Smart Meters Market Is Predicted To Grow Quickly Due To The Increased Emphasis On Energy Conservation Till 2020: Grand View Research, Inc.
Global smart meters market was estimated at 59.6 million units in 2012. Government initiatives for increasing the number of installations for smart meters on account of its energy conservation functionality will play a vital role in the growth of the product. Growing consumer awareness about energy consumption is also likely to propel the demand over the forecast period. Smart meters allow for easy monitoring and managing the consumption of electricity by consumers on a daily basis routine. Rising demand for smart meters among energy suppliers is expected to boost the market growth to resolve power outages, hardware faults and to enhance promptness in delivery customer service. Global demand is expected to reach 165.5 million units generating revenues worth USD 22.18 billion by 2020. Smart meters are an effective technology to control rising level of radioactive emissions in the eco-system, and thus, various environment protection policies are initiated to fa...