Press release
Global Smart Meter Market Forecast: USD 22 Billion by 2032
Smart Electricity Meter Market
The Global Smart Electricity Meter Market is experiencing significant momentum, with the market size valued at approximately USD 13.71 billion in 2024, and projected to reach USD 22.02 billion by 2032, growing at a CAGR of 6.1% during the forecast period. Rising demand for efficient energy monitoring, real-time billing, and the shift toward smart grids are the primary growth drivers.
As utility providers and governments push for energy conservation and grid automation, smart meters are becoming integral to the digital transformation of electricity distribution systems.
Competitive Landscape and High-Demand Regions
Key players in the industry include Landis+Gyr, Itron, Schneider Electric, Honeywell, and Siemens, all of which are actively innovating in meter connectivity, AMI systems, and advanced energy data analytics. Asia-Pacific leads in terms of market demand, followed by robust expansion in North America and Europe due to government-backed modernization initiatives.
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🇺🇸 United States - Growth in Smart Meter Deployment
Smart Meter Growth in the United States
The United States is witnessing steady smart meter deployment, encouraged by government grants and energy efficiency mandates. The shift toward advanced metering infrastructure (AMI) has improved operational efficiency for utilities and offered consumers greater control over energy usage.
Market Consolidation and Strategic Developments
Itron completed a major acquisition of a software-driven AMI solution provider to boost cloud integration. Landis+Gyr introduced AI-enabled meters in partnership with regional utilities to enhance grid resilience and monitoring capabilities.
Asia-Pacific - Smart Meter Opportunities in Emerging Economies
Smart Meter Opportunities in Asia-Pacific
Countries like China, India, Japan, and Indonesia are investing heavily in smart grid infrastructure. Urbanization, rising electricity demand, and initiatives like India's National Smart Grid Mission are accelerating deployment. Asia-Pacific accounts for the largest market share globally.
Trends and Mergers in Asia-Pacific
Landis+Gyr expanded its presence in Southeast Asia through smart meter contracts with urban utilities. Itron partnered with local governments to supply low-cost, high-efficiency meters suitable for remote installations.
🇪🇺 Europe - Regulatory Trends Supporting Growth
Smart Meter Trends in Europe
The EU's target to replace 80% of electricity meters with smart alternatives by 2027 has spurred innovation. European smart meters are now integrating multi-utility features, helping achieve energy transition goals across the continent.
Technological Updation and Acquisitions
Siemens acquired a grid analytics startup to enhance its smart metering capabilities. Schneider Electric rolled out next-gen smart meters with predictive maintenance features across several EU markets.
Middle East and Africa - Smart Meter Growth in Infrastructure Development
Smart Meter Growth in Middle East & Africa
With infrastructure rapidly developing in nations like UAE, Saudi Arabia, and South Africa, smart meter implementation is gaining traction. These devices help utilities reduce technical and commercial losses while enabling prepaid metering models.
Consolidation and Strategic Partnerships
Honeywell entered a strategic partnership with utilities in the GCC to support full-scale rollouts of smart meters. Siemens secured a key contract in North Africa for a large smart grid pilot project.
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Breaking Down the Smart Electricity Meter Market: Key Segments Shaping the Industry
by Phase
Single Phase
Three Phase
The power line communication segment is expanding at the highest CAGR of xx% throughout the forecast period, according to the kind of communication technology. The market is expected to be dominated by power line communication. Because of its advantages, which include using the current utility infrastructure of poles and wires, being more cost-effective for rural lines, and being usable in difficult-to-reach places, power line communication is the most widely utilized communication method. The technology is well-established, has open standards, and is available from multiple manufacturers.
by Technology Type
Radio Frequency
Power Line Communication
Cellular
According to phase, the three-phase category is anticipated to dominate the market during the forecast period and develop at the highest CAGR of xx%. The majority of three-phase meters' uses are in large-scale commercial and industrial settings. The installation of three-phase smart electric meters is driven by the higher cost of three-phase meters compared to single-phase meters as well as the expansion of commercial facilities and enterprises.
by End User
Residential
Commercial
Industrial
The residential segment of the smart electric meter market is projected to have the xx% market share over the forecast period, according to end users. Reducing reliance on fossil fuels would be made easier with the installation of smart electric meters in homes. These meters can help consumers monitor, regulate, and reduce their grid consumption while also integrating their use of renewable energy sources like solar panels. The growing significance of power management solutions is pushing the market for smart electric meters and the extensive usage of advanced electrical, electronic, and data equipment.
Meet the Industry Leaders Revolutionizing the Smart Electricity Meter Market
1. Itron
2. Landis+Gyr
3. Jiangsu Linyang
4. Wasion
5. Aclara Technologies
6. Schneider
7. Siemens
8. Honeywell
9. Iskraemeco
10.ABB
11.GENERAL ELECTRIC
12.Holley Technology LTD.
13.Elster Group GmbH
14.Iskraemeco d.d.
15.Schneider Electric, Inc.
16.Aclara Technologies LLC
17.Iskraemeco d.d.
18.Microchip Technology Inc.
19.LINYANG Energy
20.Holley Technology UK Ltd.
21.OSAKI ELECTRIC CO., LTD.
22.Sensus
23.Trilliant Holdings Inc.
24.Kamstrup and E.ON UK plc
Uncover Key Insights Answering the Biggest Questions in the Smart Electricity Meter Market
What is Smart Electricity Meter ?
What is the growth rate of the Smart Electricity Meter Market?
Which are the factors expected to drive the Smart Electricity Meter market growth?
What is the CAGR at which the Smart Electricity Meter market will grow during the forecast period?
What are the different segments of the Smart Electricity Meter Market?
Which is the fastest growing region in the Smart Electricity Meter market?
What growth strategies are the players considering to increase their presence in Smart Electricity Meter ?
What are the upcoming opportunities and trends for the Smart Electricity Meter Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Smart Electricity Meter Market?
Who are the leading companies and what are their portfolios in Smart Electricity Meter Market?
What segments are covered in the Smart Electricity Meter Market?
Who are the key players in the Smart Electricity Meter market?
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Explore the Revolutionary Products Powering Market Success
Past Size and Competitive Landscape
• Past Pricing and price curve by region
• Size, Share, Size Forecast by different segment
• Dynamics Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• Segmentation A detailed analysis by segment with their sub-segments and Region
• Competitive Landscape Profiles of selected key players by region from a strategic perspective
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