The Asia Pacific Smart Meter Data Management Market would witness market growth of 18.0% CAGR during the forecast period (2023-2030).
Smart meter data management is a kind of software that validates, stores, and makes pre-processed meter data available to business applications upstream. Also, smart meters are utilized by a variety of major suppliers for a variety of objectives, including assisting businesses with revenue management by increasing meter and billing quality, giving correct bills to end users, and assisting consumers with energy saving. Detecting energy theft, estimating meter readings, and improving overall energy efficiency are all advantages of the smart meter management system over the old metering system.
The process of collecting, storing, and managing enormous amounts of data from various smart metering devices, such as water meters and gas meters, can be performed with smart meter data management. Moreover, it assists organizations in gathering, storing, and processing various forms of data in order to assist enterprises in dealing with the growing number of data and gives important information for gaining superior insights. Smart meter data management software also minimizes human errors and offers real-time data on smart meters.
China is expected to install 800 million smart meters by 2020, putting it in first place in terms of the number of installations. The Smart Grid Corporation of China (SGCC) has been updating the power industry (including energy-equipment manufacture), decreasing the deployment of new coal-fired power plants, assuring dependable power supply, and maintaining national power security over the last five years. Thus, these factors are likely to accelerate the growth of the regional market throughout the forecast period.
The China market dominated the Asia Pacific Smart Meter Data Management Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $508.1 million by 2030. The Japan market is experiencing a CAGR of 17.2% during (2023 - 2030). Additionally, The India market would exhibit a CAGR of 18.7% during (2023 - 2030).
Based on Component, the market is segmented into Software and Services. Based on Application, the market is segmented into Electric Meters, Gas Meters and Water Meters. Based on Deployment Mode, the market is segmented into On-premise and Cloud. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Global Smart Meter Data Management Market is Predict to reach $4.9 Billion by 2030, at a CAGR of 17.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Oracle Corporation, Trilliant Holdings, Inc., Itron, Inc., Arad Group, Siemens AG, ABB Group, Honeywell International, Inc., Eaton Corporation PLC, Hubbell Incorporated and Hansen Technologies, Ltd.
By Component
By Application
By Deployment Mode
By Country
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