AMR: Smart Meter Industry To Grow 85 Per Cent In Seven Years
Value of global business will reach $39bn by 2027
A new report from US-based analysts Allied Market Research predicts that the value of the global smart meter industry will nearly double over the next seven years. The industry, which was valued at US$21bn in 2019, will reach $39bn by 2027, sustaining an annual growth rate of nearly 9 per cent.
Although the Asia Pacific region will remain dominant throughout that period, the North American market is also expected to grow rapidly. While industrial installations are the fastest-growin segment, residential installations will still account for around 60 per cent of total sales in 2027.