Utilities across the globe have deployed more than 16 million smart electric meters between April and September 2019 according to a new study released by Navigant Research.
The study states that smart electric meters continue to evolve across both technologies and geographies. In developed markets, penetration rates continue to climb while a burgeoning market for second-generation deployments begins to emerge.
Developing economies are finally advancing beyond the nascent stage, with an uptick in project announcements across Eastern Europe, Asia Pacific, Latin America, and the Middle East.
New markets including Russia, Latvia and Lithuania are emerging in Eastern Europe, whilst the Asia Pacific region remains highly fragmented. Countries in Latin America and the Middle East, which previously have been slow to adopt are now exploring smart meters at a national scale.
However, the lack of funding continues to hinder adoption in Africa.
Michael Kelly, a principal analyst with Navigant Research, said: “The North American market saw the greatest number of new project announcements in the last several months, with a notable uptick in public utility deployments.
“Western Europe also remains a hotbed of activity as new players emerge, multiple nationwide rollouts continue, and second-generation upgrades are realized.”
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