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Smart Electricity Meters Market Size, Share & Trends Analysis Report By Phase (Single-phase, Three-phase), By End-use (Residential, Commercial, Industrial), By Region, And Segment Forecasts, 2023 - 2030

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  • 119 Pages
  • May 2023
  • Region: Global
  • Grand View Research
  • ID: 5010938
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Smart Electricity Meters Market Growth & Trends

The global smart electricity meters market size is expected to reach USD 21.81 billion by 2030. The market is anticipated to expand at a CAGR of 7.6% from 2023 to 2030. The substantial growth prospects of the smart electricity meter market can be attributed to the significant promotion of green energy, efficient transmission facilities, and integrated presence across the value chain, especially for sharing real-time information about usage and tariff rates. These factors are perceived to offer the market a competitive advantage. Regional markets, such as Europe and the Asia Pacific, are expected to emerge as significant attractive markets.

Technological innovations are occurring at a fast pace in the APAC region. This generates the need for refreshing the existing technology to drive efficiency. Companies are spending more to update their existing infrastructure with advanced technologies such as the Internet of Things. Companies use IoT-based smart meters to optimize the meter reading process and offer accurate billing based on consumption. For instance, in August 2022, Adani Electricity invested INR 500 crore for the smart meter installation in Mumbai. The power discom, a unit of Adani Transmission, plans to install 7 lakh smart meters as part of the first phase target. The remaining 20 lakh consumers are expected to receive smart meters by the end of the financial year 2025. Installing the remaining smart meters will occur in multiple phases over the coming years.

The smart electricity meter is projected to lower the peak electricity demand as they enable end-users to monitor power consumption easily and take necessary measures to reduce overconsumption. This is further expected to lessen the stress on power generation plants, thereby allowing efficient resource usage and optimization. Government directives mandating smart electricity meters and smart grids to increase energy efficiency are expected to emerge as key market drivers. For instance, in August 2021, the India power Ministry engaged all central ministries and departments to shift towards prepaid smart electricity meters. The power ministry has regulated an advisory to all central ministries of the government to guide organizations under their administrative control to safeguard and shift towards prepaid smart meters on a priority basis.

Further, smart electricity meter is anticipated to offer energy suppliers several advantages, such as reducing reaction time to resolve power outages and hardware faults and enhanced customer service delivery by providing convenient remote meter readings. Additionally, attentiveness to environmental protection and associated proceedings & policies are estimated to control the surging levels of radiation emissions.

Smart Electricity Meters Market Report Highlights

  • The residential segment led the market in 2022, accounting for over 88% share of the global revenue owing to continual expansion in residential establishments. Additionally, Increased awareness among consumers about the benefits of smart meters has contributed to their growth
  • The single-phase segment held the largest revenue share of over 90% in 2022. ingle-phase smart meters are less expensive than their three-phase counterparts, making them more affordable for households. They can help households save money on their energy bills by providing real-time information about energy usage
  • A smart grid act as an automated monitoring and controlling system, emerging as an improved electrical network over the conventional one. Real-time pricing and consumption data display are the core functionalities provided by smart electricity meter
  • The rapidly increasing investments in smart city projects and the development of smart grid technologies in emerging countries across the globe are expected to create growth prospects for smart electricity meters in the commercial sector
  • The growing awareness among customers regarding the benefits of smart meters is foreseen to increase the adoption in non-regulatory regions as well
  • Companies in the market are concentrating on growing their client bases to acquire a competitive edge in the market and are taking various strategic initiatives, such as partnerships, acquisitions and mergers, and collaborations with other important players

Why should you buy this report?

  • Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
  • Competitive Landscape: Explore the market presence of key players worldwide.
  • Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
  • Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.

This report addresses:

  • Market intelligence to enable effective decision-making
  • Market estimates and forecasts from 2018 to 2030
  • Growth opportunities and trend analyses
  • Segment and regional revenue forecasts for market assessment
  • Competition strategy and market share analysis
  • Product innovation listing for you to stay ahead of the curve
  • COVID-19's impact and how to sustain in these fast-evolving markets


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

Table of Contents

Chapter 1 Methodology and Scope
1.1 Information Procurement and Research Scope
1.2 Information Analysis
1.3 Market Formulation & Data Visualization
1.4 Market Scope and Assumptions
1.5 List of Data Sources
1.5.1 Secondary Sources
1.5.2 Primary Sources
Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segmental Insights
2.3 Global Smart Electricity Meters Market
2.3.1 Global Smart Electricity Meters Market, 2018 - 2030 (USD Million)
2.3.3 Global Smart Electricity Meters Market, By Region, 2018 - 2030 (USD Million)
2.3.5 Global Smart Electricity Meters Market, By Phase, 2018 - 2030 (USD Million)
2.3.6 Global Smart Electricity Meters Market, By End-use, 2018 - 2030 (USD Million)
2.4 Global Smart Electricity Meters Market, Trend Analysis
Chapter 3 Market Variables, Trends & Scope
3.1 Market Segmentation
3.2 Market Scope
3.3 Smart Electricity Meters - Market Size and Growth Prospects (USD Million)
3.4 Value Chain Analysis
3.5 Market Dynamics
3.5.1 Market Driver Analysis
3.5.1.1 Rising need for energy efficiency & conservation
3.5.1.2 Increased government initiatives to install Smart Electricity Meter
3.5.1.3 Growing adoption of smart grids by several regions
3.5.1.4 Increasing need for energy security globally
3.5.2 Market Restraint Analysis
3.5.2.1 Electricity theft concern
3.5.2.2 Lack of standardization
3.6 Penetration & Key Opportunities Mapping
3.7 Industry Analysis - Porter’s
3.7.1 Supplier Power: Moderate
3.7.2 Buyer Power: Low
3.7.3 Substitution Threat: LOW
3.7.4 Threat from New Entrant: Moderate
3.7.5 Competitive Rivalry: High
3.8 PEST Analysis
3.8.1 Political Landscape
3.8.2 Economic Landscape
3.8.3 Social Landscape
3.8.4 Technology Landscape
3.9 Regulatory Landscape
3.10 Smart Meter Standardizations
3.11 Government Initiatives
3.12 Smart Electricity Meters - Competition Dashboard
Chapter 4 Smart Electricity Meters Market: Phase Estimates and Trend Analysis
4.1 Smart Electricity Meters Market: Phase Movement Analysis
4.2 Smart Electricity Meters Market, By Phase, Trend Analysis
4.2.1 Single-Phase
4.2.2 Three-Phase
4.3 Single- Phase
4.3.1 Global SINGLE-PHASE Smart electricity meters market, By Region, 2018 - 2030 (USD Million)
4.4 Three-Phase
4.4.1 Global three-phase Smart electricity meters market, By Region, 2018 - 2030 (USD Million)
Chapter 5 Smart Electricity Meters Market: End-Use Estimates and Trend Analysis
5.1 End-Use Movement Analysis & Market Share, 2022 & 2028
5.2 Smart Electricity Meters Market, By End-use, Trend Analysis
5.2.1 Residential
5.2.2 Commercial
5.2.3 Industrial
5.3 Residential
5.3.1 Global Residential Smart electricity meters market, By Region, 2018 - 2030 (USD Million)
5.4 Commercial
5.4.1 Global commercial Smart electricity meters market, By Region, 2018 - 2030 (USD Million)
5.5 Industrial
5.5.1 Global Industtrial Smart electricity meters market, By Region, 2018 - 2030 (USD Million)
Chapter 6 Smart electricity meters Market: Regional Estimates and Trend Analysis
6.1 Smart Electricity Meters Market: Regional Outlook
6.2 Smart Electricity Meters Market: Regional Movement Analysis
6.3 Smart Electricity Meters Market Overview, By Region
6.3.1 North America
6.3.2 Europe
6.3.3 Asia Pacific
6.3.4 South America
6.3.5 MEA
6.4 North America
6.4.1 North America Smart electricity meters Market, 2018 - 2030 (USD Million)
6.4.2 North America Smart electricity meters Market, By Phase, 2018 - 2030 (USD Million)
6.4.3 North America Smart electricity meters Market, By end-use, 2018 - 2030 (USD Million)
6.4.4 U.S.
6.4.5.1 U.S. Smart electricity meters Market, 2018 - 2030 (USD Million)
6.4.5.2 U.S. Smart electricity meters Market, By phase, 2018 - 2030 (USD Million)
6.4.5.3 U.S. Smart electricity meters Market, By end-use, 2018 - 2030 (USD Million)
6.4.6 Canada
6.4.6.1 canada Smart electricity meters Market, 2018 - 2030 (USD Million)
6.4.6.2 Canada Smart electricity meters Market, By phase, 2018 - 2030 (USD Million)
6.4.6.3 canada Smart electricity meters Market, By end-use, 2018 - 2030 (USD Million)
6.4.7 mexico
6.4.7.1 Mexico Smart electricity meters Market, 2018 - 2030 (USD Million)
6.4.7.2 Mexico Smart electricity meters Market, By phase, 2018 - 2030 (USD Million)
6.4.7.3 mexico Smart electricity meters Market, By end-use, 2018 - 2030 (USD Million)
6.5 Europe
6.5.1 Europe Smart electricity meters Market, 2018 - 2030 (USD Million)
6.5.2 Europe Smart electricity meters Market, By Phase, 2018 - 2030 (USD Million)
6.5.3 Europe Smart electricity meters Market, By end-use, 2018 - 2030 (USD Million)
6.5.4 U.K.
6.5.4.1 U.K. Smart electricity meters Market, 2018 - 2030 (USD Million)
6.5.4.2 U.K. Smart electricity meters Market, By phase, 2018 - 2030 (USD Million)
6.5.4.3 U.K. Smart electricity meters Market, By end-use, 2018 - 2030 (USD Million)
6.5.7 Germany
6.5.7.1 Germany Smart electricity meters Market, 2018 - 2030 (USD Million)
6.5.7.2 Germany Smart electricity meters Market, By phase, 2018 - 2030 (USD Million)
6.5.7.3 Germany Smart electricity meters Market, By end-use, 2018 - 2030 (USD Million)
6.5.8 France
6.5.8.1 France Smart electricity meters Market, 2018 - 2030 (USD Million)
6.5.8.2 France Smart electricity meters Market, By phase, 2018 - 2030 (USD Million)
6.5.8.3 France Smart electricity meters Market, By end-use, 2018 - 2030 (USD Million)
6.5.9 Italy
6.5.9.1 Italy Smart electricity meters Market, 2018 - 2030 (USD Million)
6.5.9.2 Italy Smart electricity meters Market, By phase, 2018 - 2030 (USD Million)
6.5.9.3 Italy Smart electricity meters Market, By end-use, 2018 - 2030 (USD Million)
6.5.10 spain
6.5.10.1 Spain Smart electricity meters Market, 2018 - 2030 (USD Million)
6.5.10.2 Spain Smart electricity meters Market, By phase, 2018 - 2030 (USD Million)
6.5.10.3 Spain Smart electricity meters Market, By end-use, 2018 - 2030 (USD Million)
6.5.11 Netherlands
6.5.11.1 Netherlands Smart electricity meters Market, 2018 - 2030 (USD Million)
6.5.11.2 Netherlands Smart electricity meters Market, By phase, 2018 - 2030 (USD Million)
6.5.11.3 Netherlands Smart electricity meters Market, By end-use, 2018 - 2030 (USD Million)
6.6 Asia Pacific (APAC)
6.6.1 Asia Pacific Smart electricity meters Market, 2018 - 2030 (USD Million)
6.6.2 Asia Pacific Smart electricity meters Market, By Phase, 2018 - 2030 (USD Million)
6.6.3 Asia Pacific Smart electricity meters Market, By end-use, 2018 - 2030 (USD Million)
6.6.4 South Korea
6.6.4.1 South Korea Smart electricity meters Market, 2018 - 2030 (USD Million)
6.6.4.2 South Korea Smart electricity meters Market, By Phase, 2018 - 2030 (USD Million)
6.6.4.3 south korea Smart electricity meters Market, By End-Use, 2018 - 2030 (USD Million)
6.6.5 china
6.6.5.1 China Smart electricity meters Market, 2018 - 2030 (USD Million)
6.6.5.2 China Smart electricity meters Market, By Phase, 2018 - 2030 (USD Million)
6.6.5.3 China Smart electricity meters Market, By end-use, 2018 - 2030 (USD Million)
6.6.6 japan
6.6.6.1 Japan Smart electricity meters Market, 2018 - 2030 (USD Million)
6.6.6.2 Japan Smart electricity meters Market, By Phase, 2018 - 2030 (USD Million)
6.6.6.3 Japan Smart electricity meters Market, By End-Use, 2018 - 2030 (USD Million)
6.7 South America
6.7.1 south america Smart electricity meters Market, 2018 - 2030 (USD Million)
6.7.2 south america Smart electricity meters Market, By Phase, 2018 - 2030 (USD Million)
6.7.3 south America Smart electricity meters Market, By End-Use, 2018 - 2030 (USD Million)
6.7.4 Brazil
6.7.4.1 Brazil Smart electricity meters Market, 2018 - 2030 (USD Million)
6.7.4.2 Brazil Smart electricity meters Market, By Phase, 2018 - 2030 (USD Million)
6.7.4.3 Brazil Smart electricity meters Market, By end-use, 2018 - 2030 (USD Million)
6.8 Middle East & Africa (MEA)
6.8.1 Middle East & Africa Smart electricity meters Market, 2018 - 2030 (USD Million)
6.8.2 Middle East & Africa Smart electricity meters Market, By Phase, 2018 - 2030 (USD Million)
6.8.3 Middle East & Africa Smart electricity meters Market, By End-Use, 2018 - 2030 (USD Million)
Chapter 7 Competitive Landscape
7.1 ABB Ltd.
7.1.1 Company Overview
7.1.2 Financial Performance
7.1.3 Product Benchmarking
7.1.4 Recent Developments
7.2 General Electric (GE) Company
7.2.1 Company Overview
7.2.2 Financial Performance
7.2.3 Product Benchmarking
7.2.4 Recent Developments
7.3 Holley Technology Ltd.
7.3.1 Company Overview
7.3.2 Product Benchmarking
7.3.3 Recent Developments
7.4 Elster Group SE
7.4.1 Company Overview
7.4.2 Product Benchmarking
7.4.3 Recent Development
7.5 Iskraemeco D.D.
7.5.1 Company Overview
7.5.2 Product Benchmarking
7.5.3 Recent Developments
7.6 Itron, Inc.
7.6.1 Company Overview
7.6.2 Financial Performance
7.6.3 Product Benchmarking
7.6.4 Recent Developments
7.7 Landis+Gyr
7.7.1 Company Overview
7.7.2 Financial performance
7.7.3 Product Benchmarking
7.7.4 Recent Development
7.8 Schneider Electric SE
7.8.1 Company Overview
7.8.2 Financial Performance
7.8.3 Product Benchmarking
7.8.4 Recent Development
7.9 Siemens AG
7.9.1 Company Overview
7.9.2 Financial Performance
7.9.3 Product Benchmarking
7.9.4 Recent Developments
List of Tables
Table 1 Smart electricity meters market - Industry snapshot & key buying criteria, 2018 - 2030
Table 2 Global smart electricity meters market, 2018 - 2030 (USD Million)
Table 3 Global smart electricity meters market, by region, 2018 - 2030 (USD Million)
Table 4 Global smart electricity meters market, by phase, 2018 - 2030 (USD Million)
Table 5 Global smart electricity meters market, by end-use, 2018 - 2030 (USD Million)
Table 6 Smart electricity meters market - Key market driver impact
Table 7 Smart electricity meter market - Key market restraint impact
Table 8 Global single-phase smart electricity meters market, by region, 2018 - 2030 (USD Million)
Table 9 Global three-phase smart electricity meters market, by region, 2018 - 2030 (USD Million)
Table 10 Global residential smart electricity meters market, by region, 2018 - 2030 (USD Million)
Table 11 Global commercial smart electricity meters market, by region, 2018 - 2030 (USD Million)
Table 12 Global industrial smart electricity meters market, by region, 2018 - 2030 (USD Million)
Table 13 North America Smart electricity meters market, 2018 - 2030 (USD Million)
Table 14 North America smart electricity meters market, by phase, 2018 - 2030 (USD Million)
Table 15 North America smart electricity meters market, by end-use, 2018 - 2030 (USD Million)
Table 16 U.S. Smart electricity meters market, 2018 - 2030 (USD Million)
Table 17 U.S. Smart electricity meters market, by phase, 2018 - 2030 (USD Million)
Table 18 U.S. Smart electricity meters market, by end-use, 2018 - 2030 (USD Million)
Table 19 Canada Smart electricity meters market, 2018 - 2030 (USD Million)
Table 20 Canada Smart electricity meters market, by phase, 2018 - 2030 (USD Million)
Table 21 Canada Smart electricity meters market, by end-use, 2018 - 2030 (USD Million)
Table 22 Mexico Smart electricity meters market, 2018 - 2030 (USD Million)
Table 23 Mexico Smart electricity meters market, by phase, 2018 - 2030 (USD Million)
Table 24 Mexico Smart electricity meters market, by end-use, 2018 - 2030 (USD Million)
Table 25 Europe smart electricity meters market, 2018 - 2030 (USD Million)
Table 26 Europe smart electricity meters market, by phase, 2018 - 2030 (USD Million)
Table 27 Europe smart electricity meters market, by end-use, 2018 - 2030 (USD Million)
Table 28 U.K. Smart electricity meters market, 2018 - 2030 (USD Million)
Table 29 U.K. Smart electricity meters market, by phase, 2018 - 2030 (USD Million)
Table 30 U.K. Smart electricity meters market, by end-use, 2018 - 2030 (USD Million)
Table 31 Germany smart electricity meters market, 2018 - 2030 (USD Million)
Table 32 Germany smart electricity meters market, by phase, 2018 - 2030 (USD Million)
Table 33 Germany smart electricity meters market, by end-use, 2018 - 2030 (USD Million)
Table 34 France smart electricity meters market, 2018 - 2030 (USD Million)
Table 35 France smart electricity meters market, by phase, 2018 - 2030 (USD Million)
Table 36 France smart electricity meters market, by end-use, 2018 - 2030 (USD Million)
Table 37 Italy smart electricity meters market, 2018 - 2030 (USD Million)
Table 38 Italy smart electricity meters market, by phase, 2018 - 2030 (USD Million)
Table 39 Italy smart electricity meters market, by end-use, 2018 - 2030 (USD Million)
Table 40 Spain smart electricity meters market, 2018 - 2030 (USD Million)
Table 41 Spain smart electricity meters market, by phase, 2018 - 2030 (USD Million)
Table 42 Spain smart electricity meters market, by end-use, 2018 - 2030 (USD Million)
Table 43 Netherlands smart electricity meters market, 2018 - 2030 (USD Million)
Table 44 Netherlands smart electricity meters market, by phase, 2018 - 2030 (USD Million)
Table 45 Netherlands smart electricity meters market, by end-use, 2018 - 2030 (USD Million)
Table 46 Asia Pacific smart electricity meters market, 2018 - 2030 (USD Million)
Table 47 Asia Pacific smart electricity meters market, by phase, 2018 - 2030 (USD Million)
Table 48 Asia Pacific smart electricity meters market, by end-use, 2018 - 2030 (USD Million)
Table 49 South Korea smart electricity meters market, 2018 - 2030 (USD Million)
Table 50 South Korea smart electricity meters market, by phase, 2018 - 2030 (USD Million)
Table 51 South Korea smart electricity meters market, by end-use, 2018 - 2030 (USD Million)
Table 52 China smart electricity meters market, 2018 - 2030 (USD Million)
Table 53 China smart electricity meters market, by phase, 2018 - 2030 (USD Million)
Table 54 China smart electricity meters market, by end-use, 2018 - 2030 (USD Million)
Table 55 Japan smart electricity meters market, 2018 - 2030 (USD Million)
Table 56 Japan smart electricity meters market, by phase, 2018 - 2030 (USD Million)
Table 57 Japan smart electricity meters market, by end-use, 2018 - 2030 (USD Million)
Table 58 South America smart electricity meters market, 2018 - 2030 (USD Million)
Table 59 South America smart electricity meters market, by phase, 2018 - 2030 (USD Million)
Table 60 South America smart electricity meters market, by end-use, 2018 - 2030 (USD Million)
Table 61 Brazil smart electricity meters market, 2018 - 2030 (USD Million)
Table 62 Brazil smart electricity meters market, by phase, 2018 - 2030 (USD Million)
Table 63 Brazil smart electricity meters market, by end-use, 2018 - 2030 (USD Million)
Table 64 Middle East & Africa smart electricity meters market, 2018 - 2030 (USD Million)
Table 65 Middle East & Africa smart electricity meters market, by phase, 2018 - 2030 (USD Million)
Table 66 Middle East & Africa smart electricity meters market, by end-use, 2018 - 2030 (USD Million)
List of Figures
Fig. 1 Research process
Fig. 2 Market formulation
Fig. 3 Industry snapshot
Fig. 4 Segmental insights (1/2)
Fig. 5 Segmental insights (2/2)
Fig. 6 Smart Electricity Meters market segmentation
Fig. 7 Smart Electricity Meters - Market size and growth prospects (USD Million)
Fig. 8 Value chain analysis
Fig. 9 Market dynamics
Fig. 10 Key opportunity analysis
Fig. 11 Smart electricity meters market share, by phase, 2022 & 2030 (USD Million)
Fig. 12 Smart electricity meters market share, by end-use, 2022 & 2030 (USD Million)
Fig. 13 Smart electricity meters regional outlook, 2022 & 2030
Fig. 14 Smart electricity meters market share, by region, 2022 & 2030 (USD Million)
Fig. 15 North America smart electricity meters market- Key takeaways, 2022 & 2030 Revenue (USD Million)
Fig. 16 Europe Smart Electricity Meters Market- Key takeaways, 2022 & 2030 Revenue (USD Million)
Fig. 17 Asia Pacific Smart Electricity Meters - Key takeaways, 2022 & 2030 Revenue (USD Million)
Fig. 18 South America Smart electricity meters market- Key takeaways, 2022 & 2030 (Revenue, USD Million)
Fig. 19 MEA Smart Electricity Meters Market- Key takeaways, 2022 & 2030 Revenue (USD Million)

Companies Mentioned

  • ABB Ltd.
  • General Electric (GE) Company
  • Holley Technology Ltd.
  • Elster Group SE
  • Iskraemeco D.D.
  • Itron, Inc.
  • Landis+Gyr
  • Schneider Electric SE
  • Siemens AG

Methodology

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Table Information

Report AttributeDetails
No. of Pages119
PublishedMay 2023
Forecast Period2022 - 2030
Estimated Market Value ( USD ) in 2022 $ 11.65 Billion
Forecasted Market Value ( USD ) by 2030 $ 21.81 Billion
Compound Annual Growth Rate7.6%
Regions CoveredGlobal
No. of Companies Mentioned9

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