LONDON, April 27, 2015 /PRNewswire/ -- The market for prepaid electric metering is steadily gaining ground due to smart metering technology, as well as growing acceptance of the idea of prepaying for services. Smart meters and the accompanying advanced infrastructure can enable utilities to offer prepay as an option. However, some regulators have not allowed this payment method because they see risks to vulnerable customers, such as the elderly or those on low incomes. Other customers prefer prepaying for electricity since it helps them better manage their budgets and, in some cases, reduce their energy consumption.
In a few markets, like Great Britain, South Africa, and some countries in Asia Pacific, the existing prepaid meters and payment systems have been accepted and adoption is expected to grow. In Great Britain, for example, new smart meters will be installed so they can be used for prepay if the customer desires. In South Africa, prepay has been in use for more than 20 years, and conventional prepaid meters are expected to change slowly to smart versions as investments in new metering technology unfold. Similarly, in some Asia Pacific markets like Indonesia, conventional prepaid metering has a foothold and is expected to shift gradually to more advanced methods. According to Navigant Research, the global installed base of prepaid metering customers is expected to grow from 31.7 million in 2014 to 85.2 million in 2024.
This Navigant Research report examines the global market opportunity for prepaid electric metering, including the meters and related software and services. The study 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.
Key Questions Addressed:
What are the key trends shaping the prepaid electric metering market?
What types of prepaid electricity programs are available?
What is the size of the prepaid metering market?
What technical issues influence the prepaid electric metering market?
What is the forecast for the installed base of prepaid electric metering?
Who are some of the key vendors in the prepaid metering market?
Who needs this report?
Smart and conventional prepaid metering manufacturers
Electric utilities and grid operators
Software and service vendors
Electric utility regulators
Systems integrators and consulting firms
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