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Global Smart-Meter Shipments Rose 23% In 1Q -IDC Energy Report
6:40 AM ET 6/8/11 | Dow Jones
DOW JONES NEWSWIRES

First-quarter global smart-meter shipments rose 23% from the prior year, marking the second highest quarter of shipments to date, according to research firm IDC Energy.

Global shipments of smart meters, or electric meters that remotely communicate between utilities and their customers, rose to 5 million units, just shy of the 5.1 million record set in the second quarter of 2010.

The research-based consulting firm said it expects the global smart-meter market to exceed 71 million units by 2015, reflecting a five-year compound annual growth rate of 25.3%.

Landis+Gyr held the largest smart-meter market share, at 30%, during the first quarter. Last month, Toshiba Corp. (TOSYY, 6502.TO) agreed to acquire the Swiss advanced-power-meter maker for $2.3 billion, as it prepares to cash in on the expected growth in world-wide demand for more efficient power grids.

Itron Inc. (ITRI) held a 22.9% share, followed by Sensus with 13% of the smart meter market, IDC Energy said.