The worldwide market for smart meters will enjoy a compound annual growth rate of 21% in the next few years, reaching more than $15 billion in 2016, compared with $4.4 billion in 2010, according to MarketsandMarkets. The U.S. is the biggest national market for smart meters, with almost 500 electric utilities having installed the products, the market research firm reports. Meanwhile, Navigant Research estimates that the world's installed base of smart meters for distribution automation applications will increase from fewer than 10 million this year to 143.2 million units by 2020.

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