Austin, May 29, 2026 (GLOBE NEWSWIRE) -- Smart Meter Market Size & Growth Outlook:
As per the SNS Insider, “The value of the global Smart Meter Market Size stood at USD 26.92 billion in 2025, with forecasts suggesting that its valuation will increase to USD 63.15 billion in 2035, exhibiting a CAGR of 8.90% for 2026-2035.”
Government Smart Grid Mandates to Boost Market Growth Globally
The regulation regarding the upgrading of smart grids, energy efficiency, and digitalization of utilities has been one of the important factors that led to the growth of the Smart Meters industry. Renewable energy usage, electric vehicle charging station installation, and distributed energy system development are some of the factors that have resulted in a greater requirement for advanced meters capable of controlling the smart grid functions. The conventional meters are not able to accomplish such tasks. The utilities sector makes use of smart meters to save costs and avoid any power outages.
Smart Meter Market Size and Growth:
- Market Size in 2025: 26.92 Billion
- Market Size by 2035: 63.15 Billion
- CAGR: 8.90% during 2026–2035
- Base Year: 2025
- Forecast Period: 2026–2035
- Historical Data: 2022–2024
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Leading Market Players with their Product Listed in this Report are:
- Landis+Gyr Group AG
- Itron Inc.
- Siemens AG
- Honeywell International Inc.
- Kamstrup AS
- Schneider Electric SE
- Sensus
- Elster Group GmbH
- Jiangsu Linyang Energy Co. Ltd.
- Wasion Group Holdings Ltd.
- Aclara Technologies LLC
- Energizer Holdings Inc.
- Murata Manufacturing Co. Ltd.
- Diehl Metering GmbH
- Holley Technology Ltd.
- Shenzhen Kaifa Technology Co. Ltd.
- ADD GRUP
- Arad Group
- Neptune Technology Group Inc.
- Master Meter Inc.
Smart Meter Market Report Scope:
| Report Attributes | Details |
| Base Year | 2025 |
| Forecast Period | 2026-2035 |
| Historical Data | 2022-2024 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segmentation | • By Component (Hardware, Software, Services) • By Type (Electric Smart Meters, Water Smart Meters, Gas Smart Meters) • By Technology (Advanced Metering Infrastructure, Automatic Meter Reading) • By Communication Technology (Radio Frequency, Power Line Communication, Cellular) • By End-User (Residential, Commercial, Industrial) |
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Key Segmentation Analysis:
By Component
Hardware dominated with approximately 77.20% of market share in 2025 due to the large-scale deployment of smart meter devices, communication modules, data concentrators, and network infrastructure across utility networks globally. Software is expected to grow at the fastest CAGR of approximately 9.09% from 2026 to 2035 due to increased demand for software such as AI-based analytics, MDM systems, demand response, and predictive grid monitoring software.
By Type
Electric Smart Meters dominated with approximately 64.20% of revenues in 2025 due to their application in utilities industries such as residential, commercial, and industrial. Water Smart Meters are expected to grow at the highest CAGR of 9.62% from 2026 to 2035 due to rising concerns regarding water shortage globally.
By Technology
Advanced Metering Infrastructure dominated with approximately 56.88% market share in 2025 and is simultaneously the fastest-growing technology at approximately 8.94% CAGR as advanced metering infrastructure allows bidirectional interaction between utilities and smart meters.
Regional Insights:
The Asia Pacific region led the world market for Smart Metering in 2025 with around 30.90% of global revenue and has shown the highest growth rate of 9.74% as the CAGR in the next decade until 2035 due to the influence of the economies of China, India, and Japan, as well as urbanization and smart cities and smart grid mandates. In China, it is the national mandate of its two state-owned energy enterprises, State Grid and Southern Power Grid, to use smart electricity meters in billions.
North America holds the status of a developed as well as expanding smart meter market, dominated by the US which accounts for nearly 80% of revenues generated from North America. More than 60% of US residential properties have adopted smart meters, and this sector has seen development through AMI second-generation programs.
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Recent Developments:
- 2026: Itron Inc. expanded its strategic AI collaboration with Microsoft to enhance grid-edge intelligence and utility analytics capabilities for advanced smart metering and energy management systems.
- 2026: Siemens AG introduced the next evolution of its Gridscale X platform featuring AI-powered grid planning and advanced utility software capabilities supporting autonomous smart grid operations.
Exclusive Sections of the Smart Meter Market Report (The USPs):
- PRICING ANALYSIS & INSTALLATION COST METRICS – helps you understand pricing trends by smart meter type, installation cost structures, communication technology pricing dynamics, and long-term pricing forecasts across residential, commercial, and industrial applications.
- PRICE BENCHMARKING & COMPETITIVE PRICING METRICS – helps you evaluate pricing strategies and benchmarking analysis of leading smart meter manufacturers based on technology capabilities, communication infrastructure, deployment scale, and service offerings.
- REGULATORY COMPLIANCE & SMART GRID POLICY METRICS – helps you analyze smart grid regulations, energy efficiency mandates, regional regulatory trends, and evolving data privacy and utility cybersecurity compliance frameworks impacting smart meter deployment globally.
- UTILITY DIGITALIZATION & ENERGY MANAGEMENT METRICS – helps you assess residential smart meter penetration, industrial and commercial energy monitoring adoption, and utility modernization initiatives improving energy efficiency and grid intelligence.
- TIME-OF-USE PRICING & RENEWABLE GRID INTEGRATION METRICS – helps you uncover trends in time-of-use pricing program adoption, renewable energy integration, demand response optimization, and grid stability enhancement supported by advanced metering infrastructure.
- EV CHARGING & CONNECTED ENERGY INFRASTRUCTURE METRICS – helps you identify opportunities in EV charging infrastructure integration, smart energy management systems, connected utility networks, and advanced communication technologies supporting next-generation smart grids.
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