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Meter Data Management Application Market Going to Witness Exponential Growth Worldwide

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IT Applications Market in Global Utilities to 2020 - Meter Data Management Emerging as a Key Application towards Cost Efficient and Customer Centric Future

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Meter Data Management Application Market Going to Witness Exponential Growth Worldwide

Meter to Cash is one of the most important processes of a utility and meter readings are their biggest assets. Utilities invest heavily in new technologies in order to make their meter reading process more efficient and error free. There has been significant technological advancement to improve the meter reading process from handheld devices to automated meter reading systems. The latest advancement in the meter reading process is Advanced Metering Infrastructure, which allows utilities to not only collect meter reading in a more efficient way but also enables the two way communication between the meter at consumer premises and utility systems. With the advent of AMI, smart meters would be able to record meter readings at every 15 minute interval. Now consider a big utility serving millions of customers, would be generating billions of readings per month. To manage the data of this quantum and to be able to fully extract the useful information from this data, utilities would be requiring a innovative IT system, which can clean, validate, process and transform this data into manageable and usable information.

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Increasing Customer Awareness Will Squeeze the Margins for Utilities – IT Applications Can Help in Maintaining the Profitability

Financial crisis and increasing focus on carbon foot printing, has made customers much more aware about their consumption rates. Now days, customers are much more conscious about their consumption patterns and prices they are paying for it. Consumers are demanding for reliable services at more economic rates, and this has led to decrease in profit margins for the utilities. Utilities are faced by challenges to reduce their costs and to improve their operational efficiency. Thus, to successfully face these challenges the key is to increase productivity and IT solutions can help a utility to integrate its several business processes and increase their productivity.It is estimated that the market for IT applications would grow from $1,430 m in 2009 to $5,720 m in 2020 growing at a CAGR of 13.3%.

For further details, please click or add the below link to your browser:

http://www.gbiresearch.com/Report.aspx?ID=IT-Applications-Market-in-Global-Utilities-to-2020-Meter-Data-Management-Emerging-as-a-Key-Application-Towards-Cost-Efficient-and-Customer-Centric-Future&ReportType=Industry_Report&coreindustry=ALL&Title=Power_~_Alternative_Energy

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Privatization and Deregulation of Utilities is Going to Spur the Competition – Customer Retention is the Key to Success

Across the world, most of the utilities are usually state owned, but in order to provide more competitive and enhanced services to customers, more and more countries are deregulating or privatizing the utilities. Deregulation and Privatization of the utilities will allow open access of networks and more than one player would be able to serve a territory, this will lead to competition in the market. In order to safeguard their revenues the utilities have to step up their service levels and provide satisfactory services to their customers. With time utilities have realize that it is much more economic to retain existing customers than to acquire new customers. Thus, many IT applications like CRM, which help utilities to understand their customer’s requirements and maintain profitable relationship with them, would become inevitable.

Increasing Focus Renewable Generation Sources & Smart Grid Initiatives – Stimulate the Demand for IT applications

To curb the adverse effects of global warming, many governments are taking several initiatives to reduce their emission levels. This has led to increased focus on renewable energy generation sources like wind power, solar power and others. As the power generating plants are placed near the natural sources and the production capacity varies with the availability of the natural resource.

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This leads to uncertainty in the power supply, to counter these utilities are taking many Smart Grid initiatives so as to be able to integrate renewable sources in their existing infrastructure. Thus, many Smart Grid initiatives like smart metering, network management and others would spur the demand for several IT applications like MDM, GIS.

For further details, please click or add the below link to your browser:

http://www.gbiresearch.com/Report.aspx?ID=IT-Applications-Market-in-Global-Utilities-to-2020-Meter-Data-Management-Emerging-as-a-Key-Application-Towards-Cost-Efficient-and-Customer-Centric-Future&ReportType=Industry_Report&coreindustry=ALL&Title=Power_~_Alternative_Energy

GBI Research, a leading business intelligence provider, has released its latest research, “IT Applications Market in Global Utilities to 2020 - Meter Data Management Emerging as a Key Application towards Cost Efficient and Customer Centric Future”. The report gives an in-depth analysis of the global market for IT applications in utilities till 2020, covering four major regions – North America (USA and Canada), Europe, Asia–Pacific and the Rest of the World (South and Central America, the Middle East and Africa).

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The research analyzes the upcoming trends and major challenges faced by utilities in current market scenario and key drivers of various IT applications in the utility industry. The report covers market revenue forecasts of the IT applications market in the utility industry for all the above mentioned regions. It also provides a detailed forecast of the market revenues for three major IT applications deployed in utility industry – Meter Data Management (MDM), Geographic Information Systems (GIS) and Customer Relationship Management (CRM) - up to 2020.The report also includes technological analysis, competitive landscape, market trends, major drivers and challenges for these applications. This report is built using data and information sourced from proprietary databases, primary and secondary research, interviews with industry participants and in-house analysis by GBI Research’s team of industry experts.

For further details, please click or add the below link to your browser:

http://www.gbiresearch.com/Report.aspx?ID=IT-Applications-Market-in-Global-Utilities-to-2020-Meter-Data-Management-Emerging-as-a-Key-Application-Towards-Cost-Efficient-and-Customer-Centric-Future&ReportType=Industry_Report&coreindustry=ALL&Title=Power_~_Alternative_Energy

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Visit our report store: http://www.gbiresearch.com

For more details contact:

pressreleases@gbiresearch.com

North America: +1 646 395 5477

Europe: +44 207 753 4299

+44 1204 543 533

Asia Pacific: +91 40 6616 6782