The focus on energy savings and sustainability linked to the rapid development of smart technologies is seeing the focus shift – among all smart meter rollouts – to the broader issues of smart grids, and smart meters should be considered in the broader context of the modernisation of electricity networks through the introduction of sensing, communications and information technology into the grid (also known as M2M).
Europe and North America are rated as the most advanced adopters of smart metering technology. Smart meters have the ability to enable more complex time- and usage-based tariffs, which will drive change in customer behaviour and create increased opportunity for differentiation by the utilities. They also set the stage for greater use of discounts and incentives and a wider range of product offerings, including micro-generation and non-energy products. Smart meters are going to play a key role in smart grids as the in-house energy management tools for the users.
This BuddeComm Intelligence Report is designed to provide information on the global smart meter market and incorporate current observations, studies and trends.
Many electricity distribution companies around the world are pushing ahead with smart meter rollouts; Consumers are not as accepting of this technology as the industry would hope; BuddeComm has been arguing since the mid-00s that smart meters are only one element – albeit an important one – in the overall smart grid and IoT concept; Smart metering will account for over 40% of installed M2M devices; Smart water meters will be relied on as a key element of future water systems.