(openPR) - Smart energy meters, which accurately track energy consumption, offer major benefits to both customers and companies: they can detect service outage, the unauthorized use of electricity and change the maximum amount of electricity that a customer can demand.
According to TechNavio, the market for the Smart energy meters in Germany is forecast to reach $746.2 million in 2013 from $20.0 million in 2009; thus, growing at a CAGR of 147.1 percent over the forecast period
In Germany, the amendment of the Energy Economy Law in 2008 brought about the quick liberalization of meter reading services. This led to developments in the Smart meter market. The increasing energy requirements, compliance to technical targets and the rapidly increasing residential sector are further driving the sales of the Smart meters in Germany. Moreover, a full-fledged large scale implementation of Smart energy meters in every household within Germany is yet to be observed.
The requirements and directives of international agreements, such as the Kyoto protocol, are further driving the sales of Smart energy meters.
"In Germany, it is compulsory for metering service companies to install meters that collect the actual consumption and time of use, from 2010," says a TechNavio expert.
This report covers the scope of Smart energy meter market in Germany, along with forecasts, trends, drivers and challenges.
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