Irving, Texas (PRWEB) August 13, 2012
With increased deployment by the electric utilities, smart meters are rapidly being adopted around the world as part of larger smart grid initiatives.The global smart meter market, which experienced double digit growth during 2006-2011, is projected to grow further in 2012 with a CAGR of 12% through 2017 and US $8.2 billion.
Lucintel, a leading global management consulting and market research firm, has conducted a competitive analysis of the global smart meter market and presents its findings in "Growth Opportunities in Global Smart Meters Market 2012–2017: Trends, Forecast, and Market Share Analysis."
Lucintel’s research indicates thatreal time information sharing regarding usage and tariff rates is one of the major drivers of this market. Also, the increased costs in manual reading of meter data, as in case of analog and digital meters, have led to the growth of AMR and AMI.Yet the lack of a compatible, reliable, and flexible protocol development for interaction among different components across this system and lack of customer knowledge regarding use of smart meters remain challenges in this market.
Factors affecting the market include technological advances, development of smart meters, and increasing prices of electricity generation along with increases in demand conditions, government incentives to promote green energy, and development of transmission facilities to provide energy to remote areas. The North America, APAC, and ROW markets are expected to show double digit growth in the forecast period.
This report gives useful technical details and market information for both smart meter manufacturers and electrical utilities. The report, which provides trend scenarios and forecast statistics for 2012–2017, details drivers and challenges, industry background and characteristics, and makes an elaborate analysis of the global smart meters market, while also describing growth opportunities, emerging trends, and leading manufacturers' profiles in the global smart meters market.
This research study is designed and intended for use by manufacturers, material suppliers, parts fabricators, OEMs, investors, executives, and consultants focused on the utility industry.
For a detailed table of contents and pricing information on this timely, insightful report, contact Lucintel at +1-972-636-5056 or via email at helpdesk(at)lucintel(dot)com. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight, and cost efficiency.