The global electricity/smart meter market will be a hot one as governments mount initiatives aimed at implementing the technology. Demand will surpass 148 million units during the next four years. During the period from 2012 to 2018, the market is projected to expand at a compound annual growth rate (CAGR) of 18.7 percent when computed in terms of units. In revenues, the market will move from $4 billion in 2011 to $19.8 billion in 2018. The 2012-2018 CAGR will be 16.5 percent for that period. Part of the strength of the market is that smart meters can be used in both micro- and macro-level applications in a wide variety of vertical industries and for a variety of purposes.
The projected increases in smart meters is nothing new. As of about a year ago, more than 50 million were deployed in the United States. They covered about 43 percent of homes, according to The Edison Foundation for Electric Innovation. The most were owned by Pacific Gas & Electric, which at that point had deployed 5.14 million.