The M2M/IoT analyst firm states that annual shipments of smart electricity meters in Europe will more than double in the next two years.
According to a release, the market accelerated in 2016 and sales are expected to reach 13.5 million units during the year.
In 2018, annual demand is forecasted to reach an unprecedented level of 27.6 million units. The peak of annual shipments in the range of 25 to 30 million units per year will be sustained until the end of the decade.
[quote] Tobias Ryberg, senior analyst, Berg Insight and author of the report, said: “The European smart meter market benefits from two concurrent positive developments at the same time. Firstly, the long-anticipated mass-rollouts in France and the UK are finally getting underway. Secondly, Enel is on the verge of launching the second wave of smart meter deployments in Italy as the first generation devices reach the end of their technical lifespan of 12-15 years.”
The report, titled Smart Metering in Europe, identifies Austria, Ireland, the Netherlands, Norway, Romania and Spain as other ‘hotspots’ for smart meters in the coming years.
The outlook for Germany remains negative in the short term. Even as the country recently adopted a new regulatory framework for the introduction of smart meters, large-scale deployments are still some years away.
Unlike most other countries in Western Europe, Germany will only make smart meters mandatory for around 10% of the electricity customers before 2028.
Norway smart meters
In related news, Norwegian power utility Agder Energi A secured funding from the Nordic Investment Bank (NIB) to implement smart meters project.
The utility company will use the EUR50 million (NOK 465 million) loan to deploy smart meters in Aust-Agdre and Vest-Agder cities.
The new metering system will also help the power company improve its grid network management and help customers track their energy consumption and lower bills, reported The Financial. [Norway’s Troms Kraft Nett boosts meter data management]
The loan falls under a national programme set by the Norwegian regulatory authorities for utilities to adopt the smart meters system. The deployment of the 200,000 smart meters is expected to last through to January, 2019.
“The smart meter technology makes households more aware of their electricity usage and that will likely lead to new consumer patterns and increased energy efficiency”, said Henrik Normann, NIB president and CEO.