The Latin America, Middle East and Africa Smart Meter Data Management Market would witness market growth of 19.0% CAGR during the forecast period (2023-2030).
Smart meter data management software assists businesses and organizations in analyzing vast amounts of data in order to unearth important information and improve decision-making capabilities. Moreover, it offers businesses with a centralized data collection center, streamlines the data validation process, and gives real-time updates on numerous crucial concerns in data acquired from smart meters. In addition, the smart meter data management system collects data from analogue and smart meters, aggregates and validates the information, and determines billing determinants.
Consolidation of enormous volumes of data in one system, handling of analogue and interval data, and giving consumers detailed information about their energy consumption are just a few of the advantages associated with smart meter data management. Conversely, a considerable rise in meter data volume because of collecting interval data drives utilities to use next-generation meter data management solutions, which is expected to open up several lucrative growth opportunities.
Middle Eastern governments have recognized the need to improve its grid network to meet international standards and have begun enacting subsidy reform policies and building methods to fund energy modernization. As a result, market challenges such as inadequate planning, insufficient finance, large non-technical losses owing to energy theft, unstable energy supply and demand, and bad consumer energy have been overcome. Hence, these aspects are set to boost the growth of the regional market throughout the forecast period.
The Brazil market dominated the LAMEA 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 $102.5 million by 2030. The Argentina market is showcasing a CAGR of 19.6% during (2023 - 2030). Additionally, The UAE market would register 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Smart Meter Data Management Market is Projected to reach USD 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.
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