BOULDER, Colo.--(BUSINESS WIRE)--A recent report from Navigant Research examines the global market opportunity for prepaid electric metering, including global market forecasts for shipments, installed base, and revenue through 2024.
Though the overall adoption of prepaid electric metering is expected to increase thanks to increased acceptance by utilities and customers alike, the trend is playing out differently depending on the market and geography. In markets like southern Africa and some countries in Asia Pacific, the use and deployment of conventional prepaid metering systems is well-established and growing, whereas in North America and most of Europe, penetration is less-established and is expected to move ahead at a slower, yet steady, pace. Click to tweet: According to a recent report from Navigant Research, the worldwide installed base of prepaid meters is expected to total more than 85 million from 2014 to 2024.
“Utilities see prepaid metering as a way to avoid bad debt and increase cash flow,” says Neil Strother, principal research analyst with Navigant Research. “Advanced smart meters and utility back-office processes can remotely enable customers to pay for electricity ahead of usage without having to install a prepay-only meter and, in addition, some customers are finding prepay programs to be helpful in managing their budgets and becoming more energy efficient.”
While prepay programs are expected to expand during the forecast period, they are also expected to face resistance from reluctant regulators, customers unaccustomed to paying for electricity in this way, and a lingering stigma that prepay is for the financially challenged, according to the report. For prepay to flourish, Navigant Research believes there would need to be a major shift among regulators and a strong push by larger utilities to move the needle.
The report, Prepaid Metering, examines the global market opportunity for prepaid electric metering, including the meters and related software and services. It provides an analysis of the drivers and barriers shaping the markets for conventional prepaid, smart prepaid thick, and smart prepaid thin meters, along with key technology issues. Global market forecasts for shipments, installed base, and revenue, segmented by region and meter type, extend through 2024. Key vendor profiles and a discussion of broad metering trends are included, as well. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
About Navigant
Navigant is a specialized, global professional services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals deliver expert and advisory work through implementation and business process management services. The firm combines deep technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism to address clients’ needs in highly regulated industries, including Construction, Energy, Financial Services and Healthcare. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, Prepaid Metering, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
