A recent report by Navigant Research, the research arm of Navigant (NCI), suggests that shipment of smart meters for the commercial and industrial (C&I) market will shoot up to $12.7 million annually by 2020 from the present threshold level of $10 million.
A smart meter is an electric meter that records the consumption of electricity at regular intervals and communicates that information back to the user for monitoring and billing purposes.
Smart meters offer multiple benefits to utilities and their C&I customers, who consume large quantities of energy. In addition to providing users with a more accurate reading of energy consumption, smart meters also reduce the requirement for manual or walk-by/drive-by meter readings.
The use of smart meters is increasingly gaining popularity as the utility companies are striving to lower their operating costs and provide their valuable C&I customers with detailed consumption data.
Shipment of smart meters is also expected to boost due to regulatory requirements by various countries that have set ambitious goals for curbing energy consumption and improving its efficiency. A number of countries in North America, Europe and China have already deployed smart meters to track energy consumption and use smart meters to control greenhouse gas emissions and improve energy produced by renewable resources.
Navigant is a global management consulting company serving energy-based and other regulated industries. The company helps clients succeed in a business environment of changing regulations, increasing competition and evolving technology by providing effective management consulting services in areas such as business strategy development, marketing and sales, operations management, information technology and customer care.
Navigant currently carries a Zacks Rank #2 (Buy). Some other stocks within the industry worth mentioning are Franklin Covey Co. (FC), Exponent Inc. (EXPO) and Huron Consulting Group Inc. (HURN), each carrying a Zacks Rank #2 (Buy).
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