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The Second Wave of Rollouts—advances in Technology, Data Analytics and Interpretation—will Change the Role of Metering and Deliver Greater Benefits to Stakeholders in the Value Chain
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The global smart meter market continued to register strong growth in 2018, as major rollouts continued to accelerate, pilot projects became larger projects and the first second-generation smart meter installations occurred. China will remain the most important country market, accounting for approximately 50% of shipments across the forecast period, as the country replaces its first generation of meters on an eight-year cycle. Europe will be the second most important regional market, with France, Netherlands, Norway, and the United Kingdom all making major advances and with Spain completing its rollout. Europe leads the second wave of metering, with Italy and Sweden both starting to replace existing meters, and with Finland and Denmark expected to follow suit in 2022. Network operators and utilities in these countries are demanding higher levels of functionalities from meters in order to be able to offer additional services to customers and enable real-time monitoring of energy consumption. The North American market, a hive of activity in the beginning of the 2010s, has returned to growth with a combination of second-generation metering, smaller utilities rolling out smart metering and a higher replacement rates for the existing base, all likely to drive growth in the future. The Asia-Pacific (APAC) market is currently dominated by the rollout in Japan, but over the forecast period there will be strong growth in South Korea, Taiwan, Indonesia, India, Malaysia, Pakistan and the Philippines. Rounding up the remaining regions, the UAE is the key market in the Middle East, whilst Uzbekistan is challenging Russia as the most important market in the CIS region. The demand in South America remains low, but there is still a long-term potential for recovery. Africa remains focused on pilot projects.Frost & Sullivan’s global smart electricity meter market research provides insights into the latest developments in the market, including forecasts on unit shipments, associated revenue for all major regions and also insights on which country markets are the key to growth.
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