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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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.

Europe is expected to grow at a good CAGR during the forecast period. For example, the UK National Grid is working with local Pivot Power LLP for the development of one of the world's largest networks of rapid EV charging stations in the country. The tender envisages the deployment of 2,250 MW of batteries at 45 electric substations across the country. The figure given below highlights the revenue share of Rest of Europe in the Europe meter data management system market in the forecast period:

Europe Meter Data Management System Market–Segmentation

Europe Meter Data Management System Market By Offering

· Software

· Services

Europe Meter Data Management System Market By Utility Type

· Gas

· Water

· Electricity

Europe Meter Data Management System Market By Application

· Smart Grid

· Microgrid

· Energy Storage

· EV Charging

· Others

Europe Meter Data Management System Market By End-User

· Residential

· Commercial

· Industrial

Europe Meter Data Management System Market By Country

· Germany

· France

· Italy

· United Kingdom

· Russia

· Rest of Europe

Europe Meter Data Management System Market-Companies Mentioned

· 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

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