Apr 15 2010
A new analysis ‘Smart Metering – A Technology Analysis’ conducted by Frost & Sullivan concludes that smart metering technologies serve as essential devices to utility companies looking to address issues such as increasing energy prices and environmental concerns.
The implementation of smart metering technologies results in decreased usage of electrical energy which in turn results in decreased emissions. Smart grid represents a multi-billion dollar sector, driven mainly by regulations targeted at increasing energy efficiency. In Europe, the smart metering sector is driven by legislation and regulations. The European Parliament laws necessitate EU member countries to install smart meters with a coverage of 80% by the year 2020.
Even though smart grid and smart metering represent numerous benefits, lack of awareness about this technology among consumers and utilities is holding back its widespread adoption. Integral components to smart grids, including communication networks, sensors and smart meters make the smart grid prone to hacker attacks. Another challenge to the installation of smart meters is the tedious task of managing high volumes of information. Moreover, the multiple modes of communication protocols have given rise to compatibility issues for suppliers, consumers and utilities.
The new report from Frost & Sullivan offers comprehensive analysis on industry trends, competitive environment and market drivers and challenges in the smart metering market.
Source: http://www.frost.com