China leads global smart electric meter market through 3Q 2016
Since the release of Navigant Research’s Global AMI Tracker in 2Q 2016, the North American market has seen a handful of new project announcements (Entergy, National Grid, and Pacific Power) and some notable project updates (Ameren Illinois), while markets in Europe and Asia Pacific experience continued uptake.
China remains the leading global smart electric meter market through 3Q 2016, with more than 348 million smart meters installed, accounting for 67.1 percent of tracked global installations.
“The global smart meter market and its underlying technologies have evolved rapidly since the technology’s inception,” says Michael Kelly, research associate with Navigant Research.
“Relatively developed markets include North America, Western Europe, and areas of Asia Pacific, all of which remain strong and growing with significant market opportunities remaining.”
In the coming decade, the second-generation smart meter market (replacements and upgrades) within these highly penetrated regions will begin to present significant revenue stream opportunities for product vendors and systems integrators, according to the report.
Less saturated markets, including Eastern Europe, Latin America, and the Middle East & Africa, still face significant barriers to entry, but large volume project activity is forecasted across all of these areas. ■