Smart Meter Manufacturing in the US - Industry Research Report

Taking notes: Cooling growth in residential construction will hinder industry revenue

The industry has experienced growth through the end of 2023, fueled by rising demand for a modernized power grid and aggressive adoption of the technology nationwide. In addition to improving residential construction activity, demand for smart meters has benefited from a greater number of utilities converting to smart grids. Grid modernization is quickly becoming a core emphasis across energy industries, buoyed by government support and consumer demand for cost and energy-saving technologies. Still, revenue decreased at a CAGR of 0.3% to $6.2 billion through the end of 2023, including an expected 1.0% decrease in 2023 primarily because of falling demand from the housing market.

This industry manufactures smart meters, which are electrical, gas or water meters that record consumption information in intervals of an hour or less and communicate this information back to the utility for monitoring and billing purposes. Smart meters enable two-way communication between the meter and the central system.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.