Smart Meter Market Forecast 2024-2031: Electric/Gas/Water Segments & Regional Trends | $22.6B in 2022 to $37.2B by 2030, 9.5% CAGR Growth

Global Smart Meter Market reached US$ 22.6 billion in 2022 and is expected to reach US$ 37.2 billion by 2030, growing with a CAGR of 9.5% during the forecast period 2024-2031.

According to DataM Intelligence has published a new research report on "Smart Meter Market Size 2025". The report explores comprehensive and insightful Information about various key factors like Regional Growth, Segmentation, CAGR, Business Revenue Status of Top Key Players and Drivers. The purpose of this report is to provide a telescopic view of the current market size by value and volume, opportunities, and development status.

The Smart Meter Market encompasses digital electricity, gas, and water meters that provide two-way communication for consumption data and remote management. These meters enable demand response, dynamic pricing, and outage detection for utilities and consumers. Growth is driven by grid modernization, regulatory mandates, and energy efficiency goals. IoT connectivity, cybersecurity, and analytics add value for utilities. Rollouts often include AMI platforms and customer engagement portals. Interoperability standards and data privacy are key implementation considerations.

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➣ Recent Developments:

United States: Recent Industry Developments

✅ In July 2025, Itron launched its next-generation AMI 3.0 smart metering platform, integrating edge intelligence for real-time outage detection, grid load balancing, and predictive energy forecasting across utility networks.

✅ In June 2025, Landis+Gyr secured a multi-year contract with a consortium of U.S. utilities to deploy more than 4 million electric and gas smart meters, supporting national grid modernization and decarbonization goals.

✅ In May 2025, Honeywell introduced its AI-powered Smart Energy Suite, enabling automated billing, advanced fraud detection, and two-way communication for distributed energy resource (DER) management.

Europe: Recent Industry Developments

✅ In July 2025, the UK's Smart Metering Implementation Programme (SMIP) passed the milestone of 60 million connected meters, with enhanced interoperability and remote firmware upgrades improving national energy efficiency.

✅ In June 2025, Italy's Enel Group began large-scale rollout of second-generation smart meters, featuring higher data granularity and support for home energy management applications.

✅ In May 2025, Germany's E.ON launched an advanced AMI deployment program combining smart meters with AI-driven demand response, enabling households to optimize energy use during peak hours.

Asia-Pacific: Recent Industry Developments

✅ In July 2025, China State Grid expanded its smart metering network to support real-time pricing models, integrating big data analytics for grid reliability and EV charging management.

✅ In June 2025, India's Revamped Distribution Sector Scheme (RDSS) fast-tracked the installation of 250 million smart prepaid meters, improving billing transparency and reducing aggregate technical and commercial (AT&C) losses.

✅ In May 2025, Japan's Tokyo Electric Power Company (TEPCO) upgraded its nationwide smart meter fleet with enhanced cybersecurity features to protect critical energy infrastructure.

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➣ Top Industry Players:

Landis+Gyr, Itron, Honeywell International, Siemens AG, Kamstrup, Iskraemeco, Elster Group, ABB, Sensus and Schneider Electric.

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➣ Market Segments:

By Product: Smart Electric Meter, Smart Gas Meter and Smart Water Meter.

By Technology: Advanced Metering Infrastructure and Automated Meter Reading device.

By Communication: Radio Frequency, Power Supply System, Cellular.

By Component: Hardware and Software.

By End-User: Residential, Commercial and Industrial

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