Global Meter Data Management Market: Introduction
Meter data management is a solution which collects and stores meter data from a head-end system and processes that meter data into information that can be used by other utility applications including billing, customer information systems, and outage management systems. It aggregates consumption data and calculates billing determinants.
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Global Meter Data Management Market – Dynamics
Increasing Need to Reduce Labor and Operational Cost
The need to boost the revenue as well as reduce the cost is a key objective of companies in a competitive environment. Technology and systems related to meter data management have allowed companies to increase their efficiency to manage the data generated within the meters. It has eliminated the cost of labor and operational cost to maintain, validate, edit, and estimate meter data. Furthermore, it has significantly reduced costs and increased the efficiency of service providers. These advantages are driving the demand for meter data management.
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Transitioning to New Technology and Processes
System down time and the restructuring the whole process of new metering technology and related software within developing regions such as Asia Pacific, South America, and Middle East & Africa is comparatively high. This could restrict companies from adopting the technology and hamper the growth of the market.
North America Expected to Dominate the Global Meter Data Management Market
In terms of region, the global meter data management market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to dominate the global meter data management market during the forecast period, due to increased adoption of digitization in the utility industry.
CO-VID 19 Impact on the Global Meter Data Management Market
It is expected that the lock down period in many countries across the globe due to the outbreak of COVID-19 will moderately impact the growth and adoption of meter data management. Companies are most likely to resist investing in new technology with the economic depression across the globe. The cost of system downtime will also impact the demand for meter data management.
Global Meter Data Management Market – Competitive Landscape
- In October 2018, Landis+Gyr released the 4.0 version of its meter data management system (MDMS) software with added support for complex metering operations to assist utilities with advanced business process automation which will enable retroactive processing of metering master data
Established in 1896, Landis+Gyr is the leading global provider of integrated energy management solutions for the utility sector. The company provides comprehensive solutions for the foundation of a smarter grid, including smart metering, distribution network sensing, and automation tools, load control, analytics, and energy storage.
Global Meter Data Management Market: Segmentation
The global meter data management market can be segmented based on:
Global Meter Data Management Market, by Component
Based on component, the global meter data management market can be divided into:
Global Meter Data Management Market, by Deployment
Based on deployment, the global meter data management market can be divided into:
Regional Analysis of the Global Meter Data Management Market:
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.