Smart Meter Market Global Forecast Report 2025-2030, With Profiles Of Landis+Gyr, Itron, Sagemcom, Osaki Electric, Siemens And More

(MENAFN- GlobeNewsWire - Nasdaq) Dublin, March 21, 2025 (GLOBE NEWSWIRE) -- The "Smart Meter Market by Type (Electric, Gas, Water), Component (Hardware, Software), Technology (AMI, AMR), Communication Technology (RF, PLC, Cellular), End User (Residential, Commercial, Industrial), and Region - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

The report defines, describes, and forecasts the global smart meter market, by type, component, technology, communication, end user, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the smart meter market.

The global smart meter market is estimated to grow from USD 26.36 Billion in 2024 to USD 46.14 Billion by 2030; it is expected to record a CAGR of 9.8% during the forecast period. Governments worldwide are undertaking several initiatives to meet future electricity demands and are focusing on reducing carbon footprint by promoting the use of renewable energy sources to produce energy. Smart meters will play a crucial role in achieving these initiatives.
Software: The fastest segment of the smart meter market, by component
Based on components, the smart meter market has been split into hardware and software. The customer information system (CIS), meter data management system (MDMS), and metering and billing software are critical software components of smart meters. The software helps manage the operations of smart meters once deployed by the utilities. Smart meter software aids in the detection of abnormal utility consumption patterns and the accurate billing of consumers.
AMI segment is expected to emerge as the largest segment based on technology
By technology, the smart meter market has been segmented into AMI & AMR. AMI enables the meters to collect and transmit data on utility and energy use in real-time. The foundation of smart grid projects is smart meters employing AMI technology, and rising investment in such projects serves as a major growth driver for the market for AMI smart meters.
Europe is expected to be the second largest market during the forecast period.
Europe is expected to be the second-largest market in the global smart meters in 2024 and is among the pioneers in adopting smart meters technology. Major western European countries such as France, Germany, Italy, Spain, and the UK are growing markets for smart meters. The European Union has already started the modernization and transformation toward a climate-neutral economy and plans to become the world's first major economy to go climate neutral by 2050.
Competitive Landscape
Landis+Gyr (Switzerland), Itron Inc. (US), Sagemcom (France), Osaki Electric Co. (EDMI) (Singapore), Siemens (Germany) are some of the key players in the smart meter market. The study includes an in-depth competitive analysis of these key, with their company profiles, recent developments, and key market strategies.
Key Benefits of Buying the Report

• Analysis of key drivers, restraints, opportunities and challenges influences the growth of the smart meter market.
• Market Development: In 2023, Italy has 21 million water meters installed, with only 17% being smart devices. The USD 937-million allocation will drive a massive modernization effort, targeting the replacement of approximately 13.5 million traditional water meters with digitized versions. Several countries in the region are replacing older water meters with smart water meters, which is further creating opportunities for players operating in this regional market.
• Product Innovation/ Development: The smart meter market is evolving with incorporation of Internet of Things, Artificial Intelligence, and cloud-based innovations to perform real-time monitoring, leak detection, and automation in billing. Advanced sensing technology increases accuracy levels, and further advancements through LoRaWAN and NB-IoT promote remote connectivity. Sustainability and Smart Cities have seen innovations in improving battery life, cybersecurity, and predictive maintenance are driving the future of water metering.
• Market Diversification: In March 2024, Aclara partnered with Utilidata to integrate their distributed AI platform into Aclara's smart meters. This collaboration is intended to enhance grid operations and improve the management of water resources through advanced analytics and real-time data processing.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Landis+Gyr (Switzerland), Itron Inc. (US), Sagemcom (France), OSAKI ELECTRIC CO., LTD. (EDMI) (Singapore), Siemens (Germany), Badger Meter, Inc. (US), Sensus (Xylem) (US), Honeywell International Inc. (US), Aclara (Hubbell) (US), Kamstrup (Denmark), and Wasion Holdings International (China) among others in the smart meter market.

Key Attributes:

Report Attribute	Details
No. of Pages	366
Forecast Period	2024 - 2030
Estimated Market Value (USD) in 2024	$26.36 Billion
Forecasted Market Value (USD) by 2030	$46.14 Billion
Compound Annual Growth Rate	9.8%
Regions Covered	Global

Key Topics Covered:
Premium Insights

• Attractive Opportunities for Players in Smart Meter Market
• Smart Meter Market in Asia-Pacific, by End-user and Country
• Smart Meter Market, by Type
• Smart Meter Market, by End-user
• Smart Meter Market, by Technology
• Smart Meter Market, by Component
• Smart Meter Market, by Communication Technology
• Smart Meter Market, by Region

Market Dynamics

Drivers

• Government Focus on Modernizing Grid Infrastructure
• Greater Emphasis on Cutting Energy Bills by Monitoring Real-Time Consumption
• Dynamic Electricity Pricing
• High Adoption of Preventive Measures Against Grid Blackouts and Utility System Failures
• Increased Need to Monitor Energy Consumption to Achieve Carbon Neutrality

Restraints

• High Setup and Operational Costs, Coupled with Interoperability Issues
• Concerns Related to Consumer Acceptance and ROI Delays

Opportunities

• Pressing Need to Reduce Non-Revenue Water Losses
• Focus of Governments Worldwide on Reducing Aggregate Technical and Commercial Losses in Power Grids
• Integration of AI and ML Technologies into Smart Meters
• Rising Adoption of Electric and Hybrid Vehicles
• Increasing Focus of Developing Countries on Improving Water Distribution Networks

Challenges

• Requirement for Highly Skilled Professionals, Coupled with Data Privacy and Security Concerns
• Complexities in Building Reliable Connections Between Smart Meters and Smart Grid Devices

Case Study Analysis

• Smart Metering Transformed Utility Companies from Budget Deficit to Surplus
• Yorkshire Water Deploys Smart Meters from Netmore Group to Reduce Water Loss
• Western Municipal Water District Installs Neptune's Water Meters for Remote Meter Reading

Company Profiles

• Landis+Gyr
• Itron Inc.
• Siemens
• Osaki Electric Co. Ltd. (Edmi)
• Sagemcom
• Schneider Electric
• Wasion Group
• Badger Meter, Inc.
• Sensus (Xylem)
• Honeywell International Inc.
• Larsen & Toubro Limited
• Kamstrup A/S
• Genus
• Minsait
• Aclara
• Jiangsu Linyang Electronics
• Hexing Electrical Co. Ltd.
• Networked Energy Services
• Pietro Fiorentini S.P.A.
• Secure Meters Ltd.
• Wegot Utility Solutions Pvt Ltd.
• Axioma Metering
• Drizzlex, Inc.
• Conservation Labs, Inc.
• Bove Technology

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