Table of Content

1 Introduction 10
1.1 Industry Definition and Research Scope 10
1.1.1 Industry Definition 10
1.1.2 Research Scope 11
1.2 Research Methodology 14
1.2.1 Overview of Market Research Methodology 14
1.2.2 Market Assumption 15
1.2.3 Secondary Data 15
1.2.4 Primary Data 15
1.2.5 Data Filtration and Model Design 16
1.2.6 Market Size/Share Estimation 17
1.2.7 Research Limitations 18
1.3 Executive Summary 19

2 Market Overview and Dynamics 22
2.1 Market Size and Forecast 22
2.1.1 Impact of COVID-19 on World Economy 24
2.1.2 Impact of COVID-19 on the Market 27
2.1.3 Impact of Russia-Ukraine Conflict: War Slows Economic Recovery 29
2.2 Major Growth Drivers 33
2.3 Market Restraints and Challenges 38
2.4 Emerging Opportunities and Market Trends 41
2.5 Porter’s Fiver Forces Analysis 45

3 Segmentation of Global Market by Component 49
3.1 Market Overview by Component 49
3.2 Hardware 51
3.3 Software & Service 52

4 Segmentation of Global Market by Technology 53
4.1 Market Overview by Technology 53
4.2 Automatic Meter Reading (AMR) 55
4.3 Advanced Metering Infrastructure (AMI) 56

5 Segmentation of Global Market by Communication Type 57
5.1 Market Overview by Communication Type 57
5.2 Cellular Technology 59
5.3 Radio Frequency (RF) 60
5.4 Power Line Communication (PLC) 61
5.5 Other Communication Types 62

6 Segmentation of Global Market by Phase 63
6.1 Market Overview by Phase 63
6.2 Single-phase Smart Meters 65
6.3 Three-phase Smart Meters 66

7 Segmentation of Global Market by Specification 67
7.1 Market Overview by Specification 67
7.2 SMETS1 Smart Meters 69
7.3 SMETS2 Smart Meters 70

8 Segmentation of Global Market by Application 71
8.1 Market Overview by Application 71
8.2 Smart Electricity Meters 75
8.3 Smart Gas Meters 77
8.4 Smart Water Meters 79

9 Segmentation of Global Market by End Use 81
9.1 Market Overview by End Use 81
9.2 Residential Use 83
9.3 Commercial Use 84
9.4 Industrial Use 85

10 Segmentation of Global Market by Region 86
10.1 Geographic Market Overview 2022-2032 86
10.2 North America Market 2022-2032 by Country 90
10.2.1 Overview of North America Market 90
10.2.2 U.S. 94
10.2.3 Canada 98
10.2.4 Mexico 100
10.3 European Market 2022-2032 by Country 102
10.3.1 Overview of European Market 102
10.3.2 Germany 106
10.3.3 U.K. 108
10.3.4 France 110
10.3.5 Spain 112
10.3.6 Italy 114
10.3.7 Russia 116
10.3.8 Rest of European Market 118
10.4 Asia-Pacific Market 2022-2032 by Country 120
10.4.1 Overview of Asia-Pacific Market 120
10.4.2 Japan 124
10.4.3 China 127
10.4.4 Australia 129
10.4.5 India 131
10.4.6 South Korea 133
10.4.7 Rest of APAC Region 135
10.5 South America Market 2022-2032 by Country 137
10.5.1 Argentina 140
10.5.2 Brazil 142
10.5.3 Chile 144
10.5.4 Rest of South America Market 146
10.6 MEA Market 2022-2032 by Country 147
10.6.1 UAE 150
10.6.2 Saudi Arabia 152
10.6.3 South Africa 154
10.6.4 Other National Markets 156

11 Competitive Landscape 157
11.1 Overview of Key Vendors 157
11.2 New Product Launch, Partnership, Investment, and M&A 160
11.3 Company Profiles 161
AEM 161
Aichi Tokei Denki Co., Ltd. 163
Apator SA 164
Azbil Kimmon Co., Ltd. (Azbil Corporation) 165
Badger Meter, Inc. 166
Diehl Stiftung & Co. KG 167
EDMI 168
Elster Group GmbH (Honeywell International Inc.) 169
Hexing Electric Company Ltd. 170
Holley Technology Ltd. 171
Iskraemeco 172
Itron Inc. 173
Jiangsu Linyang Energy Co., Ltd. 174
Kamstrup AS 175
Landis+Gyr Group AG 176
Neptune Technology Group Inc. 177
Ningbo Sanxing Electric Co., Ltd. 178
Pietro Fiorentini SpA 179
Sagemcom SAS 180
Schneider Electric SA 181
Sensus Usa Inc. (Xylem Inc.) 182
Siemens AG 183
Wasion Holdings Limited 184
Yazaki Corporation 185
Zenner International GmbH & Co. KG 186
RELATED REPORTS 187



List of Figures

List of Figures:

Figure 1. Research Method Flow Chart 14
Figure 2. Bottom-up Approach and Top-down Approach for Market Estimation 17
Figure 3. Global Market Forecast in Optimistic, Conservative and Balanced Perspectives, 2022-2032 19
Figure 4. Global Smart Meters Market by Value, 2022-2032, $ mn 22
Figure 5. Global Smart Meters Market by Volume, 2022-2032, million units 23
Figure 6. Impact of COVID-19 on Business 27
Figure 7. Primary Drivers and Impact Factors of Global Smart Meters Market 33
Figure 8. Forecast of Middle-class Population by Region, 2015-2030, million 36
Figure 9. Worldwide Smart Grid Technology Market, 2022-2028, $ billion 36
Figure 10. Drivers for Smart Technology Investment 37
Figure 11. Primary Restraints and Impact Factors of Global Smart Meters Market 38
Figure 12. Investment Opportunity Analysis 42
Figure 13. Porter’s Fiver Forces Analysis of Global Smart Meters Market 45
Figure 14. Breakdown of Global Smart Meters Market by Component, 2022-2032, % of Revenue 50
Figure 15. Global Addressable Market Cap in 2023-2032 by Component, Value ($ mn) and Share (%) 50
Figure 16. Global Smart Meters Market by Component: Hardware, 2022-2032, $ mn 51
Figure 17. Global Smart Meters Market by Component: Software & Service, 2022-2032, $ mn 52
Figure 18. Breakdown of Global Smart Meters Market by Technology, 2022-2032, % of Sales Revenue 54
Figure 19. Global Addressable Market Cap in 2023-2032 by Technology, Value ($ mn) and Share (%) 54
Figure 20. Global Smart Meters Market by Technology: Automatic Meter Reading (AMR), 2022-2032, $ mn 55
Figure 21. Global Smart Meters Market by Technology: Advanced Metering Infrastructure (AMI), 2022-2032, $ mn 56
Figure 22. Breakdown of Global Smart Meters Market by Communication Type, 2022-2032, % of Sales Revenue 58
Figure 23. Global Addressable Market Cap in 2023-2032 by Communication Type, Value ($ mn) and Share (%) 58
Figure 24. Global Smart Meters Market by Communication Type: Cellular Technology, 2022-2032, $ mn 59
Figure 25. Global Smart Meters Market by Communication Type: Radio Frequency (RF), 2022-2032, $ mn 60
Figure 26. Global Smart Meters Market by Communication Type: Power Line Communication (PLC), 2022-2032, $ mn 61
Figure 27. Global Smart Meters Market by Communication Type: Other Communication Types, 2022-2032, $ mn 62
Figure 28. Breakdown of Global Smart Meters Market by Phase, 2022-2032, % of Revenue 64
Figure 29. Global Addressable Market Cap in 2023-2032 by Phase, Value ($ mn) and Share (%) 64
Figure 30. Global Smart Meters Market by Phase: Single-phase Smart Meters, 2022-2032, $ mn 65
Figure 31. Global Smart Meters Market by Phase: Three-phase Smart Meters, 2022-2032, $ mn 66
Figure 32. Breakdown of Global Smart Meters Market by Specification, 2022-2032, % of Revenue 68
Figure 33. Global Addressable Market Cap in 2023-2032 by Specification, Value ($ mn) and Share (%) 68
Figure 34. Global Smart Meters Market by Specification: SMETS1 Smart Meters, 2022-2032, $ mn 69
Figure 35. Global Smart Meters Market by Specification: SMETS2 Smart Meters, 2022-2032, $ mn 70
Figure 36. Breakdown of Global Smart Meters Market by Application, 2022-2032, % of Sales Value 71
Figure 37. Global Addressable Market Cap in 2023-2032 by Application, Value ($ mn) and Share (%) 72
Figure 38. Breakdown of Global Smart Meters Market by Application, 2022-2032, % of Sales Volume 73
Figure 39. Global Addressable Market Cap in 2023-2032 by Application, Volume (million units) and Share (%) 74
Figure 40. Global Smart Meters Market by Application: Smart Electricity Meters, 2022-2032, $ mn 75
Figure 41. Global Smart Meters Market by Application: Smart Electricity Meters, 2022-2032, million units 76
Figure 42. Global Smart Meters Market by Application: Smart Gas Meters, 2022-2032, $ mn 77
Figure 43. Global Smart Meters Market by Application: Smart Gas Meters, 2022-2032, million units 78
Figure 44. Global Smart Meters Market by Application: Smart Water Meters, 2022-2032, $ mn 79
Figure 45. Global Smart Meters Market by Application: Smart Water Meters, 2022-2032, million units 80
Figure 46. Breakdown of Global Smart Meters Market by End Use, 2022-2032, % of Revenue 81
Figure 47. Global Addressable Market Cap in 2023-2032 by End Use, Value ($ mn) and Share (%) 82
Figure 48. Global Smart Meters Market by End Use: Residential Use, 2022-2032, $ mn 83
Figure 49. Global Smart Meters Market by End Use: Commercial Use, 2022-2032, $ mn 84
Figure 50. Global Smart Meters Market by End Use: Industrial Use, 2022-2032, $ mn 85
Figure 51. Global Market Snapshot by Region 86
Figure 52. Geographic Spread of Worldwide Smart Meters Market, 2022-2032, % of Sales Revenue 87
Figure 53. Global Addressable Market Cap in 2023-2032 by Region, Value ($ mn) and Share (%) 88
Figure 54. North American Smart Meters Market, 2022-2032, $ mn 91
Figure 55. Breakdown of North America Smart Meters Market by Country, 2022 and 2032, % of Revenue 92
Figure 56. Contribution to North America 2023-2032 Cumulative Market by Country, Value ($ mn) and Share (%) 93
Figure 57. U.S. Smart Meters Market, 2022-2032, $ mn 95
Figure 58. U.S. Annual Investment on Smart Grid, 2014-2026, $ bn 97
Figure 59. U.S. Smart Electric Meter Deployment by State, 2018, % of Customers 97
Figure 60. Canada Smart Meters Market, 2022-2032, $ mn 98
Figure 61. Smart Meters Market in Mexico, 2022-2032, $ mn 100
Figure 62. European Smart Meters Market, 2022-2032, $ mn 103
Figure 63. Breakdown of European Smart Meters Market by Country, 2022 and 2032, % of Revenue 104
Figure 64. Contribution to Europe 2023-2032 Cumulative Market by Country, Value ($ mn) and Share (%) 105
Figure 65. Smart Meters Market in Germany, 2022-2032, $ mn 106
Figure 66. Smart Meters Market in U.K., 2022-2032, $ mn 108
Figure 67. Smart Meters Market in France, 2022-2032, $ mn 110
Figure 68. Smart Meters Market in Spain, 2022-2032, $ mn 112
Figure 69. Smart Meters Market in Italy, 2022-2032, $ mn 114
Figure 70. Smart Meters Market in Russia, 2022-2032, $ mn 116
Figure 71. Smart Meters Market in Rest of Europe, 2022-2032, $ mn 118
Figure 72. Asia-Pacific Smart Meters Market, 2022-2032, $ mn 121
Figure 73. Breakdown of APAC Smart Meters Market by Country, 2022 and 2032, % of Revenue 121
Figure 74. Contribution to APAC 2023-2032 Cumulative Market by Country, Value ($ mn) and Share (%) 123
Figure 75. Smart Meters Market in Japan, 2022-2032, $ mn 125
Figure 76. Smart Meters Market in China, 2022-2032, $ mn 127
Figure 77. Smart Meters Market in Australia, 2022-2032, $ mn 129
Figure 78. Smart Meters Market in India, 2022-2032, $ mn 131
Figure 79. Smart Meters Market in South Korea, 2022-2032, $ mn 133
Figure 80. Smart Meters Market in Rest of APAC, 2022-2032, $ mn 135
Figure 81. South America Smart Meters Market, 2022-2032, $ mn 138
Figure 82. Breakdown of South America Smart Meters Market by Country, 2022 and 2032, % of Revenue 138
Figure 83. Contribution to South America 2023-2032 Cumulative Market by Country, Value ($ mn) and Share (%) 139
Figure 84. Smart Meters Market in Argentina, 2022-2032, $ mn 140
Figure 85. Smart Meters Market in Brazil, 2022-2032, $ mn 142
Figure 86. Smart Meters Market in Chile, 2022-2032, $ mn 144
Figure 87. Smart Meters Market in Rest of South America, 2022-2032, $ mn 146
Figure 88. Smart Meters Market in Middle East and Africa (MEA), 2022-2032, $ mn 148
Figure 89. Breakdown of MEA Smart Meters Market by Country, 2022 and 2032, % of Revenue 148
Figure 90. Contribution to MEA 2023-2032 Cumulative Market by Country, Value ($ mn) and Share (%) 149
Figure 91. Smart Meters Market in UAE, 2022-2032, $ mn 150
Figure 92. Smart Meters Market in Saudi Arabia, 2022-2032, $ mn 152
Figure 93. Smart Meters Market in South Africa, 2022-2032, $ mn 154
Figure 94. Growth Stage of Global Smart Meters Industry over the Forecast Period 157

List of Tables

List of Tables:

Table 1. Snapshot of Global Smart Meters Market in Balanced Perspective, 2022-2032 20
Table 2. World Economic Outlook, 2021-2031 25
Table 3. World Economic Outlook, 2021-2023 26
Table 4. Scenarios for Economic Impact of Ukraine Crisis 30
Table 5. Main Product Trends and Market Opportunities in Global Smart Meters Market 41
Table 6. Global Smart Meters Market by Component, 2022-2032, $ mn 49
Table 7. Global Smart Meters Market by Technology, 2022-2032, $ mn 53
Table 8. Global Smart Meters Market by Communication Type, 2022-2032, $ mn 57
Table 9. Global Smart Meters Market by Phase, 2022-2032, $ mn 63
Table 10. Global Smart Meters Market by Specification, 2022-2032, $ mn 67
Table 11. Global Smart Meters Market by Application by Value, 2022-2032, $ mn 71
Table 12. Global Smart Meters Market by Application by Volume, 2022-2032, million units 73
Table 13. Global Smart Meters Market by End Use, 2022-2032, $ mn 81
Table 14. Global Smart Meters Market by Region, 2022-2032, $ mn 87
Table 15. Leading National Smart Meters Market, 2022 and 2032, $ mn 89
Table 16. North America Smart Meters Market by Country, 2022-2032, $ mn 92
Table 17. U.S. Smart Meters Market by Technology, 2022-2032, $ mn 96
Table 18. U.S. Smart Meters Market by Application, 2022-2032, $ mn 96
Table 19. U.S. Smart Meters Market by End Use, 2022-2032, $ mn 96
Table 20. Canada Smart Meters Market by Technology, 2022-2032, $ mn 99
Table 21. Canada Smart Meters Market by Application, 2022-2032, $ mn 99
Table 22. Canada Smart Meters Market by End Use, 2022-2032, $ mn 99
Table 23. Mexico Smart Meters Market by Technology, 2022-2032, $ mn 101
Table 24. Mexico Smart Meters Market by Application, 2022-2032, $ mn 101
Table 25. Mexico Smart Meters Market by End Use, 2022-2032, $ mn 101
Table 26. Europe Smart Meters Market by Country, 2022-2032, $ mn 105
Table 27. Germany Smart Meters Market by Technology, 2022-2032, $ mn 107
Table 28. Germany Smart Meters Market by Application, 2022-2032, $ mn 107
Table 29. Germany Smart Meters Market by End Use, 2022-2032, $ mn 107
Table 30. U.K. Smart Meters Market by Technology, 2022-2032, $ mn 109
Table 31. U.K. Smart Meters Market by Application, 2022-2032, $ mn 109
Table 32. U.K. Smart Meters Market by End Use, 2022-2032, $ mn 109
Table 33. France Smart Meters Market by Technology, 2022-2032, $ mn 111
Table 34. France Smart Meters Market by Application, 2022-2032, $ mn 111
Table 35. France Smart Meters Market by End Use, 2022-2032, $ mn 111
Table 36. Spain Smart Meters Market by Technology, 2022-2032, $ mn 113
Table 37. Spain Smart Meters Market by Application, 2022-2032, $ mn 113
Table 38. Spain Smart Meters Market by End Use, 2022-2032, $ mn 113
Table 39. Italy Smart Meters Market by Technology, 2022-2032, $ mn 115
Table 40. Italy Smart Meters Market by Application, 2022-2032, $ mn 115
Table 41. Italy Smart Meters Market by End Use, 2022-2032, $ mn 115
Table 42. Russia Smart Meters Market by Technology, 2022-2032, $ mn 117
Table 43. Russia Smart Meters Market by Application, 2022-2032, $ mn 117
Table 44. Russia Smart Meters Market by End Use, 2022-2032, $ mn 117
Table 45. Smart Meters Market in Rest of Europe by Country, 2022-2032, $ mn 119
Table 46. APAC Smart Meters Market by Country, 2022-2032, $ mn 122
Table 47. Japan Smart Meters Market by Technology, 2022-2032, $ mn 126
Table 48. Japan Smart Meters Market by Application, 2022-2032, $ mn 126
Table 49. Japan Smart Meters Market by End Use, 2022-2032, $ mn 126
Table 50. China Smart Meters Market by Technology, 2022-2032, $ mn 128
Table 51. China Smart Meters Market by Application, 2022-2032, $ mn 128
Table 52. China Smart Meters Market by End Use, 2022-2032, $ mn 128
Table 53. Australia Smart Meters Market by Technology, 2022-2032, $ mn 130
Table 54. Australia Smart Meters Market by Application, 2022-2032, $ mn 130
Table 55. Australia Smart Meters Market by End Use, 2022-2032, $ mn 130
Table 56. India Smart Meters Market by Technology, 2022-2032, $ mn 132
Table 57. India Smart Meters Market by Application, 2022-2032, $ mn 132
Table 58. India Smart Meters Market by End Use, 2022-2032, $ mn 132
Table 59. South Korea Smart Meters Market by Technology, 2022-2032, $ mn 134
Table 60. South Korea Smart Meters Market by Application, 2022-2032, $ mn 134
Table 61. South Korea Smart Meters Market by End Use, 2022-2032, $ mn 134
Table 62. Smart Meters Market in Rest of APAC by Country/Region, 2022-2032, $ mn 136
Table 63. South America Smart Meters Market by Country, 2022-2032, $ mn 139
Table 64. Argentina Smart Meters Market by Technology, 2022-2032, $ mn 141
Table 65. Argentina Smart Meters Market by Application, 2022-2032, $ mn 141
Table 66. Argentina Smart Meters Market by End Use, 2022-2032, $ mn 141
Table 67. Brazil Smart Meters Market by Technology, 2022-2032, $ mn 143
Table 68. Brazil Smart Meters Market by Application, 2022-2032, $ mn 143
Table 69. Brazil Smart Meters Market by End Use, 2022-2032, $ mn 143
Table 70. Chile Smart Meters Market by Technology, 2022-2032, $ mn 145
Table 71. Chile Smart Meters Market by Application, 2022-2032, $ mn 145
Table 72. Chile Smart Meters Market by End Use, 2022-2032, $ mn 145
Table 73. MEA Smart Meters Market by Country, 2022-2032, $ mn 149
Table 74. UAE Smart Meters Market by Technology, 2022-2032, $ mn 151
Table 75. UAE Smart Meters Market by Application, 2022-2032, $ mn 151
Table 76. UAE Smart Meters Market by End Use, 2022-2032, $ mn 151
Table 77. Saudi Arabia Smart Meters Market by Technology, 2022-2032, $ mn 153
Table 78. Saudi Arabia Smart Meters Market by Application, 2022-2032, $ mn 153
Table 79. Saudi Arabia Smart Meters Market by End Use, 2022-2032, $ mn 153
Table 80. South Africa Smart Meters Market by Technology, 2022-2032, $ mn 155
Table 81. South Africa Smart Meters Market by Application, 2022-2032, $ mn 155
Table 82. South Africa Smart Meters Market by End Use, 2022-2032, $ mn 155
Table 83. AEM: Company Snapshot 161
Table 84. AEM: Business Segmentation 162
Table 85. AEM: Product Portfolio 162