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Smart meters drive global AMI and smart grid growth, with North America leading, Europe peaking by 2015, and Asia ramping later, propelled by government incentives, utility mandates, and large-scale deployments through 2020.
Essential Takeaways
Smart meters are advanced electric meters enabling AMI, growing to 250M by 2015, driven by policy and utility mandates.
- North America shipments peak over 15M units in 2012.
- Europe holds about 12% installed base; peaks in 2014-2015.
- Asia growth expected around 2015, with different drivers.
- Over 250M installed by 2015; 18% global meter penetration.
- US $4.5B stimulus; EU 80% by 2020; Canada 100% coverage.
As electricity metering undergoes a significant transformation since the first meter was installed more than 120 year ago, smart-meter shipments are forecast to reach 39.5 million units by 2015, which represents a $3.9 billion global market, according to a report from Pike Research.
Smart-meter shipments in 2012 will peak at over 15 million units in North America, while Europe, an early adopter of smart meters with more than a 12 percent share of the installed base, will experience its own sustained peak in 2014-2015, with a 100-million milestone in 2014 setting the pace, according to the report. Asia, with different drivers, is not expected to see significant growth until about 2015.
The report, Smart Meters, indicates that more than 250 million smart meters will be installed worldwide by 2015, after 212 million by 2014, representing a penetration rate of 18 percent of all electrical meters, up from 46 million in 2008. North America is expected to become the leading market in 2010, reaching 55 percent penetration of all electric meters by 2015, amid a Smart Grid market forecast for 2012 to 2020.
Government incentives are helping to drive the deployment of advanced metering infrastructures (AMI) around the globe. As an example, in North America, $4.5 billion in U.S. government stimulus money is aimed at smart grid investments including smart meters, as debated in smart meters and the smart grid policy discussions, and Canada is working to meet its provincial mandates for 100 percent smart meter coverage, according to the report.
The European Union also has targeted 80 percent smart meter coverage by 2020 as part of its 20-20-20 climate change initiative. Similar mandates in Australia are moving forward, and China and South Korea are beginning their own planning processes, where reducing power theft is a growing objective according to the Pike research.
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