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Back You are here: Home Low-Carbon Smart Grid U.S. smart meter market worth $4.4 billion in 2016 – research

Smart Grid

U.S. smart meter market worth $4.4 billion in 2016 – research

Smart meter product and service demand in the United States may go up more than 11 percent annually to $4.4 billion in 2016, according to a report from business research firm Freedonia.

The rising share of smart meters in use over the decade supports demand for related parts and services as well as for replacement of older models, the Cleveland, Ohio-based research company says in its latest report.

In 2011, there were approximately 325 million electric, gas and water meters installed in the U.S. Of these, more than 145 million – or 45 percent – are classified as having "smart" capabilities.

Through 2016, the penetration rate for smart meters is expected to continue to increase rapidly, rising to 63 percent of all meters installed.

After 2016, this rate is expected to continue to increase at a healthy, though slower, pace. Meanwhile, several segments of the market are expected to begin to mature.

Still the penetration rate for smart meters will continue to rise, and by 2021 there will be approximately 285 million smart meters in use, representing more than 75 percent of all meters installed.

The highest penetration rate is expected in electric meters, with smart meters representing more than 90 percent of all meters in use by 2021.

The penetration rates between the different segments of the market are expected to rise at different paces, with the electric market seeing the fastest increase, rising 8 percent annually to 75 percent of all electric meters installed by 2016.

While not rising as fast as the electric market, demand in both the natural gas and water segments will also increase, approaching 10 percent annually in each.– EcoSeed Staff



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