Market Overview
The Smart Electricity Meter Market Industry is estimated to achieve a CAGR (growth rate) of 7.02% during the forecast period.

The Global Smart Electricity Meter Market is being driven by increased demand for effective energy management and the need to reduce energy usage. Growing environmental concerns are pushing utilities and consumers to adopt technologies that allow for more accurate measurement of energy consumption. Government initiatives and regulatory obligations to encourage smart grid technology are also significant drivers of market growth. Ongoing investments in smart infrastructure are helping to upgrade older networks, resulting in more adoption of smart meters in the residential, commercial, and industrial sectors.

These technologies increase data collecting and management, enabling for more accurate forecasting and better consumer involvement. The switch to renewable energy sources opens new opportunities for growth, as smart meters make it easier to integrate solar, wind, and other sustainable energy sources into current infrastructures.

Market Segment insights

  • The smart electricity meter market is divided into four segments: phase, technology, end users, and region.
  • The market is divided into two segments based on phase: single phase and three phase. The Single-Phase segment had the biggest market revenue share of 84.94% in 2023, and it is estimated to grow at the quickest CAGR of 6.70% over the projected timeframe.
  • The market is divided into four technology segments: smart grid, wireless communication, automatic meter reading, and advanced metering infrastructure. Among these, the Advanced Metering Infrastructure category had the highest market revenue share of 67.09% in 2023 and is predicted to increase at a CAGR of 7.11% over the forecast period.
  • The market is divided into four segments based on end users: residential, industrial, commercial, and utilities. The Residential sector had the biggest market revenue share of 80.31% in 2023, and it is estimated to grow at the quickest CAGR of 6.68% over the projected timeframe.


Regional insights
North America is a substantial market for smart electricity meters, owing to high adoption rates of advanced metering infrastructure (AMI) and government incentives that promote energy efficiency and sustainability. The US dominates the industry, with utilities actively deploying smart meters in the residential, commercial, and industrial sectors.

The European Union’s aggressive goals for decreasing carbon emissions and enhancing energy efficiency have resulted in tremendous rise in the deployment of smart power meters. Several countries, notably the United Kingdom, Germany, France, and Spain, are leading the way in smart meter adoption, with some even implementing national rollouts.

The Asia Pacific region is likely to have the most rapid expansion in the worldwide smart electricity meter market. Rapid urbanization, industrialization, and rising energy consumption in nations such as China, India, and Japan are driving up demand for smart meters.

Major Players
Enel X, Landis+Gyr, Oracle, Elster Group, Sensus, RPS Energy, Schneider Electric, Siemens, Kamstrup, Iskraemeco, Metering Technologies, General Electric, Nuri Telecom, Honeywell, and Itron are among the market leaders in smart electricity meters.