Smart Meter adoption is experiencing massive takeup around the world with global shipments exceeding 100 million this year and set to grow to more than 250 million by 2016.
This is the forecast from research group, ABI, who says the take up of smart meters in Europe, as a result of European legislation, as well as new developments in renewable energy is fuelling the technology take up rate.
And Australia is not too far behind, with the country leading advanced metering infrastructure take up in the Asia Pacific region.
Smart meters play a significant role in rolling out energy efficiency initiatives due to the two–way communication that connects the utility and customer, facilitating the growing dynamic response and home automation markets.
New Zealand, China, South Korea and Singapore have also announced plans for various initiatives in the smart energy sector.