Frost & Sullivan: Surge in Smart Meter Installations to Support European Meter Data Management Market
Aug 21, 2014 UncategorizedComments Off on Frost & Sullivan: Surge in Smart Meter Installations to Support European Meter Data Management Market
— Finding a balance between cost and functionality must be at the core of MDM vendor strategies
LONDON, Aug. 21, 2014 /PRNewswire/ — Although the scope for meter data management (MDM) in Europe is currently limited, the market is expected to take off in the foreseeable future. The main driver for the adoption of MDM solutions is the need for utilities to manage and use the growing volume and variety of data created by widespread smart meter installation. As awareness grows on the importance of high-volume data management and data pattern analytics, MDM will become an important investment category for the deployment of smart meters.
New analysis from Frost & Sullivan, Evolution of the European Meter Data Management Market, finds that despite significant investments, the pace of implementation of smart meters differs by country. Majority of European countries are running pilots while others are preparing for mass rollouts.
Initially, demand for MDM solutions will come from large distribution system operators with many mid-size companies following suit.
“Although many utilities still fail to consider smart metering as a software project, the number of those that demonstrate strong interest in energy loss reduction and asset management is on increase,” said