European Smart Meter Markets report 2009

DUBLIN, IRELAND: Research and Markets has announced the addition of Frost & Sullivan's new report "European Smart Meter Markets" to its offering.

The study European smart meter market focuses on the market need for the smart electrical meters. It also includes a indepth analysis of the different types of technology which are prevalent in the industry. Forecasts have been charted based on the revenue and outputs of the different scenarios. Strategic recommendations have been provided keeping in mind the present market scenario and also the future outlook of the European smart meter market.

Smart meters set stage for efficient energy management
The increasing cost of electricity and the perennial need for efficient energy management solutions has given rise to smart meters. Their ability to communicate energy usage data in real-time opens up numerous lucrative market opportunities.

"Smart meters form an integral part of a smart grid," notes the analyst of this research. "Moving forward, complete automation of the grid is set to become the norm with real-time information at the customers' fingertips."

Smart meters represent the first step towards energy management. The European smart meters market has experienced significant progress over the last few years when compared to the rest of the world and is now moving towards complete grid automation.

Product differentiation paralleled by service-based model key to success
However, challenges such as interoperability and data security are restraining market growth. Another issue is the lack of clarity regarding its business case, causing utilities to delay investments and large-scale deployments.

"Communication is the backbone for a smart grid operation and to have interoperable solutions is of paramount importance," explains the analyst. "A system which runs on multiple standards is one of the best ways to distinguish one's product over the competition."

As competition intensifies, it is important to have high product differentiation. The business case would need to traverse the range from product- to service-based benefits, thereby achieving a competitive edge. "Smart meter manufacturers need to move from a product- to a services-based model," advises the analyst.

"Investments in meters alone will not yield higher returns. In order to rapidly gain market share, manufacturers need to customise their entire automated meter infrastructure (AMI) solution for consumers."