Recent research has found that meter data management systems are set for expansion.
Conducted by Pike Research, the study predicted that revenue from meter data management systems and related professional services will increase from $52 million annually this year, to around $490 million a year by 2018.
Professional services are expected to account for 35 per cent of the market, while the meter data management software itself will represent 65 per cent.
Meter data management systems serve as the central point of data collection for utility metering deployments and are a key component of smart grid initiatives.
Commenting, senior analyst Bob Lockhart said: "Meter data management (MDM) systems are at an inflection point.
"Historically, MDM systems collected meter reading data from automated metering systems to create accurate bills with little manual intervention. Now, MDM systems have emerged as a centerpiece of the AMI environment, a key component of the smart grid."