Berg Insight offers premier business intelligence to the telecom industry and gives concise reports providing key facts and strategic insights about pivotal developments. It has examined the future of smart grids and the connecting role that smart electricity meters play.

The new research report from the analyst firm appears to indicate that the installed base of smart electricity meters was bound to grow at a compounded annual growth rate of 17.9 percent between 2009 and 2015.

Estimating the number of smart electricity meters to be around 111.4 million at the end of 2015, the report dwelt at length on the benefits that would accrue.

By providing consumers with detailed information about their electricity consumption, the new smart meters would give customers control over energy costs and create financial incentives for energy savings.

In addition, the report indicated that these smart meters would ultimately be the core building blocks in future smart grids that will incorporate technologies relating to renewable generation, distribution network optimization and energy conservation.

Following major rollouts of smart meters in Italy and the Nordic region, the report claims that France, Spain and the U.K. as the next countries in Europe that will follow suit.

"In the past year, EDF, Endesa and Iberdrola, three of the absolutely largest electricity network operators in Europe, have launched large-scale pilots in France and Spain, respectively. Next year, these deployments will evolve into nationwide rollouts in these countries," Tobias Ryberg, senior analyst, Berg Insight, said.

He further added that the U.K.'s largest electricity and gas retailer British Gas has launched the first major smart metering project for residential customers in the country. All these developments in combination with rollouts in several other European countries would be key drivers in propelling the smart meter market growth over the next five years.

Berg Insight produces concise reports by providing key facts and strategic insights about pivotal developments in the respective areas. Itsr vision is to be the most valuable source of intelligence for its customers.