Europe Smart Metering Market 2017- Research Report
Global smart meters market was estimated at 59.6 million units in 2015. Government initiatives for increasing the number of installations for smart meters on account of its energy conservation functionality will play a vital role in the growth of the product.
This report provides a basic overview for understanding how the electric utility industry seeks to ensure the appropriate level of accuracy, safety, and security. It also makes evident that before being accepted and deployed Smart Meters must meet a number of national standards and comply with state and local codes designed to ensure proper operation, functionality and safety.
Growing consumer awareness about energy consumption is also likely to propel the demand over the forecast period. Smart meters allow for easy monitoring and managing the consumption of electricity by consumers on a daily basis routine.
Rising demand for smart meters among energy suppliers is expected to boost the market growth to resolve power outages, hardware faults and to enhance promptness in delivery customer service.
Global demand is expected to reach 165.5 million units generating revenues worth USD 22.18 billion by 2022. Smart meters are an effective technology to control rising level of radioactive emissions in the eco-system, and thus, various environment protection policies are initiated to favor smart meters installation over the next few years.
According to the Smart Meters Industry Group, the reconfiguration of the European electricity grid into a “smart grid” may help the EU meet the 20-20-20 targets.“Smart metering combined with direct consumer feedback has been shown to increase energy efficiency by 5-15%, and in some cases up to 20%.” Within this context the conference, which is taking place in the framework of the Sustainable Energy Week, will focus on the status of implementation of smart metering in Europe.
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