Prepaid electric meter devices shipment to touch 33.5 million in 2017

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Prepaid electric meter devices shipment to touch 33.5 million in 2017

Greentech Lead America: The number of prepaid electricity
meters shipment will be 23 million in 2012, and that number will reach 33.5
million in 2017. The worldwide prepaid meter device market will reach $1.2
billion in 2012, but the spending on smart prepaid meters by utilities around
the world is expected to fall to $743 million by 2017, a 38 percent drop in the
overall value of the market.

According to a new report by Pike Research, utilities
will shift away from more expensive prepaid meters with a disconnect collar to
increasingly rely on less costly smart meters with embedded prepay
functionality. This will make a significant reduction on the total spending
over the forecasted period.

“A number of market forces are contributing to a growing
demand for prepaid electric services across the globe. They include recognition
of the significant benefits of prepaid programs to consumers and utilities,
improved energy efficiency, and technology advances, particularly the advent of
smart grid technology and the rollout of Advanced Metering Infrastructure (AMI)
and smart meters. Those advances will lead to significant cost reductions for
prepaid meters,” said Marianne Hedin, senior research analyst.  

The report also finds that the economic recession in many
parts of the world is actually having a positive impact on the adoption of
prepaid systems, as consumers look for ways to reduce their electricity
consumption and thus cost.

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