A new report has confirmed that emerging markets and particularly the Asia-Pacific region look set to continue progression for Smart Grid technology.

The Asia Pacific region will continue to outpace all other regions driven by major deployments in China, utilizing a different breed of smart meter technology.

The global smart meter market is forecast to experience a modest 4.9 per cent CAGR between 2012 and 2020, but hidden beneath seemingly steady growth are significant regional peaks and valleys, each with their own opportunities and risks.

As anticipated in earlier Pike Research smart meter forecasts, the North American market has already peaked, and faces dramatic near-term contraction, just as the European market begins a similarly dramatic growth period.

In 2008, less than 4 per cent of the global installed base of 1.5 billion electricity meters could be considered “smart” but 4 years later this penetration will have grown to over 18 per cent, and is forecast to exceed 55 per cent by 2020.

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