Europe to see five-fold growth in smart meter installation

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.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs