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Asian smart meter market gains momentum

Posted: 17 Dec 2012 ?? ?Print Version ?Bookmark and Share

Keywords:smart meter? utility meter shipment? advanced metering?

According to the latest data from IMS Research, which is now part of IHS, the overall utility billing meter market will approach nearly $13 billion in 2016. In the same period, the market research firm forecasted that revenues for advanced utility meters will match those of their basic, non-communicating counterparts.

IMS Research predicts that 2014 and 2015 will see an especially dramatic jump in both shipments and revenues of advanced metering solutions driven largely by new regulation in the European Union. Asian markets are also beginning to see a significant shift towards communicating utility meters, a trend that is expected to continue in the coming years, noted IMS.

"China, in particular, is expanding utility infrastructure and investing in large-scale advanced metering projects," IMS research analyst Jacob Pereira stated. "As both the most populous country in the world, and the world's largest market for utility meters, it has an outsise effect on the overall market. But that's not to say that other large markets in Asia such as Japan and South Korea are not also moving towards advanced metering. In fact, by 2016, we have calculated that Asian economies will consume twice the number of advanced utility meters as EMEA, the next-largest region."

"Although North American advanced utility meter shipments are slowing down after the boom years of the American Recovery and Reinvestment Act, the rest of the world is moving full-steam ahead. The EU, in particular, is projected to see phenomenal levels of growth, as countries move towards replacing most or all of their basic gas and electricity meters with communicating ones over the coming years," indicated Pereira. "The U.K. alone has about 50 million gas and electricity meters installed, most of which will have to be replaced by 2019. Factor in all the countries that are mandating, or will mandate, advanced meters as part of the EU directives, and growth will be very strong, both in unit and in revenue terms."





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