Meter data management sector to pass $10 billion in revenue

electric meter elp

According to a recent report from Navigant Research, revenue for meter data management systems and analytics is expected to total $10.3 billion from 2015 to 2024.

A recent report from Navigant Research analyzes the market for MDM systems and meter data analytics (MDA), with global market forecasts for revenue, broken out by segment and region, through 2024.

Today, the United States alone logs billions of data points every day from more than 50 million installed smart electric meters. The increasing volume of meter data and new applications that rely on this data, such as demand-side management and grid optimization, have driven the need for enhanced MDM systems and MDA.

“There is a growing emphasis on converging data from external sources for the purpose of more advanced, predictive analytics,” says Lauren Callaway, research analyst with Navigant Research. “This has supported developments in MDA technologies that have the capability of dealing with differently structured forms of data, generating prescriptive and predictive insights.”

As more and more networked devices penetrate the distribution grid, the need to evolve MDM technology has become increasingly apparent, according to the report. The increasing need for both prescriptive and predictive analytics as a method for gaining insight and taking action supports developments in MDA solutions, and MDM systems are a critical technology in this evolution.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Latest Energy Jobs

View more Job Listings >>

Archived Articles

PennEnergy Articles
2008 | 2009 | 2010 | 2011 | 2012 | 2013

OGJ Articles
2011 | 2012 | 2013

OGFJ Articles
2011 | 2012 | 2013

Power Engineering Articles
2011 | 2012 | 2013

Power Engineering Intl Articles
2011 | 2012 | 2013

Utility Products Articles
2011 | 2012 | 2013

HydroWorld Articles
2011 | 2012 | 2013

COSPP Articles
2011 | 2012 | 2013

ELP Articles
2011 | 2012 | 2013