Berg Insight Says Smart Meter Penetration In Asia-Pacific Will Reach 25 Percent By 2015
According to a new research report from the analyst firm Berg Insight, the installed base of smart electricity meters in Asia-Pacific will grow at a compound annual growth rate of 91.0 percent between 2009 and 2015 to reach 116.5 million at the end of the period. Penetration for smart metering technology is projected to soar from very low levels to 25.0 percent by the end of the period. By the mid-2010s, the majority of all electricity meters shipped in the region is expected to have advanced functionalities and networking capabilities. Berg Insight anticipates that the leading economies in the region will have close to 100 percent penetration by 2020.
"Asia-Pacific is the fastest growing market for smart metering solutions in the world", said Tobias Ryberg, Senior Analyst, Berg Insight. "South Korea has begun the construction of a nationwide smart grid where intelligent energy meters constitute the basic building-block. Japan's two largest power utilities have announced plans for full-scale smart meter deployments in this decade and China is preparing a nationwide rollout within three to five years." Altogether the three countries have an installed base of more than 360 million electricity meters today, with an annual growth rate of 3–5 percent.
Australia and New Zealand commenced with massive installations of smart meters at the end of the last decade. Victoria will become the first Australian state to achieve full penetration by 2013. Mandatory rollouts are also being considered in other territories such as New South Wales. In New Zealand, the adoption of smart metering is driven by the energy industry. While many other countries have introduced regulations for the new technology, New Zealand's government has decided not to interfere with the process.
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SOURCE: Berg Insight