The Smart Electricity Meter Market size was valued at USD 10,735.0 Million in 2024. The Application Tracking System industry is projected to grow from USD 11,401.6 Million in 2025 to USD 22,651.44 million by 2035, exhibiting a compound annual growth rate (CAGR) of 7.02% during the forecast period (2025-2035).
Rising Demand for Energy Efficiency and Government Initiatives and Regulations are driving the growth of the Smart Electricity Meter Market.
As per Analyst at MRFR, “The rising demand for energy efficiency is one of the primary drivers behind the global smart electricity meter market. As countries worldwide focus on reducing energy consumption and carbon emissions to meet climate goals, both consumers and utility companies are seeking innovative solutions that can optimize energy use. Smart meters, which provide real-time data on energy consumption, are seen as a key tool in achieving this objective.”
FIGURE 1: SMART ELECTRICITY METER MARKET VALUE (2019-2035) USD Million
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Expansion into Emerging Market
Expansion in emerging markets represents a significant opportunity for the global smart electricity meter market. These regions, which include countries in Asia-Pacific, Latin America, the Middle East, and parts of Africa, are experiencing rapid urbanization, economic growth, and increasing energy demand. As these markets strive to modernize their energy infrastructure, the adoption of smart electricity meters is seen as a key solution to address energy efficiency, grid management, and sustainable energy goals. The growing need for better energy management, improved grid reliability, and regulatory compliance makes emerging markets highly attractive for the deployment of smart metering technologies.
One of the primary drivers for the expansion of smart meters in emerging markets is the need to modernize outdated and inefficient grid systems. In many of these regions, the existing electrical grids are plagued by problems such as high energy losses, power theft, and inadequate infrastructure, which often lead to frequent outages and unreliable service. Smart meters can help address these issues by enabling utilities to monitor energy consumption in real time, detect faults more quickly, and reduce energy losses. For example, in India, the government’s National Smart Grid Mission (NSGM) aims to replace outdated meters with smart metering systems to reduce technical and commercial losses, improve revenue collection, and enhance grid stability.
Based on By Phase, this segment includes Single Phase and Three Phase. The Single-Phase segment dominated the global market in 2024, while the Three Phase is projected to be the fastest–growing segment during the forecast period. A single-phase smart electricity meter is designed for residential and light commercial applications, where electricity is typically supplied through a single-phase power system. This type of meter is most used in homes and small businesses, as it can measure the electrical consumption of appliances and devices that operate on single-phase power. Single-phase meters are widely used due to their simplicity, cost-effectiveness, and ease of installation.
FIGURE 2: SMART ELECTRICITY METER MARKET SHARE BY PHASE 2024 and 2035 (USD Million)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Based on By Technology, this segment includes Smart Grid, Wireless Communication, Automatic Meter Reading and Advanced Metering Infrastructure. The Advanced Metering Infrastructure segment dominated the global market in 2024, while the Wireless Communication is projected to be the fastest–growing segment during the forecast period. Advanced Metering Infrastructure (AMI) is a more sophisticated version of AMR that not only enables remote meter reading but also provides a comprehensive system for monitoring, managing, and analyzing energy usage data in real time. AMI includes a network of smart meters, communication networks, and data management systems that allow utilities to collect detailed information about energy consumption, voltage levels, and other factors that impact the grid.
Based on End Users, this segment includes Residential, Industrial, Commercial, Utility Providers. The Residential segment dominated the global market in 2024, while the Utility Providers is projected to be the fastest–growing segment during the forecast period. The residential segment of the Smart Electricity Meter Market refers to the adoption and installation of smart meters in homes and apartments. These meters are designed to monitor and record electricity consumption in real-time, providing households with detailed insights into their energy usage patterns.
Based on Region, the global Smart Electricity Meter is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America accounted for the largest market share in 2023 and is anticipated to reach during the forecast period. However, Asia-Pacific is projected to grow at the highest CAGR during the forecast period.
North America is a significant region in the global smart electricity meter market, driven by strong adoption rates of advanced metering infrastructure (AMI) and government incentives promoting energy efficiency and sustainability. The United States leads the market, with utilities actively deploying smart meters across residential, commercial, and industrial sectors.
These meters help improve grid reliability, reduce energy theft, and enhance customer engagement through real-time data on energy consumption. Policies at the federal and state levels, such as the U.S. Energy Policy Act and state mandates, have encouraged utilities to adopt smart grid technologies, further driving the demand for smart electricity meters in the region.
FIGURE 3: SMART ELECTRICITY METER MARKET VALUE BY REGION 2024 and 2035 (USD Million)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Further, the countries considered in the scope of the Application Tracking System Market are the US, Canada, Mexico, UK, Germany, France, Italy, Spain, Switzerland, Austria, Belgium, Denmark, Finland, Greece, Hungary, Italy, Luxembourg, Netherlands, Norway, Poland, Portugal, Slovakia, Sweden, Romania, Ireland, China, Japan, Singapore, Malaysia, Indonesia, Philippines, South Korea, Hong Kong, Macau, Singapore, Brunei, India, Australia & New Zealand, South Africa, Egypt, Nigeria, Saudi Arabia, Qatar, United Arab Emirates, Bahrain, Kuwait, and Oman, Brazil, Argentina, Chile, and others.
Many global, regional, and local vendors characterize the Smart Electricity Meter Market. The market is highly competitive, with all the players competing to gain market share. Intense competition, rapid advances in technology, frequent changes in government policies, and environmental regulations are key factors that confront market growth. The vendors compete based on cost, product quality, reliability, and government regulations. Vendors must provide cost-efficient, high-quality products to survive and succeed in an intensely competitive market.
The major players in the market Lufthansa Group, Xylem Inc, Itron, Honeywell, Kamstrup, Networked Energy Services, Siemens, Schneider Electric, Landis+Gyr, Hubbell Incorporated, Osaki Electric Co., Ltd are among others. The Smart Electricity Meter Market is a consolidated market due to increasing competition, acquisitions, mergers and other strategic market developments and decisions to improve operational effectiveness.
May 2022: Networked Energy Services Corporation announced that LINZ NETZ GmbH exercised its option to obtain an additional 30,000 smart meters and supporting communications infrastructure and software from NES. LN has a successful history of utilizing the NES System to provide reliable smart meters to its consumers and achieving high communications SLAs using the Open Smart Grid Protocol (OSGP) standard for power line communications (PLC). This allows LN to automatically and securely gather metering information, update meter configuration and firmware, and monitor power quality parameters with confidence via PLC.
December 2023: Siemens was awarded a new contract to establish a distribution management system and advanced metering infrastructure for North Delta Electricity Distribution Company (NDEDC). As a subsidiary of the state-owned utility Egyptian Electricity Holding Company (EEHC), NDEDC is responsible for the distribution network of the Daqahleya, Damietta and Kafr El-Sheikh governorates and serves about 4.5 million electrical subscribers. Siemens will be implementing an ADMS control center for the Damietta region. This project is funded by the Japanese International Cooperation Agency (JICA) and has a value of about EUR 40 million and is known as Lot 3. Siemens already received an order with a similar scope for Egypt´s Alexandria region in September 2022.
February 2024: Itron and Schneider Electric have announced a collaboration, integrating their intelligent grid and distributed energy resource (DER) management solutions to digitalize the demand and supply of electricity. The integration of Itron’s grid edge intelligence solutions to Schneider’s digital grid solutions aims to enable grid edge data analysis to optimize grid planning and operations to increase grid capacity while deferring infrastructure investments.
April 2024: Landis+Gyr announced the advanced metering project at Louisville Gas and Electric company and Kentucky Utilities Company is now more than 50-percent complete, on the way to delivering benefits, such as interval energy usage data, to customers. Landis+Gyr and its partner Utility Partners of America (UPA), began deploying Grid stream network infrastructure, advanced electric meters and gas meter modules in the fall of 2022 and reached the halfway milestone in February. The project, which includes replacing over a million electric meters and retrofitting more than 300,000 gas meters, is scheduled to be completed by the end of 2025.
| Report Attribute/Metric | Details |
| Market Size 2024 | USD 10,735.0 million |
| Market Size 2025 | USD 11,401.6 million |
| Market Size 2035 | USD 22,651.44 million |
| Compound Annual Growth Rate (CAGR) | 7.02% (2024-2035) |
| Base Year | 2024 |
| Forecast Period | 2025-2035 |
| Historical Data | 2019-2023 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Phase, By Technology, By End User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, and South America |
| Countries Covered | The U.S, Canada, Mexico, Germany, France, UK, China, Japan, India, Australia, South Korea, UAE, and Brazil |
| Key Companies Profiled | XYLEM INC, ITRON, HONEYWELL, KAMSTRUP, NETWORKED ENERGY SERVICES, SIEMENS, SCHNEIDER ELECTRIC, LANDIS+GYR, HUBBELL INCORPORATED, OSAKI ELECTRIC CO., LTD |
| Key Market Opportunities | · Expansion in Emerging Market · Integration with Smart Home Technologies |
| Key Market Dynamics | · Rising Demand for Energy Efficiency · Government Initiatives and Regulations |
Frequently Asked Questions (FAQ) :
USD 10,735.0 Million is the Smart Electricity Meter Market in 2024.
7.02% is the growth rate of the Video market.
South America holds the largest market share in the Global Smart Electricity Meter Market.
XYLEM INC, ITRON, HONEYWELL, KAMSTRUP, NETWORKED ENERGY SERVICES, SIEMENS, SCHNEIDER ELECTRIC, LANDIS+GYR, HUBBELL INCORPORATED, OSAKI ELECTRIC CO., LTD are the prominent players in the Global Smart Electricity Meter Market.
The Single Phase led Smart Electricity Meter Market in 2024.
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Research Analyst Level I In her 3 years of experience in the market research field, she has handled critical cross-domain projects. she has an in-depth knowledge of market estimation & analysis, problem-solving, primary as well as secondary research, and team management.she holds an engineering degree and is an mba professional from a well-known university, capable of evaluating the market and competitive conditions. an exceptional strategist with excellent communication skills and a passion for delivering cutting-edge & practical insights for the market. proficient in multi-tasking, and can successfully deal with competing demands, while maintaining complete confidentiality. generated business through active client and project development, networking, and high-quality responses. her knowledge and skills have helped in making solid business decisions, securing funding from investors, and avoiding business failures.
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