What is the global market size of the Smart Meters Market?

Global Smart Meters Market size was valued at USD 20.76 billion in 2021 and is poised to grow from USD 22.86 billion in 2022 to USD 54.34 billion by 2030, growing at a CAGR of 10.1% in the forecast period (2023-2030).

What is the key driver of the Global Smart Meters Market?

Due to rising electricity demand from more people who have access to rural electrification, prices per unit of electricity have grown globally. The meter offers electric companies several benefits, including the elimination of monthly manual readings, immediate system monitoring, lowering electricity costs based on demand, providing real-time data to prevent power failures, and others. Along with the benefits it offers to electric companies, the meter also offers customers certain perks, such as thorough feedback on their energy usage and the ability to manage their monthly costs. It lessens the frequency of power outages and system breakdowns.

What is the key market trend for the Global Smart Meters Market?

The need for smart gadgets has been fueled by rapid advancements in cloud computing, analytics, and electronics. The market for smart meters is expanding as a result of governments' increased investments in smart cities. The market for smart grids has been pushed by the expansion of remote power grid monitoring and control, which also drives up demand for meters. India started its 'Smart City Mission' effort in 2015 to change the appearance of its cities. The programme received USD 28.31 billion in total investments in 2020, of which 5,331 projects totaling USD 24.31 billion were put up for bid. As of 2020, 2,122 projects totaling 4.83 billion dollars had been finished out of 4,540 projects with work orders.

Which region accounted for the largest share in the Global Smart Meters Market?

Based on the region, the market is categorized into North America, Europe, Asia-Pacific, South America, and MEA. The Asia Pacific accounted for the largest market share and is expected to remain the leader in Smart Meters in the coming years. The regional growth of the market is attributed to the growing deployment of smart meters to reduce unexplained electricity losses and introduce tariff plans based on client usage; the Asia Pacific now owns the greatest market share in the global industry. In the Asia Pacific and worldwide, China has the smartest meters installed. The usage of smart electricity meters is expanding as a result of the abolition of manual meter readings and improved direct interaction between the electric company and end users. Asia Pacific will rule this market during the projection period thanks to the significant smart meter roll-outs planned in South Korea, Japan, India, and Australia.

Top Smart Meters Companies

Skyquest Technology's expert advisors have carried out comprehensive research and identified these companies as industry leaders in the Smart Meters Market. This Analysis is based on comprehensive primary and secondary research on the corporate strategies, financial and operational performance, product portfolio, market share and brand analysis of all the leading Smart Meters industry players.

Smart Meters Market Competitive Landscape

The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions.

Smart Meters Market Top Players' Company Profiles

Itron, Inc.
Landis+Gyr AG
Schneider Electric SE
Siemens AG
Honeywell International Inc.
Kamstrup A/S
Sensus USA Inc.
Aclara Technologies LLC
Holley Technology Ltd.
Jiangsu Linyang Electronics Co., Ltd.
Wasion Group Holdings Ltd.
Iskraemeco d.d.
Elster Group GmbH
EDMI Limited
Toshiba Corporation
Echelon Corporation
ABB Ltd.
Silver Spring Networks, Inc.
Trilliant Holdings, Inc.
Landis+Gyr Inc.

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FAQs

Global Smart Meters Market size was valued at USD 25.31 Billion in 2024 poised to grow between USD 27.26 Billion in 2025 to USD 49.34 Billion by 2033, growing at a CAGR of 7.7% in the forecast period (2026–2033).

The global Smart Meters Market outlook is highly competitive, with key players including Siemens, Itron, Landis+Gyr, Schneider Electric, and Honeywell. These companies focus on strategic partnerships, smart grid innovations, and AI integration. For example, Itron emphasizes data-driven energy solutions, while Siemens advances AMI platforms with IoT capabilities. Landis+Gyr invests in sustainability-focused technologies, enhancing meter accuracy and energy management across utilities worldwide to maintain competitive advantage and market share. 'Itron Inc. (USA)', 'Landis+Gyr (Switzerland)', 'Siemens AG (Germany)', 'Honeywell International Inc. (USA)', 'Schneider Electric SE (France)', 'Aclara Technologies LLC (USA)', 'Sensus (Xylem Inc.) (USA)', 'Kamstrup A/S (Denmark)', 'Elster Group GmbH (Honeywell) (Germany)', 'Wasion Group Holdings (China)', 'Hexing Electrical Co., Ltd. (China)', 'Jiangsu Linyang Energy Co., Ltd. (China)', 'EDMI Limited (Singapore)', 'Zenner International GmbH & Co. KG (Germany)', 'Iskraemeco (Slovenia)'

Governments and utilities are prioritizing energy efficiency to reduce emissions and optimize consumption. Smart meters enable accurate, real-time monitoring and data-driven insights, empowering consumers to manage usage. This demand for transparency and sustainability is driving the rapid adoption of smart meters across residential, commercial, and industrial sectors worldwide.

Expansion of Prepaid Metering Systems: Prepaid smart meters are gaining popularity, especially in emerging economies, for improving billing transparency and revenue assurance. Consumers benefit from better control over energy expenses, while utilities reduce defaults and operational costs. This global Smart Meters Market trend supports energy access initiatives and is being widely adopted by governments and private energy providers alike.

Which European Countries have Undertaken Nationwide Smart Meter Rollouts?

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Top Smart Meters Companies

Smart Meters Market Competitive Landscape

FAQs

What is the global market size of Smart Meters Market?

Who are the key vendors in the Smart Meters Market?

What is the key driver of Smart Meters Market?

What is the key market trend for Smart Meters Market?

Which region accounted for the largest share in Smart Meters Market?

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