A brand new analysis report from the IoT analyst agency Berg Perception reveals that the penetration of good electrical energy meters in North America reached 80 % in 2023. Total, the put in base of good electrical energy meters will develop at a compound annual progress price of three.8 % throughout 2023–2029, reaching a complete of 182.9 million models by the tip of the forecast interval.
Over the subsequent six years, the penetration of good meters within the US will improve to 94 % whereas within the extra superior Canadian market, it should attain 96 %.
“First-generation good meter shipments will account for an more and more smaller share of annual cargo volumes. Within the subsequent two years, first-generation tasks by utilities akin to AEP, PSEG, Xcel Power, First Power, PPL, Dominion Power, Nationwide Grid, Ameren, Avangrid, Exelon and AES will contribute to annual first-generation good electrical energy meter shipments starting from 5 to 7 million models. In the meantime, second-generation good meter deployments account for a rising share of annual good meter cargo volumes and are forecast to account for greater than 80 % of yearly shipments by the tip of the forecast interval,” stated Mattias Carlsson, IoT Analyst at Berg Perception.
In keeping with the examine, yearly shipments of good electrical energy meters in North America will peak at 18.5 million in 2024 and regularly decline to 14.9 million models by 2029.
Alongside the rise in alternative good meter tasks, the event of good metering expertise within the North American market has not too long ago shifted focus to new calls for past good metering. Utilities at the moment are trying to leverage their current community canopies for a wider array of good metropolis functions.
They’re additionally addressing how you can combine the quickly growing variety of electrical autos and distributed power assets into the grid infrastructure. “The main distributors at the moment are in a race to develop and efficiently market probably the most compelling use instances for second-generation good metering expertise. Along with enhanced computing energy, edge analytics and extra frequent meter reads that provide a brand new vary of advantages and management, utilities are more and more in search of to mix varied functions right into a unified resolution,” concluded Mr. Carlsson.
Learn extra about this new market examine right here.