The shipments were up 23.8 percent when compared to the fourth quarter of 2010.
In the accompanying forecast, annual smart meter shipments are projected to surpass 140 million units worldwide by 2016, up from 25.4 million in 2011. This represents a compound annual growth rate (CAGR) of 32.9 percent over the 2011 to 2016 period.
The revival of the Canadian market and an uptick in shipments to Central and Eastern Europe were the primary drivers in the closing quarter of 2011.
In 2012, smart meter shipments in Europe will accelerate as country-level planning continues to progress and the pathway towards the European Commission’s “20-20-20” targets finally begins to materialize. Shipments will also ramp up significantly in the Asia-Pacific region as the massive markets in China and India begin to integrate advanced metering infrastructure (AMI). The Japanese market is also gaining momentum with the renewed focus on conservation in the wake of Fukushima, while utilities in Oceana are learning to manage the consumer backlash that emerged from previous deployments.