Report: 400+ vendors to fight over emerging $66B smart meter market
- Over 400 vendors will compete for $66.3 billion in smart meter opportunities across 35 emerging market countries in 2023, a new report from the Northeast Group predicts, with local vendors expected to outnumber international vendors.
- Currently, leading international vendors of smart metering, distribution automation, IT, home energy management and professional services have an average of three to five emerging market partners; while almost all such vendors are present in emerging markets, more than 10% already have offices in the 35 countries.
- While there have been a significant number of mergers and acquisitions in developed smart grid markets, that number is expected to flatten out; meanwhile, mergers and acquisitions in emerging market countries are expected to increase as international vendors seek to provide solutions modified for the local market.
From the article:
"... 'The smart metering market alone is expected to cumulatively reach $66.3 billion in emerging markets by 2023 – it is not surprising that emerging market-based companies are rising to meet this demand,' said Northeast Group. 'Local vendors are often best positioned to understand the unique characteristics of specific smart grid markets, which can vary greatly from region to region. These vendors are proving to be invaluable partners for international vendors and several of them are also capable of carrying out large-scale projects on their own.' ..."