Perhaps highlighting the likely scenario in future where the various utility applications will be networked thus opening up a significant avenue for revenue generation for the networking and communications industry, a new research from Berg Insight estimates that smart metering technology in the Asia-Pacific region is expected to rise at a CAGR of 9.1% during the period 2009 to 2015. In terms of penetration, smart metering technology will achieve a figure of 25% by 2015 while the installed base is expected to be 116.5 million.
In fact the research says that economically well countries will reach 100% penetration for smart metering technology 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 in particular are rapidly adopting the technology. Australian province, Victoria is all set to achieve 100% penetration for the technology by 2013.