Smart metering is a combination of metering devices, software, and connectivity solutions. The services associated with it, such as professional and managed services are termed as metering services. Metering services play a crucial role in available and future resource management. Majorly two types of meters are available in the current market which includes traditional and smart meter. Compared to traditional metering services, smart metering services are creating significant demand traction across end-use industries. A smart metering system requires advanced meter infrastructure (AMI). AMI makes smart metering different from the traditional automatic meter reading (AMR). Governments, water & sewage utilities, electricity manufacturers & distributors, and original equipment manufacturers (OEMs) are gradually discovering the application of metering. Metering helps in lowering operating costs, eliminating leaks and inefficiencies, and improving water conservation. Metering provides accurate records and information for defined time periods. Metering utilities help to dynamically monitor and price resource consumption, are useful for load forecasting, offer faster power restoration, improved billing accuracy, and meet CO2 reduction demands. Metering services allows users to accurately measure energy consumption. Smart metering is anticipated to reduce domestic energy consumption across the world. Metering services are penetrating the end-use markets due to such advantages. A growing competitive atmosphere is anticipated to lead to remarkable growth of the metering as a service market globally.

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Utility, transportation and public safety industry transformation, is driving the global metering as a services market. However, lack of complete information security assurance and misuse of collected data are factors obstructing the market growth in international and domestic markets. Further, security and reliability concerns such as cyber-attacks are expected to slow down the adoption of metering services, thus reducing the CAGR growth of the market globally. However, aging infrastructure across industries is expected to create lucrative opportunity for the market during the forecast period 2018 – 2026.

The metering services as a market can be classified in terms of application, services, connectivity, and end-use industry. The application segment can be further classified as retail metering services, settlement verification and audits, meter system maintenance and repairs, meter data management, design, procurement, assembly, site-installation and commissioning, and others. Based on services, the market can be categorized into professional and managed services. By connectivity, the market can be segmented as IoT and wide area network (WAN). Moreover, based on industry, the global metering services market can be classified into utilities, transport, and public safety.

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