+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

Smart Meters Market - Global Industry Size, Share, Trends, Opportunities and Forecast, 2018-2028

  • PDF Icon

    Report

  • 185 Pages
  • September 2023
  • Region: Global
  • TechSci Research
  • ID: 4773055
Free Webex Call
10% Free customization
Description Jump to:
Free Webex Call

Speak directly to the analyst to clarify any post sales queries you may have.

 10% Free customization

This report comes with 10% free customization, enabling you to add data that meets your specific business needs.

Global Smart Meters Market is expected to grow at a rapid CAGR, owing to increased advancements in transmission and distribution infrastructure as well as increased investments in smart grid projects. Increasing government restrictions on the use of water, electricity, and gas along with increasing pressure to conserve natural resources are anticipated to have a positive impact on the global smart meters market over the course of the forecast period.



An electronic device known as a smart meter records electric energy consumption at intervals of no more than an hour and transmits that data to the utility at least once per day for billing and monitoring purposes. Smart meters allow for bidirectional communication between the meter and the central system. Smart meters capture location-specific data, enable utilities to set different consumption rates depending on usage at different times of day and throughout the year. Smart Meters is designed to automatically charge customers when electricity generation is restricted for any reason and must be purchased from another generator company (genco).

Due to the rapid adoption of various technologies in environment, the need for power, or electricity, is currently growing exponentially. As a result, the need for quick power outages has been a concern for both developing and developed nations. The solution was inferred as buyers and individuals monitoring daily usage in respective locations.

Blackout and Utility failure driving the market of smart meters

Power systems are among the most complex systems and are crucial to modern life. The modernization, economic, political, and social aspects are all directly impacted. There are several control and protection techniques needed to operate such systems in a stable mode. Power systems still experience emergency and malfunctioning situations, even though modern systems are outfitted with several protection schemes designed to prevent unforeseen events and power outages. Even a small portion of the system is in danger during the most serious emergencies. If the emergency is not handled properly, the power system is likely to experience cascading failures, potentially leading to a blackout. Thus, to avoid the blackout and utility failure there is a need for smart meters. Smart meters reduce power outages and restore time, and they are useful for both single and multiple events. Smart meter data can be used in mapping and analytical applications to ensure that the electrical maps in the OMS are accurate for the most precise predictions and to help prevent future power outages.

Increase in smart city projects

The demand for smart devices has been driven by the acceleration of cloud computing and analytics research as well as a boom in electronics innovation. The market for smart meters has expanded because of the increasing smart city initiatives being undertaken by governments around the world. The smart grid market has been driven by the expansion of remote power grid monitoring and control, which in turn has increased demand for meters. Some of the government initiatives for the smart city are, in India development of 'Smart City Mission' initiative in 2015. The initiative received USD 28.31 million total investments in 2020, out of which 5,331 projects worth USD 24.31 billion were put out to bid. As of 2020, 2,122 projects totalling USD 4.83 billion dollars were finished, out of 4,540 projects with work orders totaling 19.33 million dollars.

High installation and deployment cost

The cost of installation and deployment for the new smart meters is high. The deployment is hampered by managing network loss and theft as well as the need to replace the outdated conventional metering infrastructure, which is expensive. Such scenarios result in a quick profit from mass rollouts. Problems such as the need for extensive worker training for installations, the need for cyber security, and a lack of consumer awareness all have a negative impact on the market.

Market Segmentation

Global Smart Meters Market can be segmented by Technology, which is further divided into Automatic Meter Reading (AMR), Advanced Metering Infrastructure (AMI), By Type it is further divided into Energy, Water and Gas, By Application it is further divided into Industrial, Commercial, and Residential.

Market Players

Some of the leading players in Global Smart Meters Market are Landis+Gyr Group AG, Itron, Inc., Elster Group GmbH, Sensus USA Inc., Hubbell Incorporated, Diehl Stiftung & Co. KG, Emerson Process Management LLP, Badger Meter, Inc., Flonidan A/S, Schneider Electric SE, etc.

Report Scope:

In this report, the Global Smart Meters Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Global Smart Meters Market, By Technology:

  • Automatic Meter Reading (AMR)
  • Advanced Metering Infrastructure (AMI)

Global Smart Meters Market, By Type:

  • Electric
  • Gas
  • Water

Global Smart Meters Market, By Application:

  • Industrial
  • Commercial
  • Residential

Global Smart Meters Market, By Region:

  • North America
  • United States
  • Mexico
  • Canada
  • Asia-Pacific
  • India
  • Japan
  • South Korea
  • China
  • Australia
  • Europe
  • Germany
  • United Kingdom
  • France
  • Italy
  • Spain
  • South America
  • Brazil
  • Argentina
  • Colombia
  • Peru
  • Chile
  • Middle East
  • Saudi Arabia
  • South Africa
  • UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Smart Meters Market.

Available Customizations:

Global Smart Meters Market report with the given market data, the publisher offers customizations according to a company's specific needs.



This product will be delivered within 1-3 business days.

Table of Contents

1. Product Overview2. Research Methodology3. Impact of COVID-19 on Global Smart Meters Market4. Executive Summary5. Voice of Customers
6. Global Smart Meters Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Technology (Automatic Meter Reading (AMR), Advanced Metering Infrastructure (AMI))
6.2.2. By Type (Energy, Water, and Gas)
6.2.3. By Application (Industrial, Commercial, and Residential)
6.2.4. By Region
6.3. By Company (2022)
6.4. Market Map
7. North America Smart Meters Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Technology
7.2.2. By Type
7.2.3. By Application
7.2.4. By Country
7.3. North America: Country Analysis
7.3.1. United States Smart Meters Market Outlook
7.3.1.1. Market Size & Forecast
7.3.1.1.1. By Value
7.3.1.2. Market Share & Forecast
7.3.1.2.1. By Technology
7.3.1.2.2. By Type
7.3.1.2.3. By Application
7.3.2. Canada Smart Meters Market Outlook
7.3.2.1. Market Size & Forecast
7.3.2.1.1. By Value
7.3.2.2. Market Share & Forecast
7.3.2.2.1. By Technology
7.3.2.2.2. By Type
7.3.2.2.3. By Application
7.3.3. Mexico Smart Meters Market Outlook
7.3.3.1. Market Size & Forecast
7.3.3.1.1. By Value
7.3.3.2. Market Share & Forecast
7.3.3.2.1. By Technology
7.3.3.2.2. By Type
7.3.3.2.3. By Application
8. Asia-Pacific Smart Meters Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Technology
8.2.2. By Type
8.2.3. By Application
8.2.4. By Country
8.3. Asia-Pacific: Country Analysis
8.3.1. China Smart Meters Market Outlook
8.3.1.1. Market Size & Forecast
8.3.1.1.1. By Value
8.3.1.2. Market Share & Forecast
8.3.1.2.1. By Technology
8.3.1.2.2. By Type
8.3.1.2.3. By Application
8.3.2. India Smart Meters Market Outlook
8.3.2.1. Market Size & Forecast
8.3.2.1.1. By Value
8.3.2.2. Market Share & Forecast
8.3.2.2.1. By Technology
8.3.2.2.2. By Type
8.3.2.2.3. By Application
8.3.3. Japan Smart Meters Market Outlook
8.3.3.1. Market Size & Forecast
8.3.3.1.1. By Value
8.3.3.2. Market Share & Forecast
8.3.3.2.1. By Technology
8.3.3.2.2. By Type
8.3.3.2.3. By Application
8.3.4. South Korea Smart Meters Market Outlook
8.3.4.1. Market Size & Forecast
8.3.4.1.1. By Value
8.3.4.2. Market Share & Forecast
8.3.4.2.1. By Technology
8.3.4.2.2. By Type
8.3.4.2.3. By Application
8.3.5. Australia Smart Meters Market Outlook
8.3.5.1. Market Size & Forecast
8.3.5.1.1. By Value
8.3.5.2. Market Share & Forecast
8.3.5.2.1. By Technology
8.3.5.2.2. By Type
8.3.5.2.3. By Application
8.3.6. Singapore Smart Meters Market Outlook
8.3.6.1. Market Size & Forecast
8.3.6.1.1. By Value
8.3.6.2. Market Share & Forecast
8.3.6.2.1. By Technology
8.3.6.2.2. By Type
8.3.6.2.3. By Application
8.3.7. Malaysia Smart Meters Market Outlook
8.3.7.1. Market Size & Forecast
8.3.7.1.1. By Value
8.3.7.2. Market Share & Forecast
8.3.7.2.1. By Technology
8.3.7.2.2. By Type
8.3.7.2.3. By Application
9. Europe Smart Meters Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Technology
9.2.2. By Type
9.2.3. By Application
9.2.4. By Country
9.3. Europe: Country Analysis
9.3.1. Germany Smart Meters Market Outlook
9.3.1.1. Market Size & Forecast
9.3.1.1.1. By Value
9.3.1.2. Market Share & Forecast
9.3.1.2.1. By Technology
9.3.1.2.2. By Type
9.3.1.2.3. By Application
9.3.2. United Kingdom Smart Meters Market Outlook
9.3.2.1. Market Size & Forecast
9.3.2.1.1. By Value
9.3.2.2. Market Share & Forecast
9.3.2.2.1. By Technology
9.3.2.2.2. By Type
9.3.2.2.3. By Application
9.3.3. France Smart Meters Market Outlook
9.3.3.1. Market Size & Forecast
9.3.3.1.1. By Value
9.3.3.2. Market Share & Forecast
9.3.3.2.1. By Technology
9.3.3.2.2. By Type
9.3.3.2.3. By Application
9.3.4. Italy Smart Meters Market Outlook
9.3.4.1. Market Size & Forecast
9.3.4.1.1. By Value
9.3.4.2. Market Share & Forecast
9.3.4.2.1. By Technology
9.3.4.2.2. By Type
9.3.4.2.3. By Application
9.3.5. Spain Smart Meters Market Outlook
9.3.5.1. Market Size & Forecast
9.3.5.1.1. By Value
9.3.5.2. Market Share & Forecast
9.3.5.2.1. By Technology
9.3.5.2.2. By Type
9.3.5.2.3. By Application
9.3.6. Poland Smart Meters Market Outlook
9.3.6.1. Market Size & Forecast
9.3.6.1.1. By Value
9.3.6.2. Market Share & Forecast
9.3.6.2.1. By Technology
9.3.6.2.2. By Type
9.3.6.2.3. By Application
9.3.7. Denmark Smart Meters Market Outlook
9.3.7.1. Market Size & Forecast
9.3.7.1.1. By Value
9.3.7.2. Market Share & Forecast
9.3.7.2.1. By Technology
9.3.7.2.2. By Type
9.3.7.2.3. By Application
10. South America Smart Meters Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Technology
10.2.2. By Type
10.2.3. By Application
10.2.4. By Country
10.3. South America: Country Analysis
10.3.1. Brazil Smart Meters Market Outlook
10.3.1.1. Market Size & Forecast
10.3.1.1.1. By Value
10.3.1.2. Market Share & Forecast
10.3.1.2.1. By Technology
10.3.1.2.2. By Type
10.3.1.2.3. By Application
10.3.2. Argentina Smart Meters Market Outlook
10.3.2.1. Market Size & Forecast
10.3.2.1.1. By Value
10.3.2.2. Market Share & Forecast
10.3.2.2.1. By Technology
10.3.2.2.2. By Type
10.3.2.2.3. By Application
10.3.3. Colombia Smart Meters Market Outlook
10.3.3.1. Market Size & Forecast
10.3.3.1.1. By Value
10.3.3.2. Market Share & Forecast
10.3.3.2.1. By Technology
10.3.3.2.2. By Type
10.3.3.2.3. By Application
10.3.4. Peru Smart Meters Market Outlook
10.3.4.1. Market Size & Forecast
10.3.4.1.1. By Value
10.3.4.2. Market Share & Forecast
10.3.4.2.1. By Technology
10.3.4.2.2. By Type
10.3.4.2.3. By Application
10.3.5. Chile Smart Meters Market Outlook
10.3.5.1. Market Size & Forecast
10.3.5.1.1. By Value
10.3.5.2. Market Share & Forecast
10.3.5.2.1. By Technology
10.3.5.2.2. By Type
10.3.5.2.3. By Application
11. Middle East & Africa Smart Meters Market Outlook
11.1. Market Size & Forecast
11.1.1. By Value
11.2. Market Share & Forecast
11.2.1. By Technology
11.2.2. By Type
11.2.3. By Application
11.2.4. By Country
11.3. Middle East & Africa: Country Analysis
11.3.1. Saudi Arabia Smart Meters Market Outlook
11.3.1.1. Market Size & Forecast
11.3.1.1.1. By Value
11.3.1.2. Market Share & Forecast
11.3.1.2.1. By Technology
11.3.1.2.2. By Type
11.3.1.2.3. By Application
11.3.2. South Africa Smart Meters Market Outlook
11.3.2.1. Market Size & Forecast
11.3.2.1.1. By Value
11.3.2.2. Market Share & Forecast
11.3.2.2.1. By Technology
11.3.2.2.2. By Type
11.3.2.2.3. By Application
11.3.3. UAE Smart Meters Market Outlook
11.3.3.1. Market Size & Forecast
11.3.3.1.1. By Value
11.3.3.2. Market Share & Forecast
11.3.3.2.1. By Technology
11.3.3.2.2. By Type
11.3.3.2.3. By Application
11.3.4. Iraq Smart Meters Market Outlook
11.3.4.1. Market Size & Forecast
11.3.4.1.1. By Value
11.3.4.2. Market Share & Forecast
11.3.4.2.1. By Technology
11.3.4.2.2. By Type
11.3.4.2.3. By Application
11.3.5. Turkey Smart Meters Market Outlook
11.3.5.1. Market Size & Forecast
11.3.5.1.1. By Value
11.3.5.2. Market Share & Forecast
11.3.5.2.1. By Technology
11.3.5.2.2. By Type
11.3.5.2.3. By Application
12. Market Dynamics
12.1. Drivers
12.1.1. Increasing need for energy security
12.1.2. Increased need to monitor energy consumption
12.1.3. High blackouts and utility failures
12.2. Challenges
12.2.1. Shortage of highly skilled workforce
12.2.2. High deployment cost
13. Market Trends & Developments
13.1.1. Increase in smart city development
13.1.2. Increase in developments by key industry players
13.1.3. Increasing government investments
13.1.4. Adoption of electric vehicles
13.1.5. Integration of AI and ML technologies in smart meters
14. Company Profiles
14.1. Landis+Gyr
14.1.1. Business Overview
14.1.2. Key Revenue and Financials (if available)
14.1.3. Recent Developments
14.1.4. Key Personnel
14.1.5. Key Technology/Services
14.2. Itron, Inc.
14.2.1. Business Overview
14.2.2. Key Revenue and Financials (if available)
14.2.3. Recent Developments
14.2.4. Key Personnel
14.2.5. Key Technology/Services
14.3. Elster Group GmbH
14.3.1. Business Overview
14.3.2. Key Revenue and Financials (if available)
14.3.3. Recent Developments
14.3.4. Key Personnel
14.3.5. Key Technology/Services
14.4. Sensus USA Inc.
14.4.1. Business Overview
14.4.2. Key Revenue and Financials (if available)
14.4.3. Recent Developments
14.4.4. Key Personnel
14.4.5. Key Technology/Services
14.5. Hubbell Incorporated
14.5.1. Business Overview
14.5.2. Key Revenue and Financials (if available)
14.5.3. Recent Developments
14.5.4. Key Personnel
14.5.5. Key Technology/Services
14.6. Diehl Stiftung & Co. KG
14.6.1. Business Overview
14.6.2. Key Revenue and Financials (if available)
14.6.3. Recent Developments
14.6.4. Key Personnel
14.6.5. Key Technology/Services
14.7. Emerson Process Management LLP
14.7.1. Business Overview
14.7.2. Key Revenue and Financials (if available)
14.7.3. Recent Developments
14.7.4. Key Personnel
14.7.5. Key Technology/Services
14.8. Badger Meter, Inc.
14.8.1. Business Overview
14.8.2. Key Revenue and Financials (if available)
14.8.3. Recent Developments
14.8.4. Key Personnel
14.8.5. Key Technology/Services
14.9. Flonidan A/S
14.9.1. Business Overview
14.9.2. Key Revenue and Financials (if available)
14.9.3. Recent Developments
14.9.4. Key Personnel
14.9.5. Key Technology/Services
14.10. Schneider Electric SE
14.10.1. Business Overview
14.10.2. Key Revenue and Financials (if available)
14.10.3. Recent Developments
14.10.4. Key Personnel
14.10.5. Key Technology/Services
15. Strategic Recommendations16. About the Publisher & Disclaimer

Companies Mentioned

  • Landis+Gyr
  • Itron, Inc.
  • Elster Group GmbH
  • Sensus USA Inc.
  • Hubbell Incorporated
  • Diehl Stiftung & Co. KG
  • Emerson Process Management LLP
  • Badger Meter, Inc.
  • Flonidan A/S
  • Schneider Electric SE

Table Information

Report AttributeDetails
No. of Pages185
PublishedSeptember 2023
Forecast Period2022 - 2028
Estimated Market Value ( USD ) in 2022 $ 27.62 Billion
Forecasted Market Value ( USD ) by 2028 $ 47.63 Billion
Compound Annual Growth Rate9.3%
Regions CoveredGlobal
No. of Companies Mentioned10

Related Topics

Related Reports

Industrial Non-IC Card Electricity Smart Meter Market Report: Industry Size, Market Shares Data, Latest Trends, Insights, Growth Potential, CAGR Forecasts to 2034 - Product Image

Industrial Non-IC Card Electricity Smart Meter Market Report: Industry Size, Market Shares Data, Latest Trends, Insights, Growth Potential, CAGR Forecasts to 2034

  • Report
  • 153 Pages
  • Global
From
Industrial Non-IC Card Gas Smart Meter Market Report: Industry Size, Market Shares Data, Latest Trends, Insights, Growth Potential, CAGR Forecasts to 2034 - Product Image

Industrial Non-IC Card Gas Smart Meter Market Report: Industry Size, Market Shares Data, Latest Trends, Insights, Growth Potential, CAGR Forecasts to 2034

  • Report
  • 156 Pages
  • Global
From
Global Smart Meter Market, By Components, By Technology, By End User, By Sales Channel, By Region - Market Size, Industry Dynamics, Opportunity Analysis and Forecast for 2024-2032 - Product Image

Global Smart Meter Market, By Components, By Technology, By End User, By Sales Channel, By Region - Market Size, Industry Dynamics, Opportunity Analysis and Forecast for 2024-2032

  • Report
  • 557 Pages
  • Global
From
Smart Meter Market Report 2024 - Product Image

Smart Meter Market Report 2024

  • Report
  • 175 Pages
  • Global
From
Smart Meter Data Management Market Size, Share & Industry Trends Analysis Report By Component, By Application (Electric Meters, Gas Meters and Water Meters), By Deployment Mode (On-premise and Cloud), By Regional Outlook and Forecast, 2023 - 2030 - Product Image

Smart Meter Data Management Market Size, Share & Industry Trends Analysis Report By Component, By Application (Electric Meters, Gas Meters and Water Meters), By Deployment Mode (On-premise and Cloud), By Regional Outlook and Forecast, 2023 - 2030

  • Report
  • 232 Pages
  • Global
From
Copyright © 2002-2024 Research and Markets. All Rights Reserved.