Smart meter revenue is expected to rise to $1.93 billion by 2017 , according to Frost & Sullivan’s analysis.
The smart meter installed base in Europe is expected to grow from 43.9 million in 2010 to 200.43 million in 2017 at a CAGR of 24.2 percent. Larger growth is foreseen post-2012, with the publishing of the standardization mandate, which will affect the future development and innovation of smart meters.
There is an inequality across Europe, as the regions face different regulatory challenges which has an impact on implementation.
“The smart meter market is expected to prosper, owing to the recent impetus from renewable energy and smart grid implementation,” says Frost & Sullivan research analyst Neha Vikash. “Smart meters are required for integration of renewable energy. Europe is focussed on meeting the 20-20-20 targets which is a necessary driver for increase in renewable energy and the third energy directive targets 80 percent smart meter penetration in the residential sector by 2020.”
The European smart meter market has currently fewer than 20 vendor companies. The competition is high and expected to increase, with new participants coming into the market.
Frost & Sullivan have said that particularly Chinese and other Asian companies are expected to enter the market in the next 2 years.