LONDON, Feb. 21, 2017 /PRNewswire/ -- Regulation-fuelled rollouts of smart electricity meters are driven by the potential to reduce non-technical losses for electricity utilities, improve billing accuracy, and effectively integrate renewable energy with smart meters. With these rollouts, Europe, the Middle East and Africa (EMEA) are emerging as key regional smart electricity meter markets ahead of North America, while Asia-Pacific will become the second-largest market in the next 10 years.
"In a highly competitive and commoditised market with little product innovation, leading players such as Landis+Gyr, Itron, Wasion and Hexing are pursuing price differentiation strategies and offering a complete technology solution," said Energy & Environment Research Director Malavika Tohani. "Price competition will continue to intensify, particularly as Chinese meter manufacturers start aggressively targeting the international market once their domestic rollout is completed in 2018."
Global Smart Electricity Meters Market, part of Frost & Sullivan's Power Generation Growth Partnership Service (GPS) program, finds that the total smart meter market hit a record 115 million units in 2015, driven mainly by an acceleration of the rollout in China. This will stabilise at an average of 85 million unit installations per year up to 2025.
Click on the following link for complimentary access to more information on this analysis and to register for a Growth Strategy Dialogue, a free interactive briefing with Frost & Sullivan's thought leaders: https://goo.gl/1T3gJk
Several regional trends are encouraging growth:
"Smart metering as a service will increase as meter manufacturers look for ways to attract investment from utilities that lack the financial resources to implement a capex-led rollout," noted Tohani.
Other recent topics covered under the Power Generation GPS include Evolution of the European Meter Data Management Market, Global Smart Gas Meters Market 2016, A snapshot of the Brazilian Smart Metering Market, Electricity Meters Market in Southeast Asia, among others. All studies in the subscription provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community.
Contact:
Anna Zanchi
Corporate Communications – Europe
P: +39.02.4851 6133
E: anna.zanchi@frost.com
http://ww2.frost.com