EU energy targets are prompting European nations to invest more in smart metering, finds a new report from Frost & Sullivan.

Europe’s smart meter market is set to expand by 26 per cent, with France, the UK and Spain showing strongest growth, according to the report.

CRE, the French energy regulator, has said it wants mandatory smart meter implementation for all electricity consumers by 2016. Meanwhile, the British government has announced plans to install 53 million electric and gas smart meters in homes and businesses by 2019, which would involve a 109 per cent increase in UK electricity smart meter shipments from 2010 to 2019.

Echelon and Landis+Gyr together held 65 per cent of Europe’s smart meter market in 2010, said Frost & Sullivan. But Itron and Elster are likely to gain market share through the high volume of market deployments expected over the next few years, the report forecasts.

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