US smart meter product and service demand is projected to increase 11.3 percent annually to $4.4 billion in 2016. Gains will be driven by the rising penetration of smart meters, particularly advanced metering infrastructure (AMI) products. The rising share of smart meters in use will support demand for parts and services.

This study analyzes the $2.6 billion US smart meter product and service industry. It presents historical demand data for the years 2001, 2006 and 2011, and forecasts for 2016 and 2021 by product (e.g., advanced metering infrastructure meters, automatic meter reading meters), market (electric utilities, water utilities, natural gas utilities) and US geographic region.

The study also considers market environment factors, details industry structure, evaluates company market share and profiles 24 industry participants, including Itron, Toshiba and Sensus USA.

				    TABLE OF CONTENTS

     SECTION									    PAGE

		INTRODUCTION							      ix

	I.	EXECUTIVE SUMMARY						       1

	II.	MARKET ENVIRONMENT						       4
		General								       4
		Economic Environment						       4
		Fixed Investment						       8
		Construction Outlook						      11
		Electricity Generation						      14
		Electric Generating Capacity					      18
		Electricity Consumption						      21
		Natural Gas Outlook						      23
		Water Distribution Outlook					      25
		Water & Sewer Spending						      29
		World Outlook							      30

	III.	REGULATIONS & TECHNOLOGY					      32
		Regulations & Standards						      32
		   Electric							      32
		      Electric Utility Deregulation				      33
			Wholesale Deregulation					      34
			Retail Deregulation					      37
		      Growth of Distributed Generation				      40
		      Net Metering						      41
		      Renewable Energy Portfolio Standards			      43
		   Natural Gas							      47
		   Water							      49
		   Other							      51
		      Energy Efficiency Resource Standards			      52
			Electric						      52
			Natural Gas						      55
		      Smart Grid						      57
		      Smart Meters						      58
		Technology							      59
		   Smart Grid							      60
		   Communications & Grid Integration				      63
		      Radio Frequency						      63
		      Cellular							      64
		      Power Line Communication					      65
		   Meter Data Management					      65
		   Smart Meter Security						      66

	IV.	PRODUCTS							      69
		General								      69
		Meters								      72
		   Demand							      73
		   Smart Meter Penetration					      76
		   Advanced Metering Infrastructure (AMI) Meters		      79
		   Automatic Meter Reading (AMR) Meters				      82
		   Leading Meter Suppliers					      84
		Parts & Accessories						      86
		   Meter & Control Software					      87
		   Communications Modules & Controls				      89
		   Other							      91
		System Installation & Integration Services			      92

	V.	MARKETS								      95
		General								      95
		Electric Utilities						      97
		   Electric Utility Outlook					      98
		   Smart Meter Penetration					     100
		   Smart Meter Demand						     102
		      Investor-Owned Utilities					     104
		      Public Utilities						     105
		      Cooperative Groups					     107
		      Independent Power Producers				     108
		Water Utilities							     109
		   Water Utility Outlook					     109
		   Smart Meter Penetration					     110
		   Smart Meter Demand						     112
		      Public Utilities						     114
		      Investor-Owned Utilities					     115
		      Cooperative Groups					     116
		Natural Gas Utilities						     116
		   Gas Utility Outlook						     117
		   Smart Meter Penetration					     119
		   Smart Meter Demand						     121
		      Investor-Owned Utilities					     123
		      Public Utilities						     124
		      Cooperative Groups					     125
		      Independent Gas Marketing Firms				     125

	VI.	REGIONAL							     127
		General								     127
		Regional Demographic & Economic Trends				     128
		   Population Patterns						     129
		   Economic Outlook						     131
		   Construction Outlook						     133
		Smart Meter Demand						     135
		   Northeast							     138
		      New England						     140
		      Middle Atlantic						     140
		   Midwest							     141
		      East North Central					     144
		      West North Central					     145
		   South							     147
		      South Atlantic						     149
		      East South Central					     151
		      West South Central					     152
		   West								     153
		      Mountain							     156
		      Pacific							     158

	VII.	INDUSTRY STRUCTURE						     161
		General								     161
		Industry Composition						     161
		Market Share							     165
		Product Development						     168
		Manufacturing							     170
		Marketing							     171
		Cooperative Agreements						     172
		Mergers & Acquisitions						     183
		Company Profiles						     185
		   Aclara Power-Line Systems, see ESCO Technologies
		   Aclara RF Systems, see ESCO Technologies
		   Aclara Software, see ESCO Technologies
		   Arad Group							     186
		   Badger Meter Incorporated					     188
		   Capstone Metering LLC					     191
		   Cooper Industries plc					     192
		   Datamatic Limited						     194
		   Dresser, see General Electric
		   E-Mon, see Honeywell International
		   Echelon Corporation						     195
		   Ecologic Analytics, see Toshiba
		   Elster Group SE						     198
		   eMeter, see Siemens
		   ESCO Technologies Incorporated				     203
		   GE Digital Energy, see General Electric
		   General Electric Company					     206
		   Holley Metering Limited					     208
		   Honeywell International Incorporated				     210
		   IBM, see International Business Machines
		   Inovonics Wireless, see Roper Industries
		   International Business Machines Corporation			     212
		   Itron Incorporated						     214
		   Landis+Gyr, see Toshiba
		   Master Meter, see Arad Group
		   Mueller Water Products Incorporated				     220
		   Neptune Technology Group, see Roper Industries
		   Oracle Corporation						     222
		   OSIsoft LLC							     224
		   Roper Industries Incorporated				     225
		   Schneider Electric SA					     228
		   Sensus USA Incorporated					     230
		   Siemens AG							     233
		   Silver Spring Networks Incorporated				     235
		   SmartSynch Incorporated					     238
		   Tantalus Systems Corporation					     240
		   Telvent GIT, see Schneider Electric
		   Toshiba Corporation						     242
		Other Smart Meter Companies					     247


				      LIST OF TABLES

    TABLE NUMBER								    PAGE


		SECTION I -- EXECUTIVE SUMMARY
		Summary Table							       3

		SECTION II -- MARKET ENVIRONMENT
	1	Macroeconomic Indicators					       8
	2	Nonresidential Fixed Investment					      11
	3	Construction Expenditures					      14
	4	Electricity Generation by Generator & Fuel Type			      18
	5	Electric Generating Capacity					      20
	6	Electricity Demand by End User					      22
	7	Natural Gas Outlook						      25
	8	Water Withdrawal & Use						      28
	9	Water & Sewer Construction Expenditures				      30

		SECTION III -- REGULATIONS & TECHNOLOGY
	1	Overview of State Renewable Energy Portfolio Standards		      46
	2	Overview of State Energy Efficiency Resource Standards for 
		   Electricity							      53
	3	Overview of State Energy Efficiency Resource Standards for 
		   Natural Gas							      56

		SECTION IV -- PRODUCTS
	1	Smart Meter Product & Service Demand				      72
	2	Smart Meter Demand by Type					      75
	3	Smart Meters in Use by Type					      78
	4	AMI Meter Demand by Type					      81
	5	AMR Meter Demand by Type					      84
	6	Smart Meter Part & Accessory Demand				      87
	7	Smart Meter System Installation & Integration Demand		      94

		SECTION V -- MARKETS
	1	Smart Meter Product & Service Demand by Market 
		   & Application						      96
	2	Electric Utility Indicators					     100
	3	Smart Electric Meter Penetration				     101
	4	Electric Utility Demand for Smart Meters			     104
	5	Water Utility Indicators					     110
	6	Smart Water Meter Penetration					     112
	7	Water Utility Demand for Smart Meters				     114
	8	Natural Gas Utility Indicators					     119
	9	Smart Natural Gas Meter Penetration				     121
	10	Natural Gas Utility Demand for Smart Meters			     123

		SECTION VI -- REGIONAL
	1	Population by Region						     131
	2	Gross Domestic Product by Region				     133
	3	Construction Expenditures by Region				     135
	4	US Smart Meter Product & Service Demand by Region		     137
	5	Northeast Smart Meter Product & Service Demand			     139
	6	Midwest Smart Meter Product & Service Demand			     144
	7	South Smart Meter Product & Service Demand			     149
	8	West Smart Meter Product & Service Demand			     156

		SECTION VII -- INDUSTRY STRUCTURE
	1	US Smart Meter Product & Service Sales by Company, 2011		     164
	2	Selected Cooperative Agreements					     174
	3	Selected Acquisitions & Divestitures				     184

				      LIST OF CHARTS

    CHART NUMBER								    PAGE

		SECTION III -- REGULATIONS & TECHNOLOGY
	1	Status of Retail Electric Utility Deregulation, 2011		      39

		SECTION IV -- PRODUCTS
	1	Smart Meter Demand by Type, 2001-2021				      76
	2	Smart Meter Penetration Rates, 2001-2021			      79
	3	Smart Meter Market Share, 2011					      86

		SECTION V -- MARKETS
	1	Smart Meter Demand by Market, 2001-2021				      97

		SECTION VI -- REGIONAL
	1	US Smart Meter Product & Service Demand by Region		     137

		SECTION VII -- INDUSTRY STRUCTURE
	1	Smart Meter Product & Service Market Share, 2011		     166