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. This report is designed to provide an overview of the smart meter market and incorporate current observations which may assist investors, analysts and industry participants in making investment and business decisions.