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Smart Metering allows real time communication of the important electricity usage metrics to the utilities and the customers, thus enabling them both to make important decisions in keeping electricity demand and supply side well aligned with each other. Major utilities around the globe, have therefore embarked on wholesale replacement with smart electric meters at a fast pace.
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Smart meter deployments – a harbinger for true smart grid realization
With the first of electricity meters installed more than 120 years ago no one could have imagined how much the metering landscape would have transformed over the years to what it has become now. With the collusion of communication technology, energy management has become more efficient and practical in real-time. This remarkable development sets the pace for numerous other initiatives being taken in the name of smart grid technology. The energy savings thus promised through customer demand side management has prodded governments to inject funds for utilities to embrace smart grid deployment rapidly.
Smart Metering allows real time communication of the important electricity usage metrics to the utilities and the customers, thus enabling them both to make important decisions in keeping electricity demand and supply side well aligned with each other. Major utilities around the globe, have therefore embarked on wholesale replacement with smart electric meters at a fast pace.
Hence, for all the good or bad reasons (the latter being debated in the realm of public perceptions towards change) smart grid adoption is soaring. While it is safe to say that there are close to 32 countries that have decided to proceed with smart grid metering products, the global market will have increased by 56% in five years (between 2010 -2015). These projects translate to over 416 million smart meter installations globally by 2020 based on estimates for large national deployments alone and not including the installations performed by smaller utilities in these countries. In value terms, the projected market for smart meter deployments worldwide between 2010 and 2015 stands at $19.5 billion. (Pike Research)
According to another estimate, smart grid global business will touch a remarkable figure of $155 billion by 2018 (Memoori BI Research) which is some 50% greater than the current annual expenditure for all electrical transmission and distribution equipment. This will be set about as a result of infrastructural restructuring on both the supply and demand side for true smart grid realization.
Smart grid projects are moving swiftly across Europe to meet the deadline to convert 80 percent of European households into smart homes by 2020.
With the slowing down of the U.S. metering market ever since the stimulus dollars have been allocated, Europe is arguably the hottest market for the next few years and not to forget the Chinese market.
Trends in smart grid partnership building & investment
Due to the immense growth in smart grid technology and the short window of opportunity that companies have with respect to meeting rapid pace of global metering deployments, many companies are seeking to invest heavily into this sector to bolster their strengths. Some are doing so with the help of building partnerships with other competent technology manufacturers or by investing in such companies.
So much so, in the space of five years, mergers and acquisitions have grown from $134 million in 2007 to $10.6 billion in 2011. This indicates how much the supply side is trying to gear up to meet the challenges ahead of smart grid technology and the demand for smart grid products.
About MicroTech Industries Pvt Ltd
MicroTech Industries is a leading technology manufacturer in smart grid meters with a major share in electricity meter market in Pakistan - 6th highest ranked population country with an increasingly high energy demand. It has a wide variety of product portfolio in smart metering ranging from polyphase to single phase meters, with whole current, CT & PT type, prepayment and postpayment smart meters. MTI’s smart meter products meet IEC standards and have won three prestigious smart metering certifications such as DLMS / COSEM which is the most popular certification in smart meter communication standards. MTI makes use of the latest manufacturing equipment including SMT technology and has met stringent IEC and ISO standards.
MTI is 100% equity company which has been strong and stably since its inception 1992. It is open to various partnership opportunities that may include OEM, contract manufacturing, reseller partnerships, or direct investment in the sector of smart metering. You may reach the following contact for more information.
www.mtilimited.com
