Free Newsletter

European smart meter market to see five-fold growth

February 10, 2012 — 8:02am ET | By Barbara Vergetis Lundin

Currently, the only mature smart meter markets in Europe are Sweden and Italy, but new research from Frost & Sullivan finds that the smart meter revenue in Europe is expected to grow from $318.4 million in 2010 to $1.93 billion in 2017 -- a compound annual growth rate (CAGR) of 29.3 per cent. Smart meter installations are expected to grow at a CAGR of 24.2 percent from 2010 to 2017 or from 43.90 million to 200.43 million.

"The smart meter market is expected to prosper, owing to the recent impetus from renewable energy and smart grid implementation," said Frost & Sullivan Research Analyst Neha Vikash, in a statement.

Because the European smart meter market is driven by legislation, standardization is expected to be a primary market driver. Europe is focused on meeting renewable energy targets, as well as energy directive targets of 80 percent smart meter penetration residentially by 2020.

For more:
- see this article