Good news for the smart meter market: 100M units per year in 2014
By: SGN Staff
Quick Take: I recently wrote of my contrarian view that the smart grid is poised for another round of growth. Now research firm IHS is out with a very positive prediction for the smart gridâ€™s most troubled sector, smart meters. While agreeing that the North American market has stalled, IHS believes that "the market... isnâ€™t stopping, or even slowing for that matter. Itâ€™s just changing locations." China and Europe are credited for "charging up the market."
Smart meter vendors should buy this report and send it around to Wall Street analysts, who have largely been bearish on the sector. And then they should beef up their efforts in China and Europe.
And then they should hightail it Latin America. Although its smart grid market is lagging, the U.S. Department of Commerce just gave the National Electrical Manufacturers Association (NEMA) an award to promote market access to Latin America for U.S. suppliers. Now's the time to get to the front of the line for this government and trade association assistance. - By Jesse Berst
Smart electricity meters to reach 100 million milestone in 2014
Date: 03 September 2013
Counter to the somber mood that many metering manufacturers have been displaying in recent years, worldwide shipments of communication-enabled meters will grow to more than 100 million units annually in 2014, according to IHS Inc. (NYSE: IHS), a leading source of global insight and information.
Up from an estimated 82 million units in 2013, annual shipments of the meters will pass the hundred-million mark next year and remain there until at least 2017. By then, these units are expected to account for almost $5 billion in revenue for meter manufacturers, reveals the report entitled â€œThe World Market for Smart Electricity Meters â€“ 2013.â€
The projection comes despite a rapidly decreasing North American market given the drying up of government funding, watered-down meter legislation in Latin America and continuing delays to the long-expected smart meter rollouts in the European Union.