Navigant: Worldwide smart meter revenue projected to grow to $6.6B annually by 2023

By: InnovatioNews Friday November 28, 2014 0 comments Tags: Boulder, Navigant Research, Neil Strother, smart meters

 

Navigant Research logo newBOULDER - Worldwide revenue from smart meters is expected to grow from $5.1 billion this year to $6.6 billion annually in 2023, according to a new report from Navigant Research.

While deployments in North America are slowing, the report notes that business activity is increasing in Western Europe and in Asia Pacific, particularly China and Japan.

"The benefits of smart meters have come more sharply into focus as the market has matured," said Neil Strother, Navigant principal research analyst. "Utilities are gaining improved operations and reliability, along with reduced labor costs, while customers are becoming more engaged and in control of their energy use."

Even in North America - where federal stimulus funds are nearly exhausted - steady growth in smart meter deployments is expected, the report said.

Utilities that have yet to make the shift to smart meters are more likely to do so in an improving economy, the report notes.

An executive summary of the report, "Smart Meters," is available for free download on the Navigant website.
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