Proving the Business Case for the Internet of Things

Global smart meter shipments to peak in 2023: Navigant

Iain Morris
September 9, 2014

Worldwide shipments of smart meters are expected to peak at 116 million units annually in 2023, according to new data from Navigant Research.

The focus of activity is shifting to Europe and the Asia Pacific from North America, where the “frenzy” of smart meter deployments that followed the 2008 financial crash and injection of federal stimulus money into the sector finally appears to be over.

With the US entering a steadier growth pattern, the interest has now turned to countries in Europe and Asia.

Worldwide smart meter shipments are expected to grow from 94 million annually in 2014 to 116 million in 2023, says Navigant.

“Growth in the smart meter market is shifting from the early adopter countries, particularly the United States, to countries that are still in the early stages of major deployments,” said Neil Strother, principal research analyst with Navigant Research. “Now much of the focus is on Europe, where large projects that will account for some 93 million new meters by the end of 2020 are in the works.”

“For example, Great Britain’s widespread rollout of smart meters is set to ramp up next year, and a similar multi-year deployment is expected to start in France,” he added.

More significant than these European rollouts, however, will be the planned deployments in the Asia Pacific.

Chinese utilities are still working on installing millions of smart meters as part of a five-year plan to upgrade grid infrastructure, targeting the rollout of 300 million meters by 2015.

In Japan, meanwhile, major projects are expected to eventually account for around 80 million smart meters, while deployments in India should reach about 150 million meters between 2017 and 2027.
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