Product Code: GVR-4-68040-621-0
Smart Meter Market Size & Trends:
The global smart meter market size was estimated at USD 27.70 billion in 2024 and is projected to reach USD 49.60 billion by 2030, growing at a CAGR of 9.9% from 2025 to 2030. The industry is primarily driven by the increasing adoption of renewable energy sources and the global push for energy efficiency and decarbonization.
Utilities are deploying smart meters to enable better integration of solar, wind, and other renewables into the grid, while also reducing non-technical losses and improving overall grid resilience. This transition supports government mandates and sustainability goals worldwide and innovation in smart metering technologies, further fueling the smart meter industry expansion.
Advanced metering infrastructure (AMI) systems are a gaining trend in the smart meter industry, offering two-way communication between utilities and consumers. AMI enables real-time data collection, dynamic load management, and enhanced analytics, empowering utilities to optimize grid operations and consumers to manage their energy use more effectively. The expansion of AMI is closely linked with IoT and AI integration, which enhances data processing, predictive maintenance, and demand response capabilities.
Additionally, cybersecurity and data privacy have emerged as critical drivers in the smart meter industry, prompting the implementation of robust security measures to protect sensitive consumer data and grid infrastructure. As smart meters become more interconnected through IoT platforms, utilities and manufacturers are investing in secure communication protocols and advanced software solutions to mitigate cyber risks, ensuring trust and regulatory compliance, thereby driving the market growth.
Furthermore, consumer-centric software platforms and analytics tools are transforming the smart meter industry by enabling real-time monitoring, detailed consumption insights, and personalized energy management. These software advancements facilitate better customer engagement, support demand response programs, and help utilities optimize grid performance. Integration with cloud computing and AI further enhances the value of smart metering systems by providing actionable intelligence for both consumers and utilities.
Moreover, key companies are adopting innovative strategies focused on integrating advanced technologies such as IoT, artificial intelligence, and edge computing to enhance data accuracy, grid-edge capabilities, and real-time analytics. They are expanding their advanced metering infrastructure (AMI) offerings to improve predictive maintenance, support electric vehicle integration, and enable comprehensive energy monitoring and optimization. Such strategies by key companies are expected to drive the market growth in the coming years.
Global Smart Meter Market Report Segmentation
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest technological trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global smart meter market report based on component, technology, type, end-use, and region:
- Smart Meter Component (Revenue, USD Billion, 2018 - 2030)
- Hardware
- Software
- Smart Meter Type (Revenue, USD Billion, 2018 - 2030)
- Smart Electric Meter
- Smart Water Meter
- Smart Gas Meter
- Smart Meter Technology Outlook (Revenue, USD Billion, 2018 - 2030)
- Automatic Meter Reading (AMR)
- Advanced Meter Infrastructure (AMI)
- Smart Meter End-use Outlook (Revenue, USD Billion, 2018 - 2030)
- Residential
- Commercial
- Industrial
- Smart Meter Market Regional Outlook (Revenue, USD Billion, 2018 - 2030)
- North America
- Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- UAE
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Market Definitions
- 1.2.1. Information analysis
- 1.2.2. Market formulation & data visualization
- 1.2.3. Data validation & publishing
- 1.3. Research Scope and Assumptions
- 1.3.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Smart Meter Market Variables, Trends, & Scope
- 3.1. Market Lineage Outlook
- 3.2. Market Dynamics
- 3.2.1. Market Driver Analysis
- 3.2.2. Market Restraint Analysis
- 3.2.3. Deployment Challenge
- 3.3. Smart Meter Market Analysis Tools
- 3.3.1. Deployment Analysis - Porter's
- 3.3.1.1. Bargaining power of the suppliers
- 3.3.1.2. Bargaining power of the buyers
- 3.3.1.3. Threats of substitution
- 3.3.1.4. Threats from new entrants
- 3.3.1.5. Competitive rivalry
- 3.3.2. PESTEL Analysis
- 3.3.2.1. Political landscape
- 3.3.2.2. Economic landscape
- 3.3.2.3. Social landscape
- 3.3.2.4. Technological landscape
- 3.3.2.5. Environmental landscape
- 3.3.2.6. Legal landscape
Chapter 4. Smart Meter Market: Component Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Smart Meter Market: Component Movement Analysis, 2024 & 2030 (USD Billion)
- 4.3. Hardware
- 4.3.1. Hardware Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 4.4. Software
- 4.4.1. Software Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 5. Smart Meter Market: Type Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Smart Meter Market: Type Movement Analysis, 2024 & 2030 (USD Billion)
- 5.3. Smart Electric Meter
- 5.3.1. Smart Electric Meter Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.4. Smart Gas Meter
- 5.4.1. Smart Gas Meter Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.5. Smart Water Meter
- 5.5.1. Smart Water Meter Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 6. Smart Meter Market: Technology Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Smart Meter Market: Technology Movement Analysis, 2024 & 2030 (USD Billion)
- 6.3. Automatic Meter Reading (AMR)
- 6.3.1. Automatic Meter Reading (AMR) Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.4. Advanced Meter Infrastructure (AMI)
- 6.4.1. Advanced Meter Infrastructure (AMI) Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 7. Smart Meter Market: End Use Estimates & Trend Analysis
- 7.1. Segment Dashboard
- 7.2. Smart Meter Market: End Use Movement Analysis, 2024 & 2030 (USD Billion)
- 7.3. Residential
- 7.3.1. Residential Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.4. Commercial
- 7.4.1. Commercial Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.5. Industrial
- 7.5.1. Industrial Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 8. Regional Estimates & Trend Analysis
- 8.1. Smart Meter Market by Region, 2024 & 2030
- 8.2. North America
- 8.2.1. North America Smart Meter Market Estimates & Forecasts, 2018 - 2030, (USD Billion)
- 8.2.2. U.S.
- 8.2.2.1. Smart Meter Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.2.3. Canada
- 8.2.3.1. Canada Smart Meter Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.2.4. Mexico
- 8.2.4.1. Mexico Smart Meter Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.3. Europe
- 8.3.1. Europe Smart Meter Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.3.2. U.K.
- 8.3.2.1. U.K. Smart Meter Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.3.3. Germany
- 8.3.3.1. Germany Smart Meter Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.3.4. France
- 8.3.4.1. France Smart Meter Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.4. Asia Pacific
- 8.4.1. Asia Pacific Smart Meter Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.4.2. China
- 8.4.2.1. China Smart Meter Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.4.3. Japan
- 8.4.3.1. Japan Smart Meter Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.4.4. India
- 8.4.4.1. India Smart Meter Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.4.5. South Korea
- 8.4.5.1. South Korea Smart Meter Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.4.6. Australia
- 8.4.6.1. Australia Smart Meter Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.5. Latin America
- 8.5.1. Latin America Smart Meter Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.5.2. Brazil
- 8.5.2.1. Brazil Smart Meter Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.6. Middle East and Africa
- 8.6.1. Middle East and Africa Smart Meter Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.6.2. Saudi Arabia
- 8.6.2.1. Saudi Arabia Smart Meter Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.6.3. South Africa
- 8.6.3.1. South Africa Smart Meter Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 8.6.4. UAE
- 8.6.4.1. UAE Smart Meter Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 9. Competitive Landscape
- 9.1. Company Categorization
- 9.2. Company Market Positioning
- 9.3. Company Heat Map Analysis
- 9.4. Company Profiles/Listing
- 9.4.1. Siemens AG
- 9.4.1.1. Participant's Overview
- 9.4.1.2. Financial Performance
- 9.4.1.3. Product Benchmarking
- 9.4.1.4. Strategic Initiatives
- 9.4.2. Honeywell International Inc.
- 9.4.2.1. Participant's Overview
- 9.4.2.2. Financial Performance
- 9.4.2.3. Product Benchmarking
- 9.4.2.4. Strategic Initiatives
- 9.4.3. ABB Group
- 9.4.3.1. Participant's Overview
- 9.4.3.2. Financial Performance
- 9.4.3.3. Product Benchmarking
- 9.4.3.4. Strategic Initiatives
- 9.4.4. Larsen & Toubro
- 9.4.4.1. Participant's Overview
- 9.4.4.2. Financial Performance
- 9.4.4.3. Product Benchmarking
- 9.4.4.4. Strategic Initiatives
- 9.4.5. Sensus Technologies Private Limited
- 9.4.5.1. Participant's Overview
- 9.4.5.2. Financial Performance
- 9.4.5.3. Product Benchmarking
- 9.4.5.4. Strategic Initiatives
- 9.4.6. Sagemcom SAS
- 9.4.6.1. Participant's Overview
- 9.4.6.2. Financial Performance
- 9.4.6.3. Product Benchmarking
- 9.4.6.4. Strategic Initiatives
- 9.4.7. Shenzhen Kaifa Technology Co. Ltd.
- 9.4.7.1. Participant's Overview
- 9.4.7.2. Financial Performance
- 9.4.7.3. Product Benchmarking
- 9.4.7.4. Strategic Initiatives
- 9.4.8. Itron Inc.
- 9.4.8.1. Participant's Overview
- 9.4.8.2. Financial Performance
- 9.4.8.3. Product Benchmarking
- 9.4.8.4. Strategic Initiatives
- 9.4.9. Landis+Gyr Limited
- 9.4.9.1. Participant's Overview
- 9.4.9.2. Financial Performance
- 9.4.9.3. Product Benchmarking
- 9.4.9.4. Strategic Initiatives
- 9.4.10. Wasion Holdings Limited
- 9.4.10.1. Participant's Overview
- 9.4.10.2. Financial Performance
- 9.4.10.3. Product Benchmarking
- 9.4.10.4. Strategic Initiatives