Dublin, April 25, 2025 (GLOBE NEWSWIRE) -- The "Smart Meter Market Report 2025" has been added to ResearchAndMarkets.com's offering.
This Smart Meter market report provides a comprehensive analysis of the market's characteristics, size, and growth, including segmentation, regional and country-level breakdowns, competitive landscape, market shares, trends, and strategies. It also tracks historical and forecasted market growth across various geographies.
The smart meter market size has grown strongly in recent years. It will grow from $26.65 billion in 2024 to $29.29 billion in 2025 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to increased mandates for energy efficiency and grid modernization, consumer and utility focus on energy conservation and cost reduction, increasing renewable energy integration, growth in awareness and demand for energy consumption transparency, and reduced manual reading costs.
The smart meter market size is expected to see strong growth in the next few years. It will grow to $42.17 billion in 2029 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to enhanced analytics for predictive maintenance and efficiency, growth in developing regions and urbanization, the need for metering solutions to support electric vehicle (EV) adoption, the demand for comprehensive energy monitoring and optimization, and government policies driving energy efficiency initiatives.
Major trends in the forecast period include utilization of the internet of things (IoT) and artificial intelligence (AI), enhanced integration with smart grid technologies, expansion of advanced metering infrastructure (AMI) systems for improved data collection and analytics, implementation of robust cybersecurity measures to protect smart meter data, and tools and platforms for consumers to monitor and manage their energy usage in real-time.
The smart meter market is poised for growth due to the increasing adoption of renewable energy sources. For instance, as of January 2024, the U.S. Energy Information Administration reported that solar power generation in the U.S. reached 63 billion kilowatt-hours (kWh) in 2023 and is projected to increase by 75% to 286 billion kWh by 2025. This trend underscores how the increasing adoption of renewable energy will propel the smart meter market's expansion.
Key players in the smart meter market are innovating with advanced metering infrastructure and data analytics, such as smart meters equipped with grid-edge capabilities. For instance, in December 2023, Xylem, a US-based industrial machinery manufacturer, introduced the Stratus IQ+ electricity meter. This device integrates grid-edge capabilities to provide comprehensive data, including details on EV charging, to utility companies. Its advanced processor and data features enable thorough system diagnostics and a deeper understanding of customer electricity usage patterns. Moreover, the meter supports the EV market by employing edge computing algorithms to detect battery EV charging activities, assisting utilities in optimizing capacity planning and managing off-peak programs more effectively.
In July 2024, Ancala, a UK-based infrastructure investment management company, completed the acquisition of Solandeo GmbH for an undisclosed sum. This strategic move positions Ancala to secure funding and financial stability to address increasing demand driven by Germany's impending national smart meter rollout mandate, which supports efforts to achieve climate neutrality by 2045. Solandeo GmbH, based in Germany, specializes in manufacturing smart meters and is involved in renewable energy semiconductor production.
Asia-Pacific was the largest region in the smart meter market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the smart meter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the smart meter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
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Report Scope
Markets Covered:
1) By Type: Smart Electric Meter; Smart Gas Meter; Smart Water Meter
2) By Component: Hardware; Software
3) By Technology: Advanced Metering Infrastructure (AMI); Automatic Meter Reading (AMR)
4) By Communication: Radio Frequency (RF); Power Line Communication (PLC); Cellular
5) By End Use: Residential; Commercial; Industrial
Subsegments:
1) By Smart Electric Meter: Advanced Metering Infrastructure (AMI) Electric Meters; Prepaid Electric Meters; Two-Way Communication Electric Meters
2) By Smart Gas Meter: Ultrasonic Gas Meters; Diaphragm Gas Meters; Rotary Gas Meters
3) By Smart Water Meter: Mechanical Smart Water Meters; Electromagnetic Smart Water Meters; Ultrasonic Smart Water Meters
Key Companies Profiled: Siemens AG; Honeywell International Inc; ABB Group; Larsen & Toubro; Sensus Technologies Private Limited
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2025-2029 |
| Estimated Market Value (USD) in 2025 | $29.29 Billion |
| Forecasted Market Value (USD) by 2029 | $42.17 Billion |
| Compound Annual Growth Rate | 9.5% |
| Regions Covered | Global |
The major companies featured in this Smart Meter market report include:
- Siemens AG
- Honeywell International Inc
- ABB Group
- Larsen & Toubro
- Sensus Technologies Private Limited
- Sagemcom SAS
- Shenzhen Kaifa Technology Co. Ltd.
- Itron Inc.
- Landis Gyr Limited
- Wasion Holdings Limited
- Osaki Electric Co. Ltd.
- Hexing Electrical Co. Ltd.
- Badger Meter Inc.
- Pietro Fiorentini Db India Private Limited
- Aclara Technologies LLC
- Kamstrup Metering Solutions Pvt. Ltd.
- Neptune Technology Group Inc.
- Genus Power Infrastructures Ltd.
- Iskraemeco Group
- Jiangsu Linyang Energy Co. Ltd.
- Secure Meters Ltd.
- Suntront Tech Co. Ltd.
- EDMI Limited
- Networked Energy Services Corporation
- Holley Metering Limited
For more information about this report visit https://www.researchandmarkets.com/r/uzb5w8
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