Market Research Reports, Inc. has announced the addition of “Wireless Communication Modules for Smart Meters, 2013 Update - Market Analysis and Forecasts to 2020” research report to their offering.
Lewes, DE -- (SBWIRE) -- 12/16/2013 -- An increase in smart meter deployments will see the global market for wireless communication modules approximately double in value over the coming years, jumping from $532m in 2012 to $1.3 billion in 2020, at a Compound Annual Growth Rate (CAGR) of 12%.
The latest report states that North America, currently the dominant player in the global wireless communication modules market for smart meters, will be a key driver behind the leap, with its own market revenue expected to climb steadily from $379m in 2012 to $433.7m in 2020.
Europe will also continue to account for a considerable share of the global market, thanks to a significant number of pilot-scale projects getting underway across the region. The uptake of wireless communication modules in the UK, Denmark and Ireland in particular looks promising, according to GlobalData, and these countries are predicted to occupy an even larger share of Europe’s wireless smart meter communication market by the end of 2020.
Cellular and Radio Frequency (RF) communication modules are the two key technologies used in smart meters for two-way data transmission. RF modules account for an 85% share of the North American market, thanks to their low cost, high bandwidth and efficient performance in industrial areas.
Analyst of this report, says: “The preference for wireless communication modules over wired technology is also owed to their incredibly secured network, and as a result, we expect to see an increased take-up of wireless technology for smart meter deployments across North America, the UK and Japan, which will continue to drive the market over the forecast period.”
However, while the outlook for the wireless communication modules market is largely positive, a number of challenges remain that will prevent any further growth in global revenue.
“The problem of coverage is one of the major restraints of the market for cellular communication modules,” says Bindu. “For an indoor electric meter, GPRS technology provides just 80–85% coverage, if the electric meter, or other grid device, is not moved accordingly.
“Furthermore, the high operating costs that must be paid by the utilities to mobile carriers is also off-putting. For example, in the UK, Baringa Partners estimated a $7.4 charge per household for a once-a-day, off-peak meter reading each year– a charge that increased even more during peak times. While the cost of the cellular service in North America has been lowered to $5, this is still relatively high when compared with RF mesh technology, for which the operating cost is nil,” the analyst concludes.
This report provides an analysis on the market developments in the global market for wireless communication modules used in smart meters. The key countries covered in the report are the US, Canada, the UK, Denmark, Ireland, Australia and Japan.
For more information visit: http://www.marketresearchreports.com/globaldata/wireless-communication-modules-smart-meters-2013-update-market-analysis-and-forecasts
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