The smart meter data management denotes to the long-term data storage and management of massive quantity of data delivered by the several smart meters. In addition, it supports organizations to pucker, store, and course all variates of data to support the organizations to deal with augment in the volume of data and delivers the useful information for getting the better insights. Furthermore, it allows the organization to import the data, authorize the data, and cleanse and procedure it before creating it available for the several analysis and billing procedure. In addition, the several systems associated with the smart meter data management system involve the meter-to-cash system, workforce management system, asset management, and several other systems.
According to the report analysis, ‘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’ states that in the U.S smart Meter data management market there are numerous companies which presently functioning more effectively for leading the fastest market growth and dominating the handsome value of market share around the globe during the forecast years while spreading the awareness related to the smart meter data management, delivering the better consumer satisfaction concerned to the smart meter data management, decreasing the associated price, increasing the applications of the smart meters, studying and analyzing the strategies and policies of the government and competitors, employing the young work force, and implementing the profitable strategies includes Oracle Corporation, Arad Group, Trilliant Holdings, Inc., Elster Group GmbH, Itron, Siemens AG, Aclara Technologies LLC, Enoro, ElectSolve Technology Solutions & Services, Inc., Landis+Gyr and several others.
In addition, the U.S. smart meter data managements market is sectored on the basis of component, deployment mode, application and region. By component, the market is classified into software and services. The software sector is further divided into meter data management system (MDMS), meter data analytics (MDA), and software communication. Services are further studied around consulting, project management, implementation & integration, and many other support services. By deployment type, it is sectored into cloud based and on-premise. Based on the application the market is classified into electric, gas and water. By country, the market is analyzed around the U.S.
Whereas, the effective growth in the demand for smart meters around the U.S. to efficiently use energy sources and monitor energy consumption propel the market growth. Further, the supportive rules and regulations, as well as initiatives commenced by the governing bodies of the nation, boost the requirement for the smart meter data management products. However, the great cost of these meters and management of extraordinary volume of data are projected to restrict the market growth. Nevertheless, augment in the volume of meter data & high requirement for the predictive analysis and integration of advance technologies such as AI in smart meter data management are projected to offer considerable growth choices for the smart meter data management market. Therefore, in the near years, it is anticipated that the market of U.S. Smart meter data management will increase around the globe over the inflowing years more significantly.
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Ankur Gupta, Head Marketing & Communications