Austin, Sept. 18, 2025 (GLOBE NEWSWIRE) — Smart Meter Market Size & Growth Insights:
According to the SNS Insider,“The Smart Meter Market (Marché des compteurs intelligents) size was worth USD 24.36 billion in 2024 and is expected to reach USD 47.99 billion by 2032 and grow at a CAGR of 8.90% during 2025-2032.”
Government Mandates and Energy Efficiency Policies are Accelerating Market Expansion
To improve energy efficiency, lower consumption, and facilitate smart grid, regulatory bodies in a number of nations are mandating that current power meters be replaced with smart meters. Programs, such as the U.S. Department of Energy’s Grid Modernization Initiative and the European Union’s Energy Efficiency Directive are to blame for utilities being compelled to switch from conventional to smart meters. They are meant to encourage reduced carbon emissions, better energy management, and precise billing. The government-driven trend of enlisting utilities to buy AMI is driving widespread deployment and continuous market expansion in residential, commercial, and industrial applications. The U.S. market is maturing rapidly, spurred by federal programs that support both smart grid rehabilitation and digital infrastructure modernization.
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Leading Market Players with their Product Listed in this Report are:
- Landis+Gyr
- Itron Inc.
- Siemens AG
- Schneider Electric SE
- Honeywell International Inc.
- Sensus
- ABB Ltd.
- General Electric (GE)
- Kamstrup A/S
- EDMI Limited
- Aclara Technologies LLC
- Iskraemeco d.d.
- Wasion Group Holdings Ltd.
- Holley Technology Ltd.
- Elster Group GmbH
- Neptune Technology Group Inc.
- Badger Meter Inc.
- Sagemcom SAS
- ZIV Automation
- Secure Meters
Smart Meter Market Report Scope:
| Report Attributes | Details |
| Market Size in 2024 | USD 24.36 Billion |
| Market Size by 2032 | USD 47.99 Billion |
| CAGR | CAGR of 8.90% From 2025 to 2032 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segmentation | • By Type (Electric Smart Meters, Gas Smart Meters and Water Smart Meters) • By Component (Hardware and Software) • By Technology (Automatic Meter Reading and Advanced Meter Infrastructure) • By End-User (Residential, Commercial and Industrial) |
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Key Industry Segmentation
By Type
In 2024, the Electric Smart Meters held the largest revenue share, accounting for approximately 64.20% of the market as they are essential to monitoring electricity consumption and modernizing the grid.
Water Smart Meters are expected to hold the highest CAGR of 9.62% during the 2024–2032 period due to rising water scarcity and the need to monitor and control consumption effectively.
By Component
Hardware segment accounted for the largest Smart Meter market share of around 77.20% in 2024 due to large-scale deployment of smart metering devices, such as communication modules, gateways, and sensors.
Neuron-Software is expected to be the fastest-growing, achieving a CAGR of 9.09% during the forecast period of 2024–2032, due to rising demand for real-time analytics, predictive maintenance, and demand response solutions.
By Technology
Advanced Meter Infrastructure (AMI) held the largest revenue share of around 56.88% in 2024, and it is projected to expand at the highest CAGR of about 8.94% during 2024-2032, owing to the operability at a distance, two-way communication, and grid automation features that AMI offer.
By End-User
In 2024, the residential segment gained maximum revenue share of about 58.15%, owing to regulatory mandates, large-scale utility deployments and market push, and growing consumer awareness regarding energy.
The industrial segment is predicted to grow the fastest–with a CAGR of 9.54% over the forecast period 2024–2032, due to its high energy consumption and dependency on real-time monitoring of loads.
In 2024, the Market is Led by Asia Pacific Due to Presence of Major Economies
In 2024, Asia Pacific region accounted for the maximum revenue share of around 30.90% and is predicted to witness the highest smart meter market growth during the forecast period with a CAGR of 9.74% during 2024-2032. The growth is driven by the presence of major economies such as China, India and Japan, along with trends, such as rapid urbanization, smart city programs and national grid modernization programs.
The smart meter market in North America is growing at a stable rate owing to the advanced grid infrastructure along with firm regulatory support, in addition to the rise in energy efficiency goals.
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Recent Developments:
- In August 2024, Landis+Gyr secured a contract to deliver over 400,000 residential smart meters (E360 and E450) to Cyprus, integrating their GridStream head-end system to support national energy efficiency and AMI rollout.
- In January 2025, Siemens successfully integrated 950,000 smart meters into Ghana’s national grid using its ECG Metering Management System, earning the “Best Company in Digital Transformation & Innovation” award for boosting interoperability and revenue collection efficiency.
Exclusive Sections of the Report (The USPs):
- SMART METER ACCURACY & RELIABILITY METRICS – helps you evaluate the precision and performance of smart meters versus traditional meters, ensuring confidence in energy billing and monitoring.
- GLOBAL MANUFACTURING & SUPPLY CHAIN STATISTICS – helps you track regional production outputs, component sourcing trends, and raw material dependencies that influence cost and availability.
- FIRMWARE & SOFTWARE INTEROPERABILITY – helps you understand upgrade cycles, OTA adoption rates, and communication protocol compatibility with utility systems for seamless integration.
- CYBERSECURITY & PRIVACY COMPLIANCE – helps you assess vulnerability levels, data encryption standards, and adherence to global privacy regulations, critical for safeguarding consumer trust.
- INNOVATION & R&D STATISTICS – helps you identify patent trends, R&D investments, and emerging technologies driving the evolution of next-generation smart meters.
- DEPLOYMENT PROGRAM METRICS – helps you analyze government-led rollouts, utility adoption progress, and regional/national completion rates, offering insights into market penetration levels.
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