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BOULDER — After five years of numerous U.S. smart-meter deployments backed by federal stimulus money, the frenzy of new smart-meter deployments is over, and the market has entered a steady growth pattern.
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A report released Wednesday by Boulder-based Navigant Research, said the focus of the smart-electric-meter market is shifting to projects in various countries in Europe and Asia Pacific.
According to the report, worldwide smart-meter shipments are expected to grow from 94 million annually in 2014 to 116 million in 2023.
“Growth in the smart-meter market is shifting from the early adopter countries, particularly the United States, to countries that are still in the early stages of major deployments,” said Neil Strother, principal research analyst with Navigant Research, in a prepared statement.
“Now much of the focus is on Europe, where large projects that will account for some 93 million new meters by the end of 2020 are in the works. For example, Great Britain’s widespread rollout of smart meters is set to ramp up next year, and a similar multi-year deployment is expected to start in France.”
Even larger, according to the report, are the planned rollouts in Asia Pacific. Chinese utilities continue to install millions of smart meters as part of a five-year plan to upgrade that country’s grid infrastructure that will result in a total of 300 million smart meters installed by 2015. Major projects in Japan are expected to eventually account for some 80 million smart meters, while anticipated deployments in India should reach 150 million meters between 2017 and 2027.
An executive summary of the report is available for free at http://www.navigantresearch.com/research/smart-meters.