The installed base of smart electricity meters in North America will grow at a compound annual growth rate of 8.0 percent between 2018 and 2024 to reach 142.8 million at the end of the period, according to a new study.
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Jul 19, 2019 • News • future of field service • Berg Insight • smart meters
The installed base of smart electricity meters in North America will grow at a compound annual growth rate of 8.0 percent between 2018 and 2024 to reach 142.8 million at the end of the period, according to a new study.
A research report from the IoT analyst firm Berg Insight also says smart meter penetration among electricity customers in the UK and Canada Over is projected to increase from around 60 percent in 2018 to more than 80 percent by the end of 2024.
“North America has long been at the forefront of smart grid technology adoption and a large share of the major utilities in the region are now either fully deployed or in the implementation or planning stages of full-scale rollouts. The market is however highly heterogenous in terms of penetration. Some states or provinces remain skeptical towards the business case for advanced metering investments whereas others are soon to begin a second wave of deployments”, said Levi Ostling, IoT Analyst, Berg Insight and author of the report.
Canada has reached a high penetration of smart meters through ambitious initiatives in its most populous provinces. Continued growth in North America the next few years will largely be driven by the large investor-owned utilities in the US that are yet to roll out smart meters for their customers. In addition, the large number of smaller cooperative and municipal utilities will also be playing an increasingly central role for penetration growth.
According to the report, yearly shipments of smart electricity meters in North America will grow from 8.8 million units in 2018 to 19.9 million units in 2024. Over the next few years, first-wave deployments by utilities such as Consolidated Edison, Duke Energy, Ameren, Entergy, PSEG, National Grid and Xcel Energy will boost shipments. Second wave deployments will gradually make their way into the shipment numbers at the end of the forecast period. “While increasingly powerful meters with edge intelligence capabilities coupled with advanced data analytics software will drive second wave deployments, the utilities are now also looking to leverage their existing RF mesh networks for a wider array of applications beyond metering, bringing an increasingly diverse set of devices onto their networking platforms,” concluded Mr. Ostling.
A research report from the IoT analyst firm Berg Insight also says smart meter penetration among electricity customers in the UK and Canada Over is projected to increase from around 60 percent in 2018 to more than 80 percent by the end of 2024.
“North America has long been at the forefront of smart grid technology adoption and a large share of the major utilities in the region are now either fully deployed or in the implementation or planning stages of full-scale rollouts. The market is however highly heterogenous in terms of penetration. Some states or provinces remain skeptical towards the business case for advanced metering investments whereas others are soon to begin a second wave of deployments”, said Levi Ostling, IoT Analyst, Berg Insight and author of the report.
Canada has reached a high penetration of smart meters through ambitious initiatives in its most populous provinces. Continued growth in North America the next few years will largely be driven by the large investor-owned utilities in the US that are yet to roll out smart meters for their customers. In addition, the large number of smaller cooperative and municipal utilities will also be playing an increasingly central role for penetration growth.
According to the report, yearly shipments of smart electricity meters in North America will grow from 8.8 million units in 2018 to 19.9 million units in 2024. Over the next few years, first-wave deployments by utilities such as Consolidated Edison, Duke Energy, Ameren, Entergy, PSEG, National Grid and Xcel Energy will boost shipments. Second wave deployments will gradually make their way into the shipment numbers at the end of the forecast period. “While increasingly powerful meters with edge intelligence capabilities coupled with advanced data analytics software will drive second wave deployments, the utilities are now also looking to leverage their existing RF mesh networks for a wider array of applications beyond metering, bringing an increasingly diverse set of devices onto their networking platforms,” concluded Mr. Ostling.
Jul 13, 2015 • News • Connected cars • M2M • Research • big data • smart meters • telematics
Technology analysts Juniper Research are forecasting that in revenue terms the telematics sector will continue to outperform all other M2M markets over the next five years, with one in five passenger vehicles connected globally by 2019. Connected...
Technology analysts Juniper Research are forecasting that in revenue terms the telematics sector will continue to outperform all other M2M markets over the next five years, with one in five passenger vehicles connected globally by 2019. Connected cars will represent 20% of the global car market by 2019, the company predicts.
Smartphone-based models have become the key disruptor for M2M, as sectors such as healthcare, consumer electronics and retail continue to evolve. Juniper Research forecasts that the M2M sector will generate service revenues of over $40 billion globally by 2019 - doubling the size of today’s market.
Smart metering to see global growth
The new research, M2M & Embedded Devices: Strategic Analysis & Vertical Market Forecasts 2015-2019, observed that the roll-out of smart metering initiatives will see rapid up-take over the next six years, driven in part by governments’ ambitions to increase efficiency.
The utility sector, however, is not expected to generate similar revenues to that of the connected automotive sector.
The utility sector however is not expected to generate similar revenues to that of the connected automotive sector.
Mergers, acquisitions, new applications
Agriculture and environmental applications are starting to emerge as important new sectors in the M2M market, with applications as diverse as wild-life and farm animal monitoring, and increasing productivity through precise field mapping. Some of the industry’s most powerful players are coming together, such as the merger of KORE Telematics and Raco Wireless, and the acquisition by Huawei of the M2M technology start-up Neul.
Other key findings include:
- The US remains the leading geographical region for M2M, ahead of Western Europe. China is becoming increasingly important as initiatives by the country’s major carriers begin to take shape.
- Implementation of Big Data analytics will play an increasingly important role, particularly in areas such as telematics, smart metering and healthcare.
Key questions, says Juniper are:
- Which market verticals hold the greatest promise in terms of service and connectivity enablement revenues?
- What are the prospects for cellular-based M2M modules?
- How are smartphones and Big Data playing a role in the M2M universe, and how will these devices and technologies affect the M2M market moving forward?
- How is the API landscape developing and what role does it play?
- How will the IoT and the M2M universe interrelate with one another?
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