Along with the U.S. and Europe, Mexico is gearing up with a heavy investment into the smart grid. Research Company Northeast Group announced in October that Mexico's smart meter market will grow to $8.3 billion and deploy more than 21 million smart meters by 2020. According to Northeast Group, Mexico's potential for smart meter growth is second only to Brazil in the Latin American market.
The 67-page report released in October cited U.S. smart meter growth as a primary driver of the positive Mexican projections, noting that, "Mexico is...uniquely situated to benefit from positive spillovers from the U.S. market. These include smart grid standards, U.S. vendors looking for new markets and a transfer of smart grid technical know-how." The report also highlighted that Mexico plans to invest approximately $3.2 billion in distribution automation technologies.