A smart meter is a series of underground transformers, transmission lines and meters that deliver power from the main power plant to the consumer. These meters offer valuable information about energy use. They are designed for easy installation by homeowners and businesses and have many advantages, which boosts their adoption, thereby aiding in growth of the advanced metering infrastructure market. For instance, they help you monitor consumption and allow you to adjust your energy-conserving appliances and lights to achieve a balanced bill.
Increasing adoption of advanced metering infrastructure is expected to propel growth of advanced metering infrastructure market. Advanced metering infrastructure has the ability to provide utility companies with accurate energy consumption data to support energy-efficiency efforts. The infrastructure also offers utilities several additional benefits. Because the readings are taken on site, there are no delays in the reading or recording process. If a smart meter is used, an employee only needs to be present to initially install the device. Once installed, all that is needed is a computer terminal and an Internet connection. This eliminates the need for employees to drive to the utility company's place of business and manually record electricity usage.
The smart grid concept in the advanced metering infrastructure market is gaining momentum across the globe. Smart meters are an important part of the smart grid. Many utilities across the globe have already installed smart grid technology in their service areas or are in the process of doing so, which is further propelling growth of the advanced metering infrastructure market.
Increasing deployment of smart meters is expected to propel growth of the advanced metering infrastructure market. In September 2020, ADD GRUP, together with its partners Intrarom S.A. and Adrem SRL finalized the contract for delivery and deployment of 10 000 ADDAX smart meters to Distributie Energie Oltenia S.A. (DEO), Romania.
The primary goal of smart meter systems in the advanced metering infrastructure market is to provide utility companies with real-time energy usage information. This in turn helps utilities better manage their fleet, which will, in turn, improve their customer service. By providing accurate energy usage information, smart meters provide utilities with crucial data to help them establish both effective energy-saving programs and more efficient methods of delivering service.
Players operating in the advanced metering infrastructure market are focused on enhancing the security capabilities of their solutions. In June 2021, Networked Energy Solutions selected the Cryptsoft KMIP Key Management SDK to enhance the security capabilities of their advanced metering infrastructure solutions.
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