Navigant Research, a market research and consulting team that provides detailed analysis on the global clean technology market, announced the advanced metering infrastructure communications technologies market is set for increased growth in the upcoming decade.
The report shows that the market for AMI remains robust, noting specifically that the global penetration of smart meters is expected to climb from approximately 30 percent at the end of 2016 to 53 percent by the end of 2025.
The popularity of smart meters has risen as they’ve become more prevalent as projects in emerging markets, while more developed markets remain active.
Michael Kelly, research associate with Navigant Research, commented:
“The market for smart electric meters is anticipated to remain healthy over the 2016-2025 forecast period, with global revenue attributed to smart meter shipments expected to grow from approximately $8.8 billion in 2016 to over $10.7 billion in 2025. Further growth will be supported by utility- and government-sponsored deployments, along with a growing market for replacement and upgrade units.”
To see the full report, please click here.