Smart Utilities Global Market Report 2026

Smart utilities encompass modernized systems and technologies utilized for the management, monitoring, and optimization of utility services such as electricity, water, and gas. These systems leverage connected sensors and the Internet of Things (IoT) to enhance efficiency, optimize asset performance, provide real-time insights, and mitigate utility loss risks.

The key components of smart utilities include hardware, software, and services. Hardware comprises the physical devices and equipment used for managing and monitoring utility services, including meter hardware, communication and networking devices, and power quality equipment. The technology encompasses both wired and wireless solutions, catering to various end applications within the utility sector.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs are influencing the smart utilities market by increasing costs of imported sensors, communication modules, control systems, energy storage components, and advanced utility hardware. Utility operators in North America and Europe are most affected due to dependence on imported smart infrastructure technologies, while Asia-Pacific faces cost pressures on large-scale smart city and utility projects. These tariffs are raising capital investment requirements and slowing implementation timelines. At the same time, they are supporting domestic manufacturing, regional software development, and localized service ecosystems for smart utility solutions.

The smart utilities market research report is one of a series of new reports from The Business Research Company that provides smart utilities market statistics, including smart utilities industry global market size, regional shares, competitors with a smart utilities market share, detailed smart utilities market segments, market trends and opportunities, and any further data you may need to thrive in the smart utilities industry. This smart utilities market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The smart utilities market size has grown rapidly in recent years. It will grow from $52.86 billion in 2025 to $59.81 billion in 2026 at a compound annual growth rate (CAGR) of 13.2%. The growth in the historic period can be attributed to digitization of utility operations, expansion of connected utility assets, early adoption of scada-based monitoring systems, increasing investments in grid automation, rising demand for operational efficiency.

The smart utilities market size is expected to see rapid growth in the next few years. It will grow to $97.77 billion in 2030 at a compound annual growth rate (CAGR) of 13.1%. The growth in the forecast period can be attributed to increasing investments in smart utility modernization, rising integration of ai-driven analytics, expansion of connected water and gas networks, growing adoption of cloud-based utility platforms, increasing focus on sustainability-driven utility optimization. Major trends in the forecast period include increasing adoption of integrated utility management platforms, rising deployment of iot-enabled utility sensors, growing use of predictive analytics for asset management, expansion of cloud-based utility operations, enhanced focus on loss prevention and efficiency.

The increasing adoption of electric vehicles is expected to drive the growth of the smart utilities market in the coming years. Electric vehicles (EVs) are powered by one or more electric motors using energy stored in rechargeable batteries or other energy storage devices. The rise in EV usage is fueled by convenience and environmental benefits, along with the growing availability of models, decreasing costs, and supportive government policies aimed at decarbonization. Smart utilities support EV integration by optimizing charging infrastructure, managing grid demand, and enabling efficient energy distribution. For example, in January 2025, according to Cox Automotive, a US-based system software company, electric vehicle sales in 2023 were revised upward to 1,212,758 units, a 49% increase compared to 2022, and continued to grow in 2024, rising 7.3% to 1,301,411 units. Therefore, the growing adoption of electric vehicles is driving the expansion of the smart utilities market.

Leading companies in the smart utilities sector are concentrating on developing advanced solutions such as advanced meter infrastructure (AMI) systems to modernize urban water management and gain a competitive advantage. AMI solutions are comprehensive systems that automate real-time data collection and management for efficient utility monitoring and control. For instance, ST Engineering introduced BrightCity in June 2024, an AMI solution designed to assist utility providers and consumers in managing water consumption effectively. BrightCity addresses challenges posed by aging water infrastructure and disparate meter systems by converting traditional meters into smart meters using its innovative Meter Interface Unit (MIU). This MIU, compatible with most water meters, enables wireless data collection and integrates with a central Meter Data Management System (MDMS) for real-time insights, predictive leakage detection, and customer usage monitoring through a dedicated portal.

In February 2023, Smart Energy Water (SEW), a US-based digital customer and workforce solutions provider, acquired 3Insys. The acquisition aimed to enhance SEW's offerings and expand its market presence in digital solutions for the energy and utility sectors. 3Insys, known for its Agile Integration Platform as a Service (iPaaS) tailored to energy and utility industries, brought valuable expertise and technology to SEW through this acquisition.

Major companies operating in the smart utilities market are Siemens AG, General Electric Company, International Business Machines Corporation, Cisco Systems Inc, Oracle Corporation, Mitsubishi Electric Corporation, Schneider Electric SE, Honeywell International Inc, ABB Ltd, SAP SE, Eaton Corporation plc, Atos SE, Wipro Limited, Tech Mahindra Limited, Hubbell Incorporated, Itron Inc, Enel X S.r.l., Landis+Gyr Group AG, S&C Electric Company, Kamstrup A/S, Tantalus Systems Corporation, Trilliant Holdings Inc

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

The smart utilities market consists of revenues earned by entities by providing services such as energy auditing services, utility billing services, grid management services, and remote monitoring services. The market value includes the value of related goods sold by the service provider or included within the service offering. The smart utilities market also includes sales of products including smart meters, smart grids, smart sensors, and smart thermostats. 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.

Smart Utilities Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses smart utilities market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for smart utilities ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The smart utilities market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
• The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
• The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
• The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
• The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
• The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
• Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.

Scope

• Markets Covered:1) By Components: Hardware; Software; Services
• 2) By Technology: Wired; Wired-Less
• 3) By Applications: Meter Hardware; Communications And Networking; Power Quality Equipment; Technologies
• Subsegments:
• 1) By Hardware: Smart Meters (Electricity, Gas, Water); Communication Modules (For Smart Grid Networks); Sensors And Actuators (For Monitoring And Control); Smart Grids And Substations Equipment; Advanced Metering Infrastructure (Ami); Energy Storage Systems (Batteries); Smart Transformers And Circuit Breakers; Iot Devices For Utilities
• 2) By Software: Smart Grid Management Software; Utility Data Management Systems (Udms); Energy Management Software (Ems); Geographic Information Systems (Gis); Billing And Customer Information Systems (Cis); Predictive Analytics And Forecasting Software; Scada Systems (Supervisory Control And Data Acquisition); Cloud-based Software For Utility Operations
• 3) By Services: Installation And Commissioning Services; Consulting Services (For Smart Grid Design And Implementation); Maintenance And Support Services; Data Analytics And Reporting Services; Cloud Hosting And Data Storage Services; Cybersecurity Services For Smart Utilities; Managed Services (For Operations And Monitoring); Remote Monitoring And Diagnostics Services
• Companies Mentioned: Siemens AG; General Electric Company; International Business Machines Corporation; Cisco Systems Inc; Oracle Corporation; Mitsubishi Electric Corporation; Schneider Electric SE; Honeywell International Inc; ABB Ltd; SAP SE; Eaton Corporation plc; Atos SE; Wipro Limited; Tech Mahindra Limited; Hubbell Incorporated; Itron Inc; Enel X S.r.l.; Landis+Gyr Group AG; S&C Electric Company; Kamstrup A/S; Tantalus Systems Corporation; Trilliant Holdings Inc
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time Series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery Format: Word, PDF or Interactive Report
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