Europe to see five-fold growth in smart meter installation
New analysis from Frost & Sullivan, European Smart Meter Markets, finds that the smart meter revenue in Europe is expected to grow from $318.4 million in 2010 to $1.93 billion in 2017 at a compound annual growth rate of 29.3 percent
London, March 5, 2012 — The European smart meter market is at a growing stage. While smart meter developments are taking place in countries like Denmark, Finland and Norway, large-scale rollout has been planned in countries such as U.K., France, Spain and Portugal to meet the energy targets and environmental policies set by the E.U. Currently Sweden and Italy are the only mature markets in Europe.
New analysis from Frost & Sullivan, European Smart Meter Markets, finds that the smart meter revenue in Europe is expected to grow from $318.4 million in 2010 to $1.93 billion in 2017 at a compound annual growth rate of 29.3 percent.
The smart meter installed base in Europe is expected to grow from 43.90 million in 2010 to 200.43 million in 2017 at a CAGR of 24.2 percent. The market foresees larger growth post 2012 with the publishing of the standardization mandate. Standardization will affect the future development and innovation of smart meters.
Europe is a push market where the smart meter and smart grid markets are legislation driven. There is region-wise disparity due to the different regulatory challenges faced by each country, thus having a direct impact on implementation.
Currently, the European smart meter market has less than 20 vendor companies. The competition among manufacturers, utilities, ICT, network, remote monitoring and automation companies is high and it is forecast to increase along with new participants entering the market. In particular, Chinese and other Asian companies will start to make their appearance in this market during the next 1-2 years.