Worldwide installed base of smart meters will grow from 313 million in 2013 to nearly 1.1 billion in 2022, says a new research from Navigant Research.
Smart meter penetration rate continues to climb despite there are debates about the direct operational and societal benefits of smart meters and the broader benefits of smart grids.
“It’s safe to say that the smart meter market has reached its first post-frenzy era – but this is a lull, not a permanent slowdown,” says Neil Strother, senior research analyst with Navigant Research.
However, China is an exception. The national 5-year-plan involves not only new metering but also major upgrades to transmission systems, distribution networks, and generating capabilities, Strother added.
Deployments in North America will begin to recover after 2014, the study concludes, although the pace of new shipments is unlikely to match the levels witnessed in the recent past.
The growth in installed base will come primarily from medium-sized and smaller utilities that will shift to smart meters as they build business cases for upgrading their metering infrastructure, the research said.