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AMI technology is getting rapid popularity over the years due to the mounting expenditure on infrastructure development and increasing investments in the modernization of healthcare services.
Fremont, CA: The promising prevalence of electrification across the globe is fuelling the adoption of more energy-efficient technologies worldwide. Many countries are taking the initiative of replacing regular meters with smart meters, which would help the smart meter market flourish in the years to come.
Let us dive into the key trends in the smart electric meter market:
More Focus on Energy Efficiency in Utilities
AMI technology is getting rapid popularity over the years due to the mounting expenditure on infrastructure development and increasing investments in the modernization of healthcare services.
The emergence of commercialization around the world has also prompted considerable interest in the automation of meters. This is aimed at catering to non-revenue electricity and minimizing the risk of power thefts, which is, in turn, expected to add momentum to smart electric meter industry trends over the estimated timeline.
Increasing Product Adoption for Better Billing Accuracy
The implementation of rigid regulatory norms and incentives towards power outage reduction is also expected to expedite smart electric meter market expansion across the utility secret.
The adoption of smart and efficient monitoring and control devices is enabling better billing accuracy in the service sector, in applications such as data centers, private offices, and government buildings, among others.
Resilient Applicability across Commercial
On the basis of phase, the smart electric meter industry outlook is branched into single-phase and three-phase segments.
The single-phase segment is projected to accumulate substantial gains over the estimated timeline and provided their suitability in high capacity industrial facilities and in utility-supported power networks.
Meanwhile, the growing demand for reliability in power supply for engineering processes such as hospitality, oil & gas, education, logistics, and others would add momentum to adopting three-phase smart meter systems.
See also: Top Utilities Tech Solution Companies
