Meter Data Management System Market
PUBLISHED: 2024 ID: SMRC26211
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Meter Data Management System Market

Meter Data Management System Market Forecasts to 2030 - Global Analysis By Utility Type (Water, Electricity and Gas), Component (Software, Services and Hardware), Deployment Type, Application, End User and by Geography

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4.4 (81 reviews)
Published: 2024 ID: SMRC26211

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Meter Data Management System Market is accounted for $0.14 billion in 2023 and is expected to reach $0.60 billion by 2030 growing at a CAGR of 22.2% during the forecast period. A meter data management system is a software solution that collects, stores, manages, and analyzes data from utility meters. It enables utilities to efficiently handle vast amounts of metering data, including consumption patterns, billing information, and operational metrics. The system facilitates accurate billing, identifies usage trends, detects anomalies, and supports decision-making processes within the utility sector. 

According to a report from the Edison Foundation published in 2018, the U.S. alone logs around one million of data points every day from more than 46 million installed smart meters.

Market Dynamics: 

Driver: 

Rising customer demand for energy transparency

Consumers are increasingly seeking detailed insights into their energy usage patterns, costs, and environmental impact. This shift reflects a growing awareness and concern for sustainability, cost optimization, and informed decision-making. As a result, providers are focusing on enhancing transparency features within their systems to meet these evolving customer expectations and regulatory requirements efficiently. Thus, the market is witnessing a surge in customer demand for energy transparency.

Restraint:

Data security concerns

Data security is a paramount concern in the market due to its sensitive nature. Challenges include safeguarding against cyber threats like hacking and data breaches, ensuring compliance with regulatory standards and implementing robust encryption protocols for data transmission and storage. Additionally, maintaining data integrity, protecting against insider threats and regularly updating security measures pose ongoing challenges in this rapidly evolving market.

Opportunity:

Growth of electric and hybrid vehicles

The market is witnessing a notable surge in the adoption of electric and hybrid vehicles, reflecting a broader shift towards sustainable transportation solutions. This trend is driven by increasing environmental awareness, government incentives, and technological advancements in battery technology. As more consumers and businesses embrace eco-friendly alternatives, the demand for systems capable of managing the unique data requirements of electric and hybrid vehicles is expected to grow significantly in the coming years.

Threat:

High implementation costs

The market faces significant challenges due to high implementation costs. These costs encompass hardware, software, integration, customization, and ongoing maintenance. Additionally, regulatory requirements often necessitate specific functionalities, further adding to the expenses. Moreover, the complexity of data management and security standards contributes to the overall implementation costs.

Covid-19 Impact: 

The COVID-19 pandemic significantly impacted the market, leading to fluctuations in demand and deployment timelines. While initial disruptions slowed investment and implementation, the emphasis on remote operations and digital transformation bolstered demand for the solutions. Companies prioritized data analytics, real-time monitoring, and operational efficiency, driving market recovery and accelerated adoption post-pandemic.

The water segment is expected to be the largest during the forecast period

The water segment is expected to be the largest during the forecast period driven by advancements in smart water management technologies. These systems efficiently collect, analyze, and manage water consumption data, enabling utilities to optimize operations and improve customer service. With increasing concerns about water conservation and sustainability, the demand for these systems is expected to raise further, fostering innovation and competition among key players in the market.

The smartgrid segment is expected to have the highest CAGR during the forecast period

The smartgrid segment is expected to have the highest CAGR during the forecast period fueled by advancements in IoT, AI, and cloud technologies. Utilities are leveraging smart meters to gather real-time data on energy consumption, enhancing operational efficiency and enabling demand-response programs. This evolution is driving the integration of smart grid solutions into MDM systems, facilitating data analytics, predictive maintenance, and grid optimization, thereby fostering a more resilient and sustainable energy infrastructure.

Region with largest share:

North America is projected to hold the largest market share during the forecast period. The widespread adoption of smart grid technologies, including smart meters, has fueled the demand for the solutions. These systems enable utilities to collect, validate, and process metering data in real-time, allowing for better grid management and customer service. Regulatory mandates and initiatives aimed at promoting energy efficiency and grid modernization have also contributed to the growth of the market.

Region with highest CAGR:

Asia Pacific is projected to hold the highest CAGR over the forecast period. With rapid urbanization, industrialization, and population growth, there's a rising demand for energy in many countries. It helps utilities better understand and manage energy consumption patterns, optimize distribution, and enhance overall grid reliability. The advancements in cloud computing, big data analytics, and Internet of Things (IoT) technologies have made the solutions more sophisticated and cost-effective. 

Key players in the market

Some of the key players in Meter Data Management System market include Honeywell, Itron, Inc., Siemens AG, Landis+Gyr, Schneider Electric, ABB Group, Eaton, Kamstrup A/S, DIEHL, Aclara Technologies LLC, Oracle Corporation, Trilliant Holdings, Inc., Toshiba Corporation, IBM Corporation, Neptune Technology Group Inc., CyanConnode and Avertra Corporation.

Key Developments:

In February 2024, ABB announced that it has entered into an agreement to acquire SEAM Group, a major provider of energized asset management and advisory services to clients across industrial and commercial building markets.The acquisition will complement ABB’s Electrification Service offering, bringing significant additional expertise to customers in the areas of predictive, preventive, and corrective maintenance, electrical safety, renewables and asset management advisory services.

In September 2023, Intelligent power management company Eaton announced an exclusive global alliance with Michigan-based technology developer Traxen to sell, distribute, service, and provide installation support for their cutting-edge iQ-Cruise® system. This collaboration aims to support the commercial transportation industry by improving fuel efficiency and environmental sustainability while helping fleet profitability.

In January 2023, Landis+Gyr Technology Inc., a subsidiary of Landis+Gyr Group AG and a U.S. investor-owned utility, have entered into a new agreement regarding the modernization of the utility’s metering software infrastructure. The utility’s plans to undertake such modernization is still subject to regulatory approval.

Utility Types Covered:
• Water
• Electricity
• Gas

Components Covered:
• Software
• Services
• Hardware

Deployment Types Covered:
• On-Premises
• Cloud-Based

Applications Covered:
• Energy Storage
• EV charging
• Smartgrid
• Microgrid
• Other Applications

End Users Covered:
• Residential
• Commercial
• Industrial
• Other End Users 

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary       
        
2 Preface       
 2.1 Abstract      
 2.2 Stake Holders      
 2.3 Research Scope      
 2.4 Research Methodology      
  2.4.1 Data Mining     
  2.4.2 Data Analysis     
  2.4.3 Data Validation     
  2.4.4 Research Approach     
 2.5 Research Sources      
  2.5.1 Primary Research Sources     
  2.5.2 Secondary Research Sources     
  2.5.3 Assumptions     
        
3 Market Trend Analysis       
 3.1 Introduction      
 3.2 Drivers      
 3.3 Restraints      
 3.4 Opportunities      
 3.5 Threats      
 3.6 Application Analysis      
 3.7 End User Analysis      
 3.8 Emerging Markets      
 3.9 Impact of Covid-19      
        
4 Porters Five Force Analysis       
 4.1 Bargaining power of suppliers      
 4.2 Bargaining power of buyers      
 4.3 Threat of substitutes      
 4.4 Threat of new entrants      
 4.5 Competitive rivalry      
        
5 Global Meter Data Management System Market, By Utility Type       
 5.1 Introduction      
 5.2 Water      
 5.3 Electricity      
 5.4 Gas      
        
6 Global Meter Data Management System Market, By Component       
 6.1 Introduction      
 6.2 Software      
 6.3 Services      
 6.4 Hardware      
        
7 Global Meter Data Management System Market, By Deployment Type       
 7.1 Introduction      
 7.2 On-Premises      
 7.3 Cloud-Based      
        
8 Global Meter Data Management System Market, By Application       
 8.1 Introduction      
 8.2 Energy Storage      
 8.3 EV charging      
 8.4 Smartgrid      
 8.5 Microgrid      
 8.6 Other Applications      
        
9 Global Meter Data Management System Market, By End User       
 9.1 Introduction      
 9.2 Residential      
 9.3 Commercial      
 9.4 Industrial      
 9.5 Other End Users      
        
10 Global Meter Data Management System Market, By Geography       
 10.1 Introduction      
 10.2 North America      
  10.2.1 US     
  10.2.2 Canada     
  10.2.3 Mexico     
 10.3 Europe      
  10.3.1 Germany     
  10.3.2 UK     
  10.3.3 Italy     
  10.3.4 France     
  10.3.5 Spain     
  10.3.6 Rest of Europe     
 10.4 Asia Pacific      
  10.4.1 Japan     
  10.4.2 China     
  10.4.3 India     
  10.4.4 Australia     
  10.4.5 New Zealand     
  10.4.6 South Korea     
  10.4.7 Rest of Asia Pacific     
 10.5 South America      
  10.5.1 Argentina     
  10.5.2 Brazil     
  10.5.3 Chile     
  10.5.4 Rest of South America     
 10.6 Middle East & Africa      
  10.6.1 Saudi Arabia     
  10.6.2 UAE     
  10.6.3 Qatar     
  10.6.4 South Africa     
  10.6.5 Rest of Middle East & Africa     
        
11 Key Developments       
 11.1 Agreements, Partnerships, Collaborations and Joint Ventures      
 11.2 Acquisitions & Mergers      
 11.3 New Product Launch      
 11.4 Expansions      
 11.5 Other Key Strategies      
        
12 Company Profiling       
 12.1 Honeywell      
 12.2 Itron, Inc.      
 12.3 Siemens AG      
 12.4 Landis+Gyr      
 12.5 Schneider Electric      
 12.6 ABB Group      
 12.7 Eaton      
 12.8 Kamstrup A/S      
 12.9 DIEHL      
 12.10 Aclara Technologies LLC      
 12.11 Oracle Corporation      
 12.12 Trilliant Holdings, Inc.      
 12.12 Toshiba Corporation      
 12.13 IBM Corporation      
 12.15 Neptune Technology Group Inc.      
 12.16 CyanConnode      
 12.17 Avertra Corporation      
        
List of Tables        
1 Global Meter Data Management System Market Outlook, By Region (2021-2030) ($MN)       
2 Global Meter Data Management System Market Outlook, By Utility Type (2021-2030) ($MN)       
3 Global Meter Data Management System Market Outlook, By Water (2021-2030) ($MN)       
4 Global Meter Data Management System Market Outlook, By Electricity (2021-2030) ($MN)       
5 Global Meter Data Management System Market Outlook, By Gas (2021-2030) ($MN)       
6 Global Meter Data Management System Market Outlook, By Component (2021-2030) ($MN)       
7 Global Meter Data Management System Market Outlook, By Software (2021-2030) ($MN)       
8 Global Meter Data Management System Market Outlook, By Services (2021-2030) ($MN)       
9 Global Meter Data Management System Market Outlook, By Hardware (2021-2030) ($MN)       
10 Global Meter Data Management System Market Outlook, By Deployment Type (2021-2030) ($MN)       
11 Global Meter Data Management System Market Outlook, By On-Premises (2021-2030) ($MN)       
12 Global Meter Data Management System Market Outlook, By Cloud-Based (2021-2030) ($MN)       
13 Global Meter Data Management System Market Outlook, By Application (2021-2030) ($MN)       
14 Global Meter Data Management System Market Outlook, By Energy Storage (2021-2030) ($MN)       
15 Global Meter Data Management System Market Outlook, By EV charging (2021-2030) ($MN)       
16 Global Meter Data Management System Market Outlook, By Smartgrid (2021-2030) ($MN)       
17 Global Meter Data Management System Market Outlook, By Microgrid (2021-2030) ($MN)       
18 Global Meter Data Management System Market Outlook, By Other Applications (2021-2030) ($MN)       
19 Global Meter Data Management System Market Outlook, By End User (2021-2030) ($MN)       
20 Global Meter Data Management System Market Outlook, By Residential (2021-2030) ($MN)       
21 Global Meter Data Management System Market Outlook, By Commercial (2021-2030) ($MN)       
22 Global Meter Data Management System Market Outlook, By Industrial (2021-2030) ($MN)       
23 Global Meter Data Management System Market Outlook, By Other End Users (2021-2030) ($MN)       
24 North America Meter Data Management System Market Outlook, By Country (2021-2030) ($MN)       
25 North America Meter Data Management System Market Outlook, By Utility Type (2021-2030) ($MN)       
26 North America Meter Data Management System Market Outlook, By Water (2021-2030) ($MN)       
27 North America Meter Data Management System Market Outlook, By Electricity (2021-2030) ($MN)       
28 North America Meter Data Management System Market Outlook, By Gas (2021-2030) ($MN)       
29 North America Meter Data Management System Market Outlook, By Component (2021-2030) ($MN)       
30 North America Meter Data Management System Market Outlook, By Software (2021-2030) ($MN)       
31 North America Meter Data Management System Market Outlook, By Services (2021-2030) ($MN)       
32 North America Meter Data Management System Market Outlook, By Hardware (2021-2030) ($MN)       
33 North America Meter Data Management System Market Outlook, By Deployment Type (2021-2030) ($MN)       
34 North America Meter Data Management System Market Outlook, By On-Premises (2021-2030) ($MN)       
35 North America Meter Data Management System Market Outlook, By Cloud-Based (2021-2030) ($MN)       
36 North America Meter Data Management System Market Outlook, By Application (2021-2030) ($MN)       
37 North America Meter Data Management System Market Outlook, By Energy Storage (2021-2030) ($MN)       
38 North America Meter Data Management System Market Outlook, By EV charging (2021-2030) ($MN)       
39 North America Meter Data Management System Market Outlook, By Smartgrid (2021-2030) ($MN)       
40 North America Meter Data Management System Market Outlook, By Microgrid (2021-2030) ($MN)       
41 North America Meter Data Management System Market Outlook, By Other Applications (2021-2030) ($MN)       
42 North America Meter Data Management System Market Outlook, By End User (2021-2030) ($MN)       
43 North America Meter Data Management System Market Outlook, By Residential (2021-2030) ($MN)       
44 North America Meter Data Management System Market Outlook, By Commercial (2021-2030) ($MN)       
45 North America Meter Data Management System Market Outlook, By Industrial (2021-2030) ($MN)       
46 North America Meter Data Management System Market Outlook, By Other End Users (2021-2030) ($MN)       
47 Europe Meter Data Management System Market Outlook, By Country (2021-2030) ($MN)       
48 Europe Meter Data Management System Market Outlook, By Utility Type (2021-2030) ($MN)       
49 Europe Meter Data Management System Market Outlook, By Water (2021-2030) ($MN)       
50 Europe Meter Data Management System Market Outlook, By Electricity (2021-2030) ($MN)       
51 Europe Meter Data Management System Market Outlook, By Gas (2021-2030) ($MN)       
52 Europe Meter Data Management System Market Outlook, By Component (2021-2030) ($MN)       
53 Europe Meter Data Management System Market Outlook, By Software (2021-2030) ($MN)       
54 Europe Meter Data Management System Market Outlook, By Services (2021-2030) ($MN)       
55 Europe Meter Data Management System Market Outlook, By Hardware (2021-2030) ($MN)       
56 Europe Meter Data Management System Market Outlook, By Deployment Type (2021-2030) ($MN)       
57 Europe Meter Data Management System Market Outlook, By On-Premises (2021-2030) ($MN)       
58 Europe Meter Data Management System Market Outlook, By Cloud-Based (2021-2030) ($MN)       
59 Europe Meter Data Management System Market Outlook, By Application (2021-2030) ($MN)       
60 Europe Meter Data Management System Market Outlook, By Energy Storage (2021-2030) ($MN)       
61 Europe Meter Data Management System Market Outlook, By EV charging (2021-2030) ($MN)       
62 Europe Meter Data Management System Market Outlook, By Smartgrid (2021-2030) ($MN)       
63 Europe Meter Data Management System Market Outlook, By Microgrid (2021-2030) ($MN)       
64 Europe Meter Data Management System Market Outlook, By Other Applications (2021-2030) ($MN)       
65 Europe Meter Data Management System Market Outlook, By End User (2021-2030) ($MN)       
66 Europe Meter Data Management System Market Outlook, By Residential (2021-2030) ($MN)       
67 Europe Meter Data Management System Market Outlook, By Commercial (2021-2030) ($MN)       
68 Europe Meter Data Management System Market Outlook, By Industrial (2021-2030) ($MN)       
69 Europe Meter Data Management System Market Outlook, By Other End Users (2021-2030) ($MN)       
70 Asia Pacific Meter Data Management System Market Outlook, By Country (2021-2030) ($MN)       
71 Asia Pacific Meter Data Management System Market Outlook, By Utility Type (2021-2030) ($MN)       
72 Asia Pacific Meter Data Management System Market Outlook, By Water (2021-2030) ($MN)       
73 Asia Pacific Meter Data Management System Market Outlook, By Electricity (2021-2030) ($MN)       
74 Asia Pacific Meter Data Management System Market Outlook, By Gas (2021-2030) ($MN)       
75 Asia Pacific Meter Data Management System Market Outlook, By Component (2021-2030) ($MN)       
76 Asia Pacific Meter Data Management System Market Outlook, By Software (2021-2030) ($MN)       
77 Asia Pacific Meter Data Management System Market Outlook, By Services (2021-2030) ($MN)       
78 Asia Pacific Meter Data Management System Market Outlook, By Hardware (2021-2030) ($MN)       
79 Asia Pacific Meter Data Management System Market Outlook, By Deployment Type (2021-2030) ($MN)       
80 Asia Pacific Meter Data Management System Market Outlook, By On-Premises (2021-2030) ($MN)       
81 Asia Pacific Meter Data Management System Market Outlook, By Cloud-Based (2021-2030) ($MN)       
82 Asia Pacific Meter Data Management System Market Outlook, By Application (2021-2030) ($MN)       
83 Asia Pacific Meter Data Management System Market Outlook, By Energy Storage (2021-2030) ($MN)       
84 Asia Pacific Meter Data Management System Market Outlook, By EV charging (2021-2030) ($MN)       
85 Asia Pacific Meter Data Management System Market Outlook, By Smartgrid (2021-2030) ($MN)       
86 Asia Pacific Meter Data Management System Market Outlook, By Microgrid (2021-2030) ($MN)       
87 Asia Pacific Meter Data Management System Market Outlook, By Other Applications (2021-2030) ($MN)       
88 Asia Pacific Meter Data Management System Market Outlook, By End User (2021-2030) ($MN)       
89 Asia Pacific Meter Data Management System Market Outlook, By Residential (2021-2030) ($MN)       
90 Asia Pacific Meter Data Management System Market Outlook, By Commercial (2021-2030) ($MN)       
91 Asia Pacific Meter Data Management System Market Outlook, By Industrial (2021-2030) ($MN)       
92 Asia Pacific Meter Data Management System Market Outlook, By Other End Users (2021-2030) ($MN)       
93 South America Meter Data Management System Market Outlook, By Country (2021-2030) ($MN)       
94 South America Meter Data Management System Market Outlook, By Utility Type (2021-2030) ($MN)       
95 South America Meter Data Management System Market Outlook, By Water (2021-2030) ($MN)       
96 South America Meter Data Management System Market Outlook, By Electricity (2021-2030) ($MN)       
97 South America Meter Data Management System Market Outlook, By Gas (2021-2030) ($MN)       
98 South America Meter Data Management System Market Outlook, By Component (2021-2030) ($MN)       
99 South America Meter Data Management System Market Outlook, By Software (2021-2030) ($MN)       
100 South America Meter Data Management System Market Outlook, By Services (2021-2030) ($MN)       
101 South America Meter Data Management System Market Outlook, By Hardware (2021-2030) ($MN)       
102 South America Meter Data Management System Market Outlook, By Deployment Type (2021-2030) ($MN)       
103 South America Meter Data Management System Market Outlook, By On-Premises (2021-2030) ($MN)       
104 South America Meter Data Management System Market Outlook, By Cloud-Based (2021-2030) ($MN)       
105 South America Meter Data Management System Market Outlook, By Application (2021-2030) ($MN)       
106 South America Meter Data Management System Market Outlook, By Energy Storage (2021-2030) ($MN)       
107 South America Meter Data Management System Market Outlook, By EV charging (2021-2030) ($MN)       
108 South America Meter Data Management System Market Outlook, By Smartgrid (2021-2030) ($MN)       
109 South America Meter Data Management System Market Outlook, By Microgrid (2021-2030) ($MN)       
110 South America Meter Data Management System Market Outlook, By Other Applications (2021-2030) ($MN)       
111 South America Meter Data Management System Market Outlook, By End User (2021-2030) ($MN)       
112 South America Meter Data Management System Market Outlook, By Residential (2021-2030) ($MN)       
113 South America Meter Data Management System Market Outlook, By Commercial (2021-2030) ($MN)       
114 South America Meter Data Management System Market Outlook, By Industrial (2021-2030) ($MN)       
115 South America Meter Data Management System Market Outlook, By Other End Users (2021-2030) ($MN)       
116 Middle East & Africa Meter Data Management System Market Outlook, By Country (2021-2030) ($MN)       
117 Middle East & Africa Meter Data Management System Market Outlook, By Utility Type (2021-2030) ($MN)       
118 Middle East & Africa Meter Data Management System Market Outlook, By Water (2021-2030) ($MN)       
119 Middle East & Africa Meter Data Management System Market Outlook, By Electricity (2021-2030) ($MN)       
120 Middle East & Africa Meter Data Management System Market Outlook, By Gas (2021-2030) ($MN)       
121 Middle East & Africa Meter Data Management System Market Outlook, By Component (2021-2030) ($MN)       
122 Middle East & Africa Meter Data Management System Market Outlook, By Software (2021-2030) ($MN)       
123 Middle East & Africa Meter Data Management System Market Outlook, By Services (2021-2030) ($MN)       
124 Middle East & Africa Meter Data Management System Market Outlook, By Hardware (2021-2030) ($MN)       
125 Middle East & Africa Meter Data Management System Market Outlook, By Deployment Type (2021-2030) ($MN)       
126 Middle East & Africa Meter Data Management System Market Outlook, By On-Premises (2021-2030) ($MN)       
127 Middle East & Africa Meter Data Management System Market Outlook, By Cloud-Based (2021-2030) ($MN)       
128 Middle East & Africa Meter Data Management System Market Outlook, By Application (2021-2030) ($MN)       
129 Middle East & Africa Meter Data Management System Market Outlook, By Energy Storage (2021-2030) ($MN)       
130 Middle East & Africa Meter Data Management System Market Outlook, By EV charging (2021-2030) ($MN)       
131 Middle East & Africa Meter Data Management System Market Outlook, By Smartgrid (2021-2030) ($MN)       
132 Middle East & Africa Meter Data Management System Market Outlook, By Microgrid (2021-2030) ($MN)       
133 Middle East & Africa Meter Data Management System Market Outlook, By Other Applications (2021-2030) ($MN)       
134 Middle East & Africa Meter Data Management System Market Outlook, By End User (2021-2030) ($MN)       
135 Middle East & Africa Meter Data Management System Market Outlook, By Residential (2021-2030) ($MN)       
136 Middle East & Africa Meter Data Management System Market Outlook, By Commercial (2021-2030) ($MN)       
137 Middle East & Africa Meter Data Management System Market Outlook, By Industrial (2021-2030) ($MN)       
138 Middle East & Africa Meter Data Management System Market Outlook, By Other End Users (2021-2030) ($MN)      

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

Frequently Asked Questions

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