This report provides Transforma Insights’ view on the Electricity Smart Meter IoT market found in the Transforma Insights Connected Things TAM forecast.
The transition from traditional electricity meters to smart meters is one of the biggest IoT initiatives worldwide. By 2030 there will be 2.2 billion electricity smart meters deployed. This report examines the reasons for the increase in installations, including reducing energy consumption, a desire to reduce electricity thefts, enhancing load balancing capabilities, and growth in use of renewable energy sources. Reducing dependence on nuclear energy and the greater demand for EV charging are likely to increase the use of renewables for energy and further drive the adoption of smart electricity meters. It also provides a detailed assessment of the progress of rollouts and the various communication technologies used across major geographies for these meters. Electricity smart meter rollout is a government-led initiative and with the installation of meters, consumers are provided added benefits such as subsidies on their electricity bill or refunds on using limited electricity during peak hours. Most of these rollouts supported by government regulations focus on providing incentives for deployment.
The report provides a detailed definition of the sector, analysis of market development and profiles of the key vendors in the space. It also provides a summary of the current status of adoption and Transforma Insights’ ten-year forecasts for the market. The forecasts include analysis of the number of IoT connections by geography, the technologies used (including splits by 2G, 3G, 4G, 5G, LPWA, short range, satellite and others), as well as the revenue split between module, value-added connectivity and services. A full set of forecast data, including country-level forecasts, sector break-downs and public/private network splits, is available through the TAM Forecast tool.