The meter data management system market in Europe is expected to grow from US$ 274.4 Mn in 2018 to US$ 961.8Mn by the year 2027 at a CAGR of 14.6% during the forecast period.
The meter data management solutions provide transparency for the utilities and municipalities, and thereby enable significantly increased efficiency in reading, billing and service processes. The smart grids and smart metering rollout will help the EU to reduce emissions in the region by up to 9% as well as the annual energy consumption of households by comparable amounts. For measuring cost-effectiveness, EU countries performed cost-benefit analyses on the basis of guidelines specified by the European Commission (EC). Also, a similar assessment was conducted on smart meters for gas. By 2020, the European Union (EU) targets to upgrade at least 80% of the region’s electricity meters with smart meters at every place where it is economical to do so.
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The List of Companies – Europe Meter Data Management System Market
- ABB Ltd.
- Aclara Technologies LLC
- Diehl Metering GmbH
- Eaton Corporation
- Honeywell International, Inc
- Itron Inc
- Kamstrup A/S
- Landis+Gyr Group AG
- Schneider Electric SE
- Siemens AG
With the constantly growing EV market in the region, the installment of EV charging stations across Europe is anticipated to accelerate at a rapid pace. In 2018, the European Investment Bank (EIB) provided ~US$ 44.5 Mn as quasi-equity in Allego Holding BV, a provider and operator of EV charging infrastructure across Europe. The funding is to support EV charging infrastructure in the region.
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