PUBLISHER: Grand View Research | PRODUCT CODE: 1771625
PUBLISHER: Grand View Research | PRODUCT CODE: 1771625
The global smart meter market size was estimated at USD 27.70 billion in 2024 and is projected to reach USD 49.60 billion by 2030, growing at a CAGR of 9.9% from 2025 to 2030. The industry is primarily driven by the increasing adoption of renewable energy sources and the global push for energy efficiency and decarbonization.
Utilities are deploying smart meters to enable better integration of solar, wind, and other renewables into the grid, while also reducing non-technical losses and improving overall grid resilience. This transition supports government mandates and sustainability goals worldwide and innovation in smart metering technologies, further fueling the smart meter industry expansion.
Advanced metering infrastructure (AMI) systems are a gaining trend in the smart meter industry, offering two-way communication between utilities and consumers. AMI enables real-time data collection, dynamic load management, and enhanced analytics, empowering utilities to optimize grid operations and consumers to manage their energy use more effectively. The expansion of AMI is closely linked with IoT and AI integration, which enhances data processing, predictive maintenance, and demand response capabilities.
Additionally, cybersecurity and data privacy have emerged as critical drivers in the smart meter industry, prompting the implementation of robust security measures to protect sensitive consumer data and grid infrastructure. As smart meters become more interconnected through IoT platforms, utilities and manufacturers are investing in secure communication protocols and advanced software solutions to mitigate cyber risks, ensuring trust and regulatory compliance, thereby driving the market growth.
Furthermore, consumer-centric software platforms and analytics tools are transforming the smart meter industry by enabling real-time monitoring, detailed consumption insights, and personalized energy management. These software advancements facilitate better customer engagement, support demand response programs, and help utilities optimize grid performance. Integration with cloud computing and AI further enhances the value of smart metering systems by providing actionable intelligence for both consumers and utilities.
Moreover, key companies are adopting innovative strategies focused on integrating advanced technologies such as IoT, artificial intelligence, and edge computing to enhance data accuracy, grid-edge capabilities, and real-time analytics. They are expanding their advanced metering infrastructure (AMI) offerings to improve predictive maintenance, support electric vehicle integration, and enable comprehensive energy monitoring and optimization. Such strategies by key companies are expected to drive the market growth in the coming years.
Global Smart Meter Market Report Segmentation
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest technological trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global smart meter market report based on component, technology, type, end-use, and region: