The Smart Electricity Meter Market Report provides a detailed evaluation of the evolving market landscape, offering clarity on size, structure, and competitive developments. It identifies key market forces influencing demand, innovations driving adoption, and strategic partnerships that shape industry dynamics.

The report further analyzes growth drivers, industry restraints, and market challenges, helping stakeholders identify areas of investment and potential risk. It covers segmentation, pricing trends, and regional growth indicators with actionable intelligence for decision-makers.

The global smart electricity meter market size was valued at USD 13.71 billion in 2024 and is projected to reach USD 22.02 billion by 2032, with a CAGR of 6.10% during the forecast period of 2025 to 2032. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

View the complete report: https://www.databridgemarketresearch.com/reports/global-smart-electricity-meter-market

Smart Electricity Meter Market Definition

A smart electricity meter is an advanced digital device that records and monitors electricity consumption in real time and communicates the data to both consumers and utility providers through a secure network. Unlike traditional meters, smart meters enable automated billing, remote monitoring, and two-way communication, allowing users to track their energy usage patterns and make informed decisions to improve efficiency.

Smart Electricity Meter Market Dynamics

Drivers

• Growing Adoption of Smart Grid Technology

The rising implementation of smart grid technology is a key driver of the smart electricity meter market, as governments and utility companies invest heavily in modernizing energy infrastructure. Smart grids integrate advanced digital communication and automation technologies, enabling efficient energy distribution, real-time monitoring, and predictive maintenance. Smart meters are a fundamental component of these grids, allowing utilities to detect power outages, reduce transmission losses, and improve demand response strategies. For instance, China’s State Grid Corporation has deployed millions of smart meters as part of its national smart grid initiative, significantly enhancing power distribution efficiency and energy management capabilities. As global electricity consumption rises, countries are increasingly mandating smart grid deployment, further propelling the demand for smart electricity meters.

• Rising Demand for Energy Efficiency and Conservation

The need for energy efficiency and conservation is driving the widespread adoption of smart electricity meters among consumers and businesses. These devices enable real-time monitoring of power usage, allowing users to identify energy-intensive appliances, optimize consumption, and lower electricity bills. In addition, features such as dynamic pricing models and demand response programs help balance supply and demand, reducing overall energy wastage. For instance, in the U.K., the government’s Smart Metering Implementation Programme (SMIP) is encouraging households and businesses to switch to smart meters, leading to lower carbon emissions and improved energy savings. With increasing emphasis on sustainable energy practices, the smart electricity meter market continues to expand, driven by the growing focus on resource efficiency and cost reduction.

Smart Electricity Meter Market Scope

The market is segmented on the basis of type, communication type, component type, phase, technology type, and end user. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Electric
• Gas
• Water

Communication Type

• RF
• PLC
• Cellular

Component Type

• Hardware
• Software

Phase

• Single-Phase
• Three-Phase

Technology Type

• AMI
• AMR

End User

• Residential
• Commercial
• Industrial

Smart Electricity Meter Market Leaders Operating in the Market Are:

• Landis+Gyr (Switzerland)
• Itron Inc. (U.S.)
• Elster GmbH (Germany)
• Hubbell (U.S.)
• Iskraemeco Group (Balkans)
• Microchip Technology Inc. (U.S.)
• Wasion Holdings International (China)
• Schneider Electric (France)
• Siemens (Germany)
• Jiangsu Linyang Energy Co., Ltd. (China)
• Genus (India)
• Networked Energy Services (U.S.)
• Holley Performance Products, Inc. (U.K.)
• OSAKI ELECTRIC CO., LTD. (Japan)
• Xylem (U.S.)
• ABB (Switzerland)
• Trilliant Holdings Inc. (U.S.)
• Kamstrup (Denmark)
• E.ON UK plc (U.K.)

Latest Developments in Smart Electricity Meter Market

• In May 2023, Honeywell announced the Next Generation Mobile Module (NXCM), an Advanced Measurement Infrastructure (AMI) solution designed to upgrade existing gas and water meters into smart meters at no additional cost. This module enables wireless connectivity over public cellular networks, enhancing monitoring, security, and data analysis for service providers and consumer
• In November 2022, Landis+Gyr expanded its portfolio in Smart Metering, Grid Edge Intelligence, and Smart Infrastructure, introducing new hardware and software solutions for electricity, heat, gas, and water metering
• In November 2022, Itron, Inc. collaborated with various technology innovators, consultants, service providers, and channel partners to enhance utilities and cities' ability to connect with customers and accelerate energy, water, and smart infrastructure modernization in global markets
• In September 2022, EDMI introduced its brand MIRA, featuring communication-agnostic technology that enables end-to-end visibility and control using industry-standard protocols such as DLMS, IDIS, and LWM2M over multiple bearer services, including 4G, NB-IoT, and RF Mesh
• In February 2022, ABB India launched a new series of electronic power meters and monitoring meters, expanding its digital panel meter market offerings. This addition complements ABB’s existing range of individual multi-function meters and network analyzers, catering to sectors such as healthcare, hospitality, infrastructure, and food and beverage industries

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