Smart Metering in Latin America - 2nd Edition

Smart metering is widely regarded as a cornerstone for future smart grids and is currently being deployed all over the developed world, with a growing number of largescale initiatives now also being launched in developing countries. With more than 215 million electricity customers, Latin America constitutes a large market with significant potential, as well as a significantly lower penetration rate of smart meters in comparison to regions such as East Asia, Europe and North America.

The annual demand for electricity meters in Latin America ranges from 20 to 30 million units, out of which Brazil and Mexico together account for over 65 percent. With the exception of Costa Rica and Uruguay, Latin America has not yet seen the implementation of nationwide smart metering projects. However, a number of utilities in the region are scaling-up their smart metering initiatives and in some cases in the midst of large-scale rollouts.

The rollout of smart electricity meters in Costa Rica progresses steadily and the country reached a milestone during 2022 when the smart meter penetration rate surpassed 50 percent. The largest DSO group in Costa Rica Grupo ICE announced that it aims to reach 100 percent smart meter coverage by 2035. In Uruguay, the nationwide rollout by the state-owned utility is in its end-phase and the country is expected to become the first Latin American country to reach full smart metering coverage in 2024.

Brazil is a highly interesting market for smart metering solution vendors with its 95 million electricity users and low penetration rate of smart meters - 5.6 percent in 2023. Utilities in the country are increasingly investing in the technology and the country is forecasted to account for nearly 50 percent of the shipped Smart electricity meter adoption in Latin America poised to surge by 2029 smart electricity meters in Latin America during the forecast period. The penetration rate of smart electricity meters in Mexico is forecasted to increase from around 8.5 percent in 2023 to nearly 22.0 percent in 2029.

Overall, high non-technical electricity losses due to the prevalence of energy theft throughout Latin America will continue to be a major driver for smart metering investments. In recent years, Chinese meter vendors have achieved increasing success in the Latin American market. A key contributing factor is their ability to offer competitive pricing, a crucial aspect for the price-sensitive utilities operating in the region.

The installed base of smart electricity meters in Latin America - defined as Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Panama, Paraguay, Peru and Uruguay - will grow at a compound annual growth rate of 20.5 percent from 14.0 million in 2023 to 42.9 million in 2029

Highlights from the Report

• In-depth market profiles of Brazil, Mexico, Argentina, Bolivia, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Panama, Paraguay, Peru and Uruguay
• 360-degree overview of next-generation PLC, RF and cellular technologies for smart grid communications
• Profiles of the key players in the smart metering industry in Latin America
• New forecasts for smart electricity meters until 2029
• Analysis of the latest market and industry developments in each of the countries
• Case studies of smart metering projects by the leading energy groups

Questions Answered in the Report

• How are the national energy policies driving the adoption of smart metering?
• What is the current deployment status of major utilities across Latin America?
• How are market-liberalising reforms changing the energy utility sector in Latin America?
• Which are the leading smart metering solution providers in Latin America?
• What is the outlook for the first wave of smart metering rollouts in Latin America?
• Which communications technologies are being used for smart metering in Latin America?
• Which are the main electricity and gas utilities in each country?

Who Should Read this Report?

Smart Metering in Latin America is the foremost source of information about the ongoing transformation of the metering sector in this region. Whether you are a solution vendor, utility, telecom operator, investor, consultant or government agency, you will gain valuable insights from our in-depth research.