• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Editor's Pick 74 percent of all electricity meters in North America are now smart
Editor's Pick

74 percent of all electricity meters in North America are now smart

by December 26, 2022
by December 26, 2022 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

A new research report from the IoT analyst firm Berg Insight reveals that the penetration of smart electricity meters in North America reached 74 percent in 2021.

Overall, the installed base of smart electricity meters will grow at a compound annual growth rate of 4.8 percent during 2021–2027 to reach a total of 173.4 million units at the end of the forecast period. Over the next six years, the penetration of smart meters in the US will increase to reach a level of 93 percent while the respective figure for the more advanced Canadian market will be slightly higher at 94 percent.

Mattias Carlsson, IoT Analyst at Berg Insight, said:

“First-wave deployments will continue to grow in the coming years and will be driven by the launch of major new projects by late adopters in the Northeastern US and Eastern Canada. Meanwhile, second-wave rollouts for early adopters are now also ramping up and will grow their share of annual shipment volumes from around 12 percent in 2021 to around 75 percent by 2027.”

According to the study, yearly shipments of smart electricity meters in North America will grow from 10.7 million units in 2021 to 17.3 million units in 2027. The Covid-19 pandemic had a notable impact on deployments during 2020 with a year-over-year decrease of around 13 percent in annual shipment volumes. The market has since experienced an increase in shipments and the number of yearly shipments is expected to peak in 2024 at 18.4 million units and thereafter slightly decrease to a level of 17 million units until the end of the forecast period.

Alongside the increase in replacement smart meter projects, the development of smart metering technology in the North American market has in the last couple of years shifted focus to serving new demands beyond smart metering. The utilities are now looking to leverage their existing network canopies for a wider array of smart city applications while also trying to figure out how to cope with the integration of the rapidly increasing number of electric vehicles and distributed energy resources into the grid infrastructure.

“The race has begun between the top vendors to develop and successfully commercialize the most attractive use cases for second-wave smart metering technology. Besides increased computing power and edge analytics capabilities that enable a new set of benefits, utilities are more and more looking to integrate multiple smart city applications into a single solution”, concluded Mr. Carlsson.

Download report brochure: Smart Metering in North America

The post 74 percent of all electricity meters in North America are now smart appeared first on IoT Business News.

You Might Also Like
  • Airbnb bans indoor security cameras for properties listed on its platform
  • Social Security cost-of-living adjustment may be 2.7% in 2024, new estimate finds
  • Albertsons sues Kroger after judge rules against grocery merger
  • New inflation data to reveal consumer strength amid highest interest rates in two decades
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Stanford Fails to Master Clear Thinking
next post
3 global macro themes to watch in 2023

You may also like

‘People are stretched’: Average consumer now carries $6,329 in credit...

August 9, 2024

Peacock raising prices by $2 ahead of the Summer Olympics...

April 30, 2024

Volkswagen recalls 261,000 vehicles over fuel tank issue

February 26, 2024

How a U.S. debt default would affect American households

May 5, 2023

Electric vehicle owners face the cold truth as temperatures plummet

January 20, 2024

Fed raises interest rates by a quarter point, keeping inflation...

March 23, 2023

Embraer CEO says jet maker studying possibilities for a new...

October 21, 2024

Tesla settles lawsuit over Autopilot crash that killed Apple engineer

April 12, 2024

Frontier Airlines does away with change fees in budget airline...

May 19, 2024

See how the prices have changed for popular grocery items

August 11, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025
    • U.S. foreign tax bill sends jitters across Wall Street

      May 30, 2025
    • Amazon taps Xbox co-founder to lead new team developing ‘breakthrough’ consumer products

      May 30, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,765 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,472 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,451 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,432 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,308 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,581)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right...

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,581)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Weekly mortgage refinance demand soars 16%...

    August 7, 2024

    Dow rises 200 points to close...

    July 17, 2024

    Tesla’s law firm drafts Delaware bill...

    February 19, 2025
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here