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Advanced metering infrastructure market dominated by the US
Companiesandmarkets.comJul 06, 2012 15:54 BST
The US currently accounts for around 56% of the global advanced metering infrastructure market, followed by China with roughly a 23.9% share.
The increasing demand for energy in North America has compelled utilities to upgrade the electric and distribution network in the region, giving a huge boost to the advanced metering infrastructure market.
The US advanced metering infrastructure market earned revenues of more than $2.74 billion in 2011 and forecasters predict this to reach $4.56 billion by 2016, growing at a compound annual growth rate (CAGR) of 10.7 percent.
China is expected to lead the global advanced metering infrastructure market after 2014, as most of the US smart meter deployment is expected to be completed by then. Grants from the State Grid Corporation of China, the large consumer base, and policy initiatives promoting grid modernisation and smart metering are major drivers behind the 2012 national growth rate of 30% in the smart meter market.
Government support for energy efficiency will boost the advanced metering infrastructure market. Increasing smart meter deployment and pioneering new technologies look set to revolutionise the domestic power industry.
For more informaton on the advanced metering infrastructure market, see the latest research: Advanced Metering Infrastructure Market Report
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