US Smart Meter Market Size, Share, Trends, & Industry Analysis By Component (Hardware and Software), By Type, By Technology, By End Use, and By Country

Description

List of Tables

The us smart meter market size is expected to reach USD 7.87 Billion by 2034, according to a new study by Polaris Market Research. The report "US Smart Meter Market Size, Share, Trends, & Industry Analysis By Component (Hardware and Software), By Type, By Technology, By End Use, and By Region - Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.

The U.S. smart meter market is expanding due to the rising need for efficient and data-driven solutions for managing energy, water, and gas services. Advanced meters reduce operational costs, improve billing accuracy, and support more reliable delivery of utility providers. These systems offer real-time data and remote monitoring capabilities, allowing providers to respond quickly to outages, track consumption patterns, and manage demand more effectively.

US smart meter market is growing, fueled by strong policy support, grid modernization programs, and rising adoption of electric vehicles and rooftop solar systems. Utilities shifting toward dynamic and flexible energy models increasingly rely on smart meters to improve operational efficiency and promote sustainable resource management. States across the country are investing in these systems to improve infrastructure, streamline operations, and prepare for future energy needs.

US Smart Meter Market Report Highlights

In terms of component, the hardware component segment held the largest market share in 2024, driven by substantial deployments of physical smart metering devices across residential, commercial, and industrial facilities globally.

Based on type, the smart water meter category is expected to register the highest growth rate through 2034, propelled by utility sector priorities including water resource conservation, leakage reduction, and improved billing precision.

In terms of technology, the advanced metering infrastructure (AMI) segment captured the dominant revenue share in 2024, owing to its superior capabilities enabling bidirectional communication, real-time pricing models, and sophisticated grid optimization features.

In terms of end use, the commercial end-use segment is forecast to experience the most rapid expansion during the projection period, motivated by growing corporate requirements for detailed consumption analytics, expenditure control, and environmental impact monitoring in commercial properties.

A few global key market players include ABB Group, Aclara Technologies LLC (Hubbell Incorporated), Badger Meter Inc., Diehl Metering U.S., Elster Group GmbH (Honeywell International Inc.), General Electric Company, Honeywell International Inc., Itron Inc., Kamstrup A/S, Landis+Gyr Group AG, Mueller Systems LLC.

Polaris Market Research has segmented the market report on the basis of component, type, technology, end use, and region:

By Component Outlook (Revenue, USD Billion, 2020-2034)

Hardware

Software

By Type Outlook (Revenue, USD Billion, 2020-2034)

Smart Electric Meter

Smart Water Meter

Smart Gas Meter

By Technology Outlook (Revenue, USD Billion, 2020-2034)

Automatic Meter Reading (AMR)

Advanced Meter Infrastructure (AMI)

By End Use Outlook (Revenue, USD Billion, 2020-2034)

Residential

Commercial

Industrial

Product Code: PM5895

1. Introduction

1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
1.2. Stakeholders

2. Executive Summary

2.1. Market Highlights

3. Research Methodology

3.1. Overview
- 3.1.1. Data Mining
3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources

4. US Smart Meter Market Insights

4.1. US Smart Meter Market - Market Snapshot
4.2. US Smart Meter Market Dynamics
- 4.2.1. Drivers and Opportunities
  - 4.2.1.1. Supportive Regulatory Frameworks Boosting Utility Investment
  - 4.2.1.2. Electric Vehicle Expansion Driving Demand for Smart Metering Infrastructure
- 4.2.2. Restraints and Challenges
  - 4.2.2.1. High Initial Installation Costs
  - 4.2.2.2. Data Privacy and Security Concerns
4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
4.4. PESTEL Analysis
4.5. US Smart Meter Market Trends
4.6. Value Chain Analysis

5. US Smart Meter Market, by Component

5.1. Key Findings
5.2. Introduction
- 5.2.1. US Smart Meter Market, by Component, 2020-2034 (USD Billion)
5.3. Hardware
- 5.3.1. US Smart Meter Market, by Hardware, by Country, 2020-2034 (USD Billion)
5.4. Software
- 5.4.1. US Smart Meter Market, by Software, by Country, 2020-2034 (USD Billion)

6. US Smart Meter Market, by Type

6.1. Key Findings
6.2. Introduction
- 6.2.1. US Smart Meter Market, by Type, 2020-2034 (USD Billion)
6.3. Smart Electric Meter
- 6.3.1. US Smart Meter Market, by Smart Electric Meter, by Country, 2020-2034 (USD Billion)
6.4. Smart Gas Meter
- 6.4.1. US Smart Meter Market, by Smart Gas Meter, by Country, 2020-2034 (USD Billion)
6.5. Smart Water Meter
- 6.5.1. US Smart Meter Market, by Smart Water Meter, by Country, 2020-2034 (USD Billion)

7. US Smart Meter Market, by Technology

7.1. Key Findings
7.2. Introduction
- 7.2.1. US Smart Meter Market, by Technology, 2020-2034 (USD Billion)
7.3. Automatic Meter Reading (AMR)
- 7.3.1. US Smart Meter Market, by Automatic Meter Reading (AMR), by Country, 2020-2034 (USD Billion)
7.4. Advanced Meter Infrastructure (AMI)
- 7.4.1. US Smart Meter Market, by Advanced Meter Infrastructure (AMI), by Country, 2020-2034 (USD Billion)

8. US Smart Meter Market, by End Use

8.1. Key Findings
8.2. Introduction
- 8.2.1. US Smart Meter Market, by End Use, 2020-2034 (USD Billion)
8.3. Residential
- 8.3.1. US Smart Meter Market, by Residential, by Country, 2020-2034 (USD Billion)
8.4. Commercial
- 8.4.1. US Smart Meter Market, by Commercial, by Country, 2020-2034 (USD Billion)
8.5. Industrial
- 8.5.1. US Smart Meter Market, by Industrial, by Country, 2020-2034 (USD Billion)

9. US Smart Meter Market, by Country

9.1. Key Findings
9.2. Introduction
- 9.2.1. US Smart Meter Market Assessment, By Country, 2020-2034 (USD Billion)
9.3. US Smart Meter Market
- 9.3.1. US: Smart Meter Market, by Component, 2020-2034 (USD Billion)
- 9.3.2. US: Smart Meter Market, by Type, 2020-2034 (USD Billion)
- 9.3.3. US: Smart Meter Market, by Technology, 2020-2034 (USD Billion)
- 9.3.4. US: Smart Meter Market, by End Use, 2020-2034 (USD Billion)

10. Competitive Landscape

10.1. Expansion and Acquisition Analysis
- 10.1.1. Expansion
- 10.1.2. Acquisitions
10.2. Partnerships/Collaborations/Agreements/Exhibitions

11. Company Profiles

11.1. ABB Group
- 11.1.1. Company Overview
- 11.1.2. Financial Performance
- 11.1.3. Product Benchmarking
- 11.1.4. Recent Development
11.2. Aclara Technologies LLC (Hubbell Incorporated)
- 11.2.1. Company Overview
- 11.2.2. Financial Performance
- 11.2.3. Product Benchmarking
- 11.2.4. Recent Development
11.3. Badger Meter Inc.
- 11.3.1. Company Overview
- 11.3.2. Financial Performance
- 11.3.3. Product Benchmarking
- 11.3.4. Recent Development
11.4. Diehl Metering US
- 11.4.1. Company Overview
- 11.4.2. Financial Performance
- 11.4.3. Product Benchmarking
- 11.4.4. Recent Development
11.5. Elster Group GmbH (Honeywell International Inc.)
- 11.5.1. Company Overview
- 11.5.2. Financial Performance
- 11.5.3. Product Benchmarking
- 11.5.4. Recent Development
11.6. General Electric Company
- 11.6.1. Company Overview
- 11.6.2. Financial Performance
- 11.6.3. Product Benchmarking
- 11.6.4. Recent Development
11.7. Itron Inc.
- 11.7.1. Company Overview
- 11.7.2. Financial Performance
- 11.7.3. Product Benchmarking
- 11.7.4. Recent Development
11.8. Kamstrup A/S
- 11.8.1. Company Overview
- 11.8.2. Financial Performance
- 11.8.3. Product Benchmarking
- 11.8.4. Recent Development
11.9. Badminton World Federation
- 11.9.1. Company Overview
- 11.9.2. Financial Performance
- 11.9.3. Product Benchmarking
- 11.9.4. Recent Development
11.10. Landis+Gyr Group AG
- 11.10.1. Company Overview
- 11.10.2. Financial Performance
- 11.10.3. Product Benchmarking
- 11.10.4. Recent Development
11.11. Mueller Systems LLC
- 11.11.1. Company Overview
- 11.11.2. Financial Performance
- 11.11.3. Product Benchmarking
- 11.11.4. Recent Development
11.12. Neptune Technology Group Inc.
- 11.12.1. Company Overview
- 11.12.2. Financial Performance
- 11.12.3. Product Benchmarking
- 11.12.4. Recent Development