2023 annual global smart meter shipments will reach 116 million

According to a research report by a foreign research organization Navigant Research, in 2014, the global smart meter shipments are expected to reach 94 million; it is expected that by 2023, annual shipments of smart meters will reach 116 million.

The report pointed out that the large-scale deployment and development of smart grids are the main driving factors for the development of smart meters.

Neil Strother, chief researcher at Navigant Research, explained that “the growth of the smart meter market has started from countries such as the United States that adopted the early development of Chi Networks, starting from the large-scale deployment of ChiZ network projects in countries and regions such as Europe and the Asia Pacific region. For example, the smart meter deployment in Great Britain will usher in rapid growth next year; France will also launch a multi-year smart meter deployment plan.” Neil Strother also pointed out that the fastest growing area for smart meters is the Asia-Pacific region. With the release of China's five-year power grid plan, the power infrastructure will be further developed and it is estimated that by 2015, China's smart meter deployment will reach 300 million. In addition, the deployment of smart grid projects in Japan will also usher in the rapid development of smart meters. It is expected that the number of smart meters in Japan will be around 80 million by 2017-2027. Another smart meter in emerging markets in Asia Pacific, India, is expected to reach 150 million by 2027.