Smart Meter Market Report 2026

The smart meter market size has grown strongly in recent years. It will grow from $28.58 billion in 2025 to $31.19 billion in 2026 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to rollout of national smart meter programs, replacement of traditional analog meters, early adoption of AMR technologies, increasing demand for consumption transparency, regulatory mandates for meter digitization.

The smart meter market size is expected to see strong growth in the next few years. It will grow to $43.95 billion in 2030 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to increasing investments in smart utility infrastructure, rising adoption of AMI-based electric meters, expansion of smart gas and water metering, growing integration with energy management platforms, increasing focus on demand-side management. Major trends in the forecast period include increasing deployment of advanced metering infrastructure, rising adoption of two-way communication meters, growing integration of real-time consumption analytics, expansion of prepaid and remote metering solutions, enhanced focus on accurate billing and energy management.

The smart meter market is poised for growth due to the increasing adoption of renewable energy sources, which are derived from natural resources replenished on a human timescale such as sunlight, wind, rain, tides, waves, and geothermal heat. This adoption is driven by rising environmental awareness, government incentives, technological advancements lowering renewable energy system costs, and the imperative for energy security and sustainability. Smart meters play a crucial role in efficiently integrating and managing renewable energy sources by providing real-time data on energy consumption and production. For instance, as of January 2024, the U.S. Energy Information Administration reported that solar power generation in the U.S. reached 63 billion kilowatt-hours (kWh) in 2023 and is projected to increase by 75% to 286 billion kWh by 2025. This trend underscores how the increasing adoption of renewable energy will propel the smart meter market's expansion.

Key players in the smart meter market are innovating with advanced metering infrastructure and data analytics, such as smart meters equipped with grid-edge capabilities. These advancements aim to boost energy efficiency, enhance grid reliability, and provide detailed insights into energy consumption patterns. A smart meter with grid-edge capabilities serves as a sophisticated tool that monitors energy usage, offering real-time data and insights directly from the power grid's edge. This capability significantly improves the monitoring and management of electricity distribution. For instance, in December 2023, Xylem, a US-based industrial machinery manufacturer, introduced the Stratus IQ+ electricity meter. This device integrates grid-edge capabilities to provide comprehensive data, including details on EV charging, to utility companies. Its advanced processor and data features enable thorough system diagnostics and a deeper understanding of customer electricity usage patterns. Moreover, the meter supports the EV market by employing edge computing algorithms to detect battery EV charging activities, assisting utilities in optimizing capacity planning and managing off-peak programs more effectively.

In July 2024, Ancala, a UK-based infrastructure investment management company, completed the acquisition of Solandeo GmbH for an undisclosed sum. This strategic move positions Ancala to secure funding and financial stability to address increasing demand driven by Germany's impending national smart meter rollout mandate, which supports efforts to achieve climate neutrality by 2045. Solandeo GmbH, based in Germany, specializes in manufacturing smart meters and is involved in renewable energy semiconductor production.

Major companies operating in the smart meter market are Siemens AG, Honeywell International Inc, ABB Group, Larsen & Toubro, Sensus Technologies Private Limited, Sagemcom SAS, Shenzhen Kaifa Technology Co. Ltd., Itron Inc., Landis Gyr Limited, Wasion Holdings Limited, Osaki Electric Co. Ltd., Hexing Electrical Co.Ltd., Badger Meter Inc, Pietro Fiorentini Db India Private Limited, Aclara Technologies LLC, Kamstrup Metering Solutions Pvt. Ltd., Neptune Technology Group Inc., Genus Power Infrastructures Ltd., Iskraemeco Group, Jiangsu Linyang Energy Co. Ltd., Secure Meters Ltd, Suntront Tech Co. Ltd, EDMI Limited, Networked Energy Services Corporation, Holley Metering Limited.

Asia-Pacific was the largest region in the smart meter market in 2025. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the smart meter market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the smart meter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The smart meter market consists of sales of electricity meters, gas meters, water meters, and related communication and data management systems. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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