The need for grid modernization and positive steps taken by utilities across the world to replace conventional electronic meters with improved smart meters capable of providing improved meter reading and data collection are the most important factors facilitating growth in the global advanced metering infrastructure (AMI) market . Furthermore, launch of dynamic pricing schemes and demand response programs are considered as motivational factors for the use of smart meters. Demand response programs are considered as enablers of growth in the global AMI market. AMI is the integration of hardware, software, and technologies that provide an intelligent connection between consumers. Consumers by participating in demand response programs will benefit from lower electricity bills, while electric distribution utilities will be able to avoid investments in expensive new capacity buildings and benefits from a stable load on a utility grid. Through bi-directional communicati...