Smart meter shipments in the second half of 2012 grew in comparison to the first half of the year. The total volume reached 19.75 million meters worldwide in 3Q 2012 and 20.95 million meters in 4Q 2012. Overall for the year, smart meter shipments were up 1.03% over 2011. The big driver came from China, where the pace of shipments accelerated despite a slowing overall economy.
The pace of meter shipments in North America, however, slowed from the previous quarters, as projects funded by the American Recovery and Reinvestment Act (ARRA) have mostly been completed. As a result, there were no large-scale smart meter deployments announced in the second half of 2012. Instead, smaller municipal and cooperative utilities began smart meter projects throughout North America and Europe. Further dampening the smart meter industry was Brazil