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The Installed Base of Smart Meters Will Surpass 1 Billion by 2022, Forecasts Navigant ResearchBOULDER, Colo. --(Business Wire)-- Growth in the smart electric meter market has cooled during the last year, even though strong market drivers remain in place on which utilities can build a business case. Although the direct operational and societal benefits of smart meters and the broader benefits of smart grids that are enabled by smart meters continue to be debated among policymakers, utilities, regulators, and consumers, penetration rates continue to climb, reaching nearly 39 percent in North America in 2012. Click to tweet: According to a recent report from Navigant Research, the worldwide installed base of smart meters will grow from 313 million in 2013 to nearly 1.1 billion in 2022. "It's safe to say that the smart meter market has reached its first post-frenzy era - but this is a lull, not a permanent slowdown," says Neil Strother, senior research analyst with Navigant Research. "The one major exception is China, where the national 5-year plan involves not only new metering but also major upgrades to transmission systems, distribution networks, and generating capabilities." Deployments in North America will begin to recover after 2014, the study concludes, although the pace of new shipments is unlikely to match the levels witnessed in the recent past. The growth in installed base will come primarily from medium-sized and smaller utilities that will shift to smart meters as they buid business cases for upgrading their metering infrastructure. The report, "Smart Meters", examines the global market opportunity for smart electric meters, analyzing the drivers, market challenges, and technology issues that will shape the market over the coming decade. The report provides market forecasts through 2022 for smart electric meter shipments, penetration rates, and revenue, segmented by region. Key vendor profiles are also included. An Executive Summary of the report is available for free download on the Navigant Research website. About Navigant Research Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, Smart Industry, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com. About Navigant Navigant is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com. * The information contained in this press release concerning the report, "Smart Meters," is a summary and reflects Navigant Research's current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
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