Navigant Research has released a new report analysing the state of the global utility electric smart meter market, tracking data related to customer endpoints, meter manufacturers, advanced metering infrastructure (AMI), communications vendors, systems integrators, and meter data management (MDM) vendors.
According to the report, with upwards of 469 million smart meters at the end of 3Q 2017, China continues to lead the market, accounting for 68.7% of tracked global installations.
China's shipment of smart electric meters hit 130 million units in 2016 with a compound annual growth rate (CAGR) of 7.1% between 2011 and 2016.
China has however, lowered the real estate growth goal for the 2016-2020 period. This will lower the number of meters required for new building initiatives. Therefore, it is estimated that the shipment CAGR in 2017-2021 will be between 3%-5%.
China's smart energy industry will be showcased at China Utility Week in Shanghai, 18-19 April 2018.
The market remains strong as developed regions mature through new deployments and second-generation upgrades.
Increasing numbers of late adopters are entering the market as project costs decrease and success stories become the norm, accounting for a large portion of market growth.
Michael Kelly, research analyst with Navigant Research, said: “A higher frequency of replacement and upgrade projects is expected, and is already beginning to play out in parts of North America, Italy, and Sweden. These second-generation projects are likely to affect vendor share and communications share selection analyses, with power line communications already demonstrating a notable decline.”
Emerging Markets & AMEA
Developing markets show growth potential with pilot commercial-scale projects in the pipeline.
In regions, such as Asia Pacific, Latin America, and the Middle East, the market remains fragmented or underdeveloped thanks to deployments in major countries and limited to no activity in others, according to the report.
In Africa, the region continues to be inhibited by economic constraints, though more high-level activity is emerging from countries like Egypt, Nigeria, and South Africa.
An Executive Summary of the report is available for free download.