The shift from traditional electricity meters to smart meters represents one of the most significant global IoT initiatives. By 2030, an estimated 2.2 billion electricity smart meters will be in operation. The major drivers for this trend include energy conservation, the desire to curb electricity theft, improved load-balancing capabilities, and the expanding use of renewable energy sources. In addition, the push to reduce reliance on nuclear power and the increasing demand for electric vehicle (EV) charging are expected to boost the utilization of renewables in the energy sector, further propelling the adoption of smart electricity meters.
With over 21% of our customers being from the utility sector, we work with electricity metering projects globally. Let’s dive deeper into the smart electricity market, applications, and success stories.