industry from 2018 to 2026 is provided to determine the market potential.

 Key Market Segments & Key Market Players