Automatic meter reading is just the beginning
Today, the most common use case for utilities IoT is automatic meter reading (AMR) via smart meters. Metering system operators can collect data automatically, without visiting the physical meter in the field.
The rapid development of smart meters has been sparked by legal regulation and commercial requirements. Almost one third of EU electricity customers had a smart meter at the end of 2016, a number that is set to double over the next five years.
Regulation compliance and operational efficiency
Industry regulations increasingly require accurate meter data to be collected at regular intervals, and made available to all energy suppliers for billing purposes. By automating this process, metering system operators can collect data of a higher quality and do so more rapidly, using less manpower than manual reading.
AMR is a cost efficient way to collect accurate readings based on actual consumption from millions of meters. Smart meters also give utilities the ability to operate and upgrade every node remotely.