Global Smart Utilities Market To Surge, Reaching $157.46 Billion By 2034

(MENAFN- GlobeNewsWire - Nasdaq) Key market opportunities in the smart utilities sector include the expansion of software, wireless communication technologies, and technological applications. The services segment is poised for rapid growth, and significant gains are expected in the USA. Companies should focus on strategic partnerships, edge computing, and digital grid automation.

Dublin, Dec. 12, 2025 (GLOBE NEWSWIRE) -- The "Smart Utilities Global Market Opportunities and Strategies to 2034" has been added to ResearchAndMarkets's offering.
The global smart utilities market, significant in shaping the future of energy management, has showcased robust growth trends from 2019 to 2029 with projections further extending to 2034. In 2024, the market was valued at approximately $46.64 billion and is anticipated to accelerate at a compound annual growth rate (CAGR) of 13.10% to reach $86.29 billion by 2029, eventually soaring to $157.46 billion by 2034 at a CAGR of 12.78%.

The momentum in the historic period was driven by increasing electricity demand, amplified investment in grid automation, government incentives, and the integration of energy storage systems. Challenges included high capital requirements and cybersecurity risks. Looking ahead, the expansion of smart meter deployments, the development of smart grids and microgrids, and the rise of digitalization and IoT in the energy sector promise to fuel market growth. Potential obstacles could include issues integrating with legacy systems, regulatory ambiguities, and trade conflicts.

Regionally, North America led the market with a 35.64% share in 2024, valued at $16.62 billion. Asia Pacific and the Middle East are poised to be the fastest-growing regions moving forward with CAGRs of 16.51% and 14.58%, respectively. These regions are followed by Africa and Eastern Europe, displaying CAGRs of 13.32% and 13.17%.

The smart utilities market exhibits a fair degree of concentration, dominated by major players. In 2024, the top ten companies held a 35.77% market share. Key players included Schneider Electric SE (10.81% market share), Siemens AG, GE Vernova, ABB Ltd, Itron Inc, Oracle Corporation, Landis+Gyr AG, Accenture plc, Eaton Corporation plc, and Enel X.

Segment-wise, the market is divided by component into hardware, software, and services. Software emerged as the largest segment with 52.61% market share in 2024, valued at $24.53 billion. The services segment is anticipated to lead future growth with a 17.04% CAGR from 2024 to 2029. By communication technology, the wired-less segment accounted for 85.33% of the market share, expected to grow at a 14.37% CAGR. In applications, meter hardware was prominent, but technologies will likely drive future growth at an 18.35% CAGR.

Key opportunities lie in the software and wired-less segments, expected to gain significant global annual sales by 2029, with major growth in the USA projected at $9.95 billion. Strategy-wise, market players are advised to form strategic partnerships, enhance intelligent home energy management, leverage edge computing, and pursue metering-as-a-service models. Emphasis on digitalization, IoT analytics, and integration of renewable and distributed energy resources forms the backbone of modern smart utility strategies.

For optimal growth, recommended actions include focusing on integrated home energy systems, expanding edge intelligence, enhancing metering services, and scaling water management solutions. Also, targeting emerging markets and Aiming for strategic alliances will enhance outreach. Transparent pricing, value-driven tariffs, and targeted incentives are essential to bolster trust and drive adoption in the expanding smart utilities landscape.

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Key Attributes:

Report Attribute	Details
No. of Pages	341
Forecast Period	2024 - 2034
Estimated Market Value (USD) in 2024	$46.64 Billion
Forecasted Market Value (USD) by 2034	$157.46 Billion
Compound Annual Growth Rate	12.9%
Regions Covered	Global

Companies Featured
The companies featured in this Smart Utilities market report include:

• Schneider Electric SE
• Siemens AG
• GE Vernova
• ABB Ltd
• Itron Inc.
• Oracle Corporation
• Landis+Gyr AG
• Accenture plc
• Eaton Corporation plc
• Enel X
• Huawei Corporation
• State Grid Corporation of China (SGCC)
• China Southern Power Grid (CSG)
• Alibaba Cloud (Energy Expert Solution)
• Tencent (Tencent Cloud Smart Energy Solutions)
• Pinggao Group Co., Ltd.
• Mitsubishi Electric Corporation
• Tokyo Electric Power Company Holdings, Inc. (TEPCO)
• Toshiba Energy Systems & Solutions Corporation
• Panasonic Holdings Corporation
• Hitachi, Ltd. (Lumada)
• OMRON Corporation
• CHINT
• Samsung SDS (Now Samsung Nexledger for Blockchain solutions)
• LG CNS
• LS Electric
• Tata Power
• Reliance Industries Limited
• Wipro Limited
• Eaton India
• SwitchDin
• CuString
• Origin Energy
• Veolia Water
• Landis+Gyr Group AG
• Netmore Group
• Techem
• Discovergy
• Meshcrafts
• Schneider Electric
• Engie
• Sagemcom
• EDF
• A2A
• Acea
• Sorgenia
• Iberdrola
• Endesa
• ZIV
• Naturgy
• SSE
• Urban Tide
• EDF Energy
• ZPA Smart Energy a.s
• Energostack
• Rusatom Smart Utilities (part of ROSATOM)
• Electrica Esyasoft Smart Solutions S.A
• Metrona Polska
• Xylem (Sensus) Czech Republic
• Logarex Smart Metering s.r.o.
• Retelele Electrice
• TELUS
• ABB
• Alectra Utilities
• Hydro-Quebec

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• Smart Utilities Market

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