Power Metering Market Updates

Power Metering Market size was valued at USD 23.16 Billion in 2023 and is poised to grow from USD 24.53 Billion in 2024 to USD 38.8 Billion by 2032, growing at a CAGR of 5.90% during the forecast period (2025-2032).

Key vendors in Power Metering Market are : 'Schneider Electric SE  ', 'Eaton Corporation plc  ', 'Siemens AG  ', 'General Electric Company  ', 'Honeywell International Inc.  ', 'Landis+Gyr AG  ', 'Itron Inc.  ', 'Kamstrup A/S  ', 'Wasion Group Holdings Limited  ', 'Holley Technology Ltd.  ', 'Jiangsu Linyang Energy Co. Ltd.  ', 'Mitsubishi Electric Corporation  ', 'Toshiba Corporation  ', 'Fuji Electric Co. Ltd.  ', 'Haier Group Corporation  ', 'Xylem Inc.  ', 'Circutor SA  ', 'Carlo Gavazzi Holding AG ', 'Hubbell Inc. '

The world is hungrier for energy than ever before and as the world struggles to fulfill this surging demand for energy, it is deploying measures to conserve energy and improve its proper utilization. Increasing focus on effective energy consumption among organizations and individuals is slated to bolster the demand for power metering in the future.

Smart Power Metering: The adoption of smart power meters is forecasted to increase at a notable pace across the forecast period as power metering technology advances. Governments across the world are necessitating the use of smart power meters to improve energy consumption and manage the effectiveness of power grids to satisfy the surging demand for power.

The Asia Pacific region is estimated to account for a massive share of the global power metering demand outlook. This can be attributed to the presence of a huge power supply network to some of the world’s largest population bases such as China and India, which also lead the market growth in this region. High investments in infrastructure development and growing electricity usage from the industrial sector are also predicted to bolster power metering market growth in the Asia Pacific region across the forecast period. Initiatives taken by governments in this region to optimize energy supply are also estimated to bolster sales of smart power meters and thereby drive power metering market development as well.