Smart energy: A market picking up momentum
The strong impetus for smart metering remains regulation as it has from the very beginning. Various countries have thus put in place targets for the nationwide deployment of smart meters, although the approach differs from country to country. The utility incumbents are also crucial for the development of smart metering, particularly with the choice of technologies and the approach of implementation.
Although some delays have been observed in a number of deployments, the overal targets are expected to be met as planned. The global installation of smart meters will grow at a stable pace, up from roughly 550 million in 2014 to a total of more than 1.6 billion – across electricity, gas and water – in 2020, at a CAGR of 19.6%. The electricity sector is identified as the core industy for deployment.
As the energy domain is transforming itself to adapt to new challenges such as renewables, electric vehicles and decentralisation, the evolution of smart metering will be seen in various use cases with smart grids. Smart grids, the energy networks that coordinate supply and demand, imply new possibilities both in terms of technical capacities and business offerings, including real-time reconfiguration of the topology of the energy network and alternate pricing mechanisms.