The Smart Electricity Meter Penetration Rate in North America Reached 77 Percent at the End of 2022
Are you looking for detailed information and comprehensive data about the North American smart metering market? The study concludes that the installed base of smart electricity meters in North America will grow at a compound annual growth rate (CAGR) of 4.8 percent throughout the forecast period, from 130.6 million in 2021 to 173.4 million in 2027. Get up to date with the latest information about vendors, products and local developments in each country.
Highlights from the report
- In-depth market profiles of the US and Canada.
- 360-degree overview of next-generation PLC, RF and cellular technologies for smart grid communications.
- Profiles of the key players in the smart metering industry in North America.
- New forecasts for smart electricity meters until 2027.
- Analysis of the latest market and industry developments in the US and Canada.
- Case studies of smart metering projects by the leading energy groups.
74 percent of all electricity meters in North America are now smart
This report reveals that the penetration of smart electricity meters in North America reached 74 percent in 2021. Overall, the installed base of smart electricity meters will grow at a compound annual growth rate of 4.8 percent during 2021-2027 to reach a total of 173.4 million units at the end of the forecast period. Over the next six years, the penetration of smart meters in the US will increase to reach a level of 93 percent while the respective figure for the more advanced Canadian market will be slightly higher at 94 percent.
“First-wave deployments will continue to grow in the coming years and will be driven by the launch of major new projects by late adopters in the Northeastern US and Eastern Canada. Meanwhile, second-wave rollouts for early adopters are now also ramping up and will grow their share of annual shipment volumes from around 12 percent in 2021 to around 75 percent by 2027”, said Mattias Carlsson, IoT Analyst. According to the study, yearly shipments of smart electricity meters in North America will grow from 10.7 million units in 2021 to 17.3 million units in 2027. The Covid-19 pandemic had a notable impact on deployments during 2020 with a year-over-year decrease of around 13 percent in annual shipment volumes. The market has since experienced an increase in shipments and the number of yearly shipments is expected to peak in 2024 at 18.4 million units and thereafter slightly decrease to a level of 17 million units until the end of the forecast period.
Alongside the increase in replacement smart meter projects, the development of smart metering technology in the North American market has in the last couple of years shifted focus to serving new demands beyond smart metering. The utilities are now looking to leverage their existing network canopies for a wider array of smart city applications while also trying to figure out how to cope with the integration of the rapidly increasing number of electric vehicles and distributed energy resources into the grid infrastructure. “The race has begun between the top vendors to develop and successfully commercialize the most attractive use cases for second-wave smart metering technology. Besides increased computing power and edge analytics capabilities that enable a new set of benefits, utilities are more and more looking to integrate multiple smart city applications into a single solution”, concluded Mr. Carlsson.
Questions answered in the Report
- How are energy policies driving the adoption of smart metering in the US and Canada?
- What is the current deployment status of major utilities across North America?
- Which utilities are leading the adoption of smart metering in North America?
- Which communications technologies are being used for smart metering in North America?
- Which are the leading smart metering solution providers in North America?
- What is the outlook for second-generation smart metering rollouts in North America?
- Which are the main electricity and gas utilities in the US and Canada?
Who should read this report?
Smart Metering in North America is the foremost source of information about the ongoing transformation of the metering sector. Whether you are a solution vendor, utility, telecom operator, investor, consultant or government agency, you will gain valuable insights from our in-depth research.
Table of Contents
Executive summary
Samples
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Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Accenture
- Aclara (Hubbell)
- Ameren
- BC Hydro
- Capgemini
- Cisco
- Consolidated Edison
- Eaton
- Entergy
- Greenbird Integration Technology
- Hansen Technologies
- Harris Utilities
- Honeywell
- Hydro-Québec
- IBM
- IPKeys Power Partners
- Itron
- Landis+Gyr
- Networked Energy Services
- Nighthawk
- Oracle
- OSIsoft
- SAP
- Sensus (Xylem)
- Siemens
- Tantalus Systems
- Trilliant
- Verizon
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 135 |
Published | December 2022 |
Forecast Period | 2021 - 2027 |
Estimated Market Value in 2021 | 130.6 Million Units |
Forecasted Market Value by 2027 | 173.4 Million Units |
Compound Annual Growth Rate | 4.8% |
Regions Covered | North America |