Asian Smart Meter Market to Surpass 350 Million by 2016, Report Says

The number of smart meters in Asian markets will increase from 52.8 million in 2010 to more than 350.3 million by 2016 as governments and electric utilities across the region increasingly emphasize the technology, according to a new market report. That represents an annual growth rate of about 37 percent for the meters, which provide consumers and businesses with real-time information on energy use. According to Pike Research, industry and government leaders across the region view a massive rollout of advanced meters as a critical step in improving smart-grid networks. While China was late to focus on smart meters, the report says it is quickly emerging as the world’s largest market and that by 2016 will represent about three-quarters of all installed smart meters in the Asia Pacific region.