Market size, share and growth analysis by technology, phase and end-users, across all major regions and key countries, with forecasts for 2022–2030. The competitive landscape profiles 10+ companies.
The global smart electric meter market was valued at USD 28.35 Bn in 2022 and is projected to reach USD 55.2 Bn by 2030, growing at a CAGR of 10.75%. Europe is the largest regional market and Asia-Pacific is growing fastest.
Efficient cost-savings delivered by the Smart Electric Meters boost the market’s growth.
According to Custom Market Insights (CMI), The Global Smart Electric Meter Market size was estimated at USD 25 Billion in 2021 and is expected to reach USD 28.35 billion in 2022 and is expected to hit around USD 55.2 Billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 10.75% from 2022 to 2030.
The report examines the Smart Electric Meter market’s drivers and restraints and their impact analysis. Also, the report mentions global opportunities prevailing in the Smart Electric Meter market.
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Smart Electric Meter Market Overview
Electric firms no longer need to manually collect readings since smart electricity meters transmit real-time power usage information of a consumer's energy consumption every hour or less to electricity suppliers. As a result, customers who use smart electricity meters have greater control over their electricity consumption and the capacity to obtain accurate real-time data on their energy usage. Additionally, intelligent electricity meters allow customers to select the ideal tariff plan based on their energy usage. Global Smart Electric Meters offer benefits, including managed energy use, strong security against electricity theft, and controlled energy use. For implementing intelligent electric meters, numerous government mandates and investment incentives have been passed in various nations worldwide.
Smart Electric Meter Market: COVID–19 Impact Analysis
The COVID-19 outbreak has disrupted financial and commodity markets all over the world. With over one-third of the world's population staying indoors during the lockdown, the energy sector was also severely impacted, and demand fell precipitously. Planning for a clean and resilient recovery is necessary while the world simultaneously manages the complexity of climate change and the ongoing pandemic. Energy and utility (E&U) firms and customers have access to exciting new options due to smart metering, which is also expected to contribute significantly to the expansion of the low-carbon energy industry.
The manufacturing of smart meters has been put on hold owing to the pandemic, and because of lockdowns, all shipments are blocked, delaying the installation of smart energy meters. Due to the increased urbanization of these developing nations, there is a significant increase in the demand for intelligent and economic grids. The epidemic brought self-control, a sense of self-care, and social withdrawal, which created an opportunity for the market for smart electric meters. Because smart electric meters don't need manual access to read the reading, there is a vast market opportunity for them.
Smart Electric Meter Market: Growth Drivers
Efficient cost-saving
End users can adjust their usage following the electricity tariff rates by using intelligent electric meters to help them monitor their data on electricity consumption. Smart electric meters are clever devices that monitor electrical consumption and remotely connect and disconnect meters, detecting faults, reporting, and analyzing the daily electricity consumption in units. Monitoring voltage and power quality, as well as gathering and storing real-time data in the central system, are other functions that smart meters can help with. As a result, clients may check their energy usage statistics whenever they want and take the necessary actions to reduce their energy expenditures. These enable a decrease in power use during peak hours as consumers may monitor, compute, and analyze their usage to lower energy use during peak hours and effectively manage energy expenditures. Governments and end users have been drawn to the many advantages that intelligent electric meters offer over conventional meters, which has accelerated the deployment of these meters over time.
Rising demand for smart grids
In many underdeveloped nations, a smart grid is just beginning to be implemented. The purpose of this smart grid deployment is to measure the electricity demand. It is anticipated that the necessary sophisticated infrastructure, including innovative electric meters, will be developed.
Smart Electric Meter Market Segmentation Analysis
The Smart Electric Meter market is segmented into technology and phase in our research scope. Due to its wide range of applications across different residential, industrial, utility, and commercial structures, three-phase intelligent meters are expected to increase at a high CAGR through 2030. These devices are widely used in various business settings, such as healthcare, hospitality, education, and logistics. Industrial growth would be favorably influenced by ongoing investments in the expansion of energy-intensive industries and attractive government incentives & schemes for grid infrastructure enhancement. These devices also provide excellent connectivity and high-security features like tamper detection.
Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD 25 Billion |
| Projected Market Size in 2030 | USD 55.2 Billion |
| Market Size in 2022 | USD 28.35 Billion |
| CAGR Growth Rate | 10.75% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Prominent Players | Landis+Gyr (Toshiba Corporation), Schneider Electric, Wasion Group Holdings, Honeywell International Inc., Itron Inc., Siemens, Iskraemeco., Jiangsu Linyang Energy Co. Ltd, Microchip Technology, Aclara, and Others |
| Key Segment | By Technology, Phase, and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Key Insights:
Recent Development
Regional Landscape
Due primarily to China and other emerging nations like India, the Asia-Pacific region currently holds a dominant position in the global smart electric meter market. As a result of these nations' high population densities and growing interest in renewable energy sources, the Asia-Pacific region is expected to expand significantly throughout the forecast period. In addition, due to efforts by nations like Canada and the US to transition to electronic billing systems and offer some tax relief on electricity bills, the North American region is also expected to experience significant growth.
Competitive Landscape
Itron is one of the top manufacturers of standard meters, digital meters, smart meters, data-gathering systems, and utility software. Its intelligent metering systems utilize automated meter reading (AMR) technologies and advanced metering infrastructure (AMI) technologies to monitor electricity, water, and gas usage. The company offers its solutions through its three business segments—electricity, gas, and water. Contracts & agreements and introducing new products are the company's two main strategies.
Prominent Players:
The global Smart Electric Meter market is segmented as follows:
By Technology
By Phase
By End-Users
On the basis of Geography
Updated: July 2026 · Formats: PDF, Excel, PPT
"Asia Pacific" region will lead the global Smart Electric Meter market during the forecast period 2022 to 2030.
The key factors driving the market are Efficient cost-saving, Rising demand for smart grids.
The key players operating in the Smart Electric Meter market are Landis+Gyr (Toshiba Corporation), Schneider Electric, Wasion Group Holdings, Honeywell International Inc., Itron Inc., Siemens, Iskraemeco., Jiangsu Linyang Energy Co. Ltd, Microchip Technology, Aclara.
The global Smart Electric Meter market is expanding growth with a CAGR of approximately 5% during the forecast period (2022 to 2030).
The global Smart Electric Meter market size was valued at USD 10 Billion in 2021 and it is projected to reach around USD 14 Billion by 2030.
Author · Sr. Research Analyst
Ayush Kadam is a Senior Market Research Analyst at Custom Market Insights, with over seven years of experience in syndicated and custom market research. He specializes in market sizing, competitive intelligence, industry trends, forecasting, and strategic insights, helping clients turn complex data into actionable business decisions.
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