Northeast Group predicts that some 269 million smart meters will be deployed within 50 emerging markets by 2023.
The research firm forecast up to $27.8 billion in investments will be directed towards advanced metering infrastructure in the emerging markets between 2019 and 2023.
A further $33.1 billion will be invested in additional smart grid infrastructure including distribution automation and battery storage, during the forecast period.
Half of the emerging countries investigated in the report have already started large-scale rollout of advanced metering infrastructure projects.
Other key findings of the report include:
- At the start of 2019, there were 54.7 million smart meters installed across the 50 countries
- The total base of installed units will reach 323.6 million over the next five years
- The majority of instalments will be in China and India
- Excluding China and India, the remaining economies are expected to deploy 109 million units by 2023
- There is a growing frequency of vendor and third-party financing within the market
- Chinese vendors are moving into new markets
- Supply chain shortages could hinder growth
- Continued decline of per-endpoint costs across all markets
Steve Chakerian, senior research analyst at Northeast Group, said: “Emerging markets are building on growth from recent years.
"Large-scale rollouts are now underway in Malaysia and Mexico, major tenders are expected in Egypt and Saudi Arabia, and deployments have been steady in Central & Eastern Europe, among other regions.”
The study explores market trends in Latin America, the Middle East, Africa, Central & Eastern Europe, South Asia and Southeast Asia.
For more information about the report, visit www.northeast-group.com