The Meter Data Management (MDM) market is growing at a faster pace than other applications thanks to the deployment of smart metering.
That’s the low down from IDC’s Energy Insights, which also forecasts the EMEA market to have a 26.5 percent Compound Annual Growth Rate (CAGR), growing from $173 million in 2010 to $349 million by 2013.
MDM is an application for processing metering data collected from various customer services. It works by cleaning and managing data to establish a “system of record” of meter data, which can then be used in a variety of ways. This includes billing and analysis.
IDC claims that the sector is still “fairly immature” however, it’s already starting to make waves and worming its way into the mass market. As a result it allows users not only to collect periodical measurements, but according to IDC also for the “execution and management of events”.
IDC adds that the amount of data to be collected and handled by these systems is also changing, moving to daily, hourly, or even 15-minute interval measurements, which means that there can be 2,920 records per month per customer instead of just one.
It’s big business, with the analyst outfit claiming that although the average value of contracts is dependent on the size of the utility and the number of meters to be managed, prices can range from a few “hundred thousand dollars” to many millions of dollars for the largest implementations.
So it’s therefore no wonder companies are jostling to get in on the act. Due to the intrinsic nature of the EMEA MDM market, no vendor has been recognised as a market leader yet. Vendors evaluated in the study include Oracle, eMeter, EnergyICT, Ferranti Computer Systems, HP, Itron and Landis+Gyr. IDC was not able to disclose specifics.
For MDM to succeed, says IDC, “implementation needs to be evaluated in the context of each company’s IT enterprise architecture.”
To ensure operations run smoothly, utilities must leverage their need to invest in or modify existing MDM services to reconsider entire master data management and to support the short- and long-term needs of business processes to reduce duplication and interfaces.