Smart Electricity Meters Market (2026 - 2033)

Key Market Trends & Insights

• By phase: The single-phase segment held the largest market share of over 90.0% in 2025.
• By end use: The residential end use segment held the largest market share of over 85.0% in 2025.

Regional Highlights 

• Largest regional market: Asia Pacific (Approximately 40.0% revenue share, 2025)
• Fastest-growing regional market: Europe (highest CAGR, 2026-2033)

The government and various agencies have developed numerous regulations and policies to promote the implementation and adoption of smart meters. Increased regulatory initiatives to install smart electricity meters are expected to drive market demand during the forecast period. The European Union, for example, has established smart electricity metering mandates, with rollout plans set by the Commission for Energy Regulation and other legislative bodies.

Source: Grand View Research, IR Documents, Primary Interviews, Paid Databases

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At present, smart meters are integrated with advanced technologies such as the Internet of Things (IoT) and block chain, thereby enhancing their capabilities and delivering significant benefits to customers. The IoT enables automated meter readings and allows for remote monitoring and control of devices, resulting in increased accuracy, efficiency, and economic advantages for users. Meanwhile, block chain technology provides an additional layer of security for users' data by restricting direct access to meter information.

Market vendors are focusing on developing, organizing, and upgrading the power grid to improve quality, standards, infrastructure, reliability, availability, sustainability, and interconnectivity. They are launching new solutions in line with government policies to meet public needs. The increasing deployment of advanced metering infrastructure (AMI), rising investments from manufacturers, and growing government funding for smart grid infrastructure are all trends observed across various regions.

Moreover, integrating advanced technologies into smart electricity meters enhances control over consumption by analyzing customers’ usage history. Smart meters also improve the quality of electricity supply by enabling quicker detection of outages, eliminating billing errors, and enabling accessible data collection from the user to the primary substation, thereby considerably reducing non-technical losses. These features are anticipated to boost market growth.

Digitalization of meters presents numerous opportunities for advancement, innovation, and enhanced customer service. The installation of advanced metering infrastructure (AMI) smart meters has gained significant traction in North America in recent years. AMI deployment allows both customers and utilities to support smart consumption applications using real-time or near-real-time electricity data, providing consumers with valuable information to manage their electricity usage. In addition, benefits such as low-voltage grid monitoring capabilities, theft detection, and outage management are key advantages of deploying smart meters. The potential operational savings from reduced truck rolls and the ability to remotely connect and disconnect services are also driving the widespread deployment of smart meters in the U.S.

Analyst Perspective

The smart electricity meters market is gradually shifting from a hardware-driven utility upgrade cycle to a broader digital energy management ecosystem. Utilities are increasingly using smart meters not just for automated billing but also to improve grid visibility, reduce power losses, and manage energy demand more efficiently. This is creating long-term opportunities for companies that can provide reliable data management, communication infrastructure, and large-scale deployment capabilities. As power networks become more decentralized and digitally connected, utilities are expected to prioritize systems that support real-time monitoring and smarter distribution planning. Over time, market leadership is likely to favor players that can combine metering technology with software integration, analytics capabilities, and long-term service support rather than equipment supply alone.

Phase Insights

The single-phase segment led the market in 2025, accounting for over 90.0% share of the global revenue. Single-phase electricity meters are electronic devices used to measure energy consumption and quality factor, and to provide methods to prevent tampering. The single-phase segment generated significant revenue over the forecast period, owing to its suitability for high-capacity industrial facilities and utility-maintained power networks. Escalation in the rate of urbanization, combined with favorable regulatory policies aimed at upgrading small-scale industries in emerging countries, is likely to stimulate growth in the smart electricity meter market segment. For instance, in March 2025, Landis+Gyr, a prominent player in smart meter manufacturing, announced the commercial availability of the Revelo Cellular Grid Sensing Platform. In the press release, they highlighted that this platform service can be deployed across any residential electricity network using advanced smart metering infrastructure. This investment signifies continued support for single-phase smart meter technologies used by households and small businesses.

The three-phase segment is anticipated to witness substantial growth over the forecast period. The 3-phase electric meter is generally used to measure the power of a three-phase electrical source, and its most common application is in the commercial sector. The increasing demand for reliable power supply in business processes such as logistics, hospitality, education, and oil & gas is expected to drive the adoption of three-phase smart electricity meter systems. The use of smart, efficient control and monitoring devices is improving billing accuracy in the service sector, including in private offices, data centers, and government buildings.

End use Insights

The residential end-use segment led the market in 2025, accounting for over 85.0% of global revenue. Consistent expansion in residential establishments, driven by surging populations and per capita incomes, is a key driver of smart electric meter adoption. The smart metering trend is gaining prominence in many countries, including Italy, Germany, Sweden, the U.S., Canada, and the UK. For instance, as of January 2023, Germany announced the acceleration of the smart meter rollout. Berlin has launched a bid to accelerate the rollout of smart meters, allowing households to manage electricity consumption and sign up for flexible pricing contracts. The rollout of smart meters in Berlin is likely to be supported by government policies and funding, as well as the city's strong commitment to sustainability and to reducing carbon emissions.

The commercial segment is anticipated to witness substantial growth over the forecast period. The commercial end-use segment includes commercial buildings and related infrastructure, such as hotels, residential lodges, small- to large-scale shopping complexes, and offices. The rise in proposals for smart grid adoption, coupled with administrative regulations and policy standardization by government authorities in developed countries across Europe and North America, is expected to create significant opportunities in the commercial sector. The commercial sector is expected to be the most lucrative segment of the smart electricity meter market in the coming years. Smart electricity meters empower customers to make informed decisions about their energy use. Utilities install shared communication systems that show precise, instantaneous information on electricity usage in the business, both the energy supplier and the consumer. Many customers, especially those with multiple locations, can realize significant service enhancements and cost savings by sourcing a national agreement.

Regional Insights

Asia Pacific dominated the market in 2025, accounting for over 40.0% share of the global revenue. Rapid demographic changes, an increasing urban population, and rapid growth in industrial activity are strong drivers of smart electricity meter consumption over the forecast period. China is expected to hold a leading share of the Asia Pacific smart electricity meter market. For instance, in March 2025, Itron and CHINT Global, a global manufacturer of electrical equipment and smart energy solutions based in China, announced their new DLMS Generic Companion Profile (GCP) standards-based residential smart meter to the market, an industry first. This launch reflects China’s leading role in the manufacturing of technological products and its dominant position in the Asia Pacific smart electricity meters market.

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Europe Smart Electricity Meters Market Trends

Europe is anticipated to witness significant growth over the forecast period. The primary driver of market growth in the region is strong government initiatives to implement smart electricity metering. For instance, in September 2025, ESB Networks, a licensed Distribution System Operator (DSO) of the Republic of Ireland, announced that over 2 million smart meters have been rolled out across Ireland as part of its National Smart Metering Program. The utility reported that 80% of the nation's homes, farms, and businesses have already had smart meters installed.

Key Smart Electricity Meters Market Companies Insights

The smart electricity meter market is growing rapidly. Highly differentiated products are further increasing competitive rivalry. The presence of prominent players, such as GE, ABB Ltd., and Schneider Electric, and the companies' strategic initiatives, such as frequent partnerships, mergers, acquisitions, expansions, and strategic alliances, along with increasing R&D spending, are intensifying competition in the industry. For instance, in February 2023, Itron Inc collaborated with SEW, a prominent provider of cloud-based software solutions for the energy and water industries. The collaboration aims to develop new solutions that leverage Itron's OpenWay Riva IoT solution, which includes smart electricity meters and other smart grid technologies. Further, it would provide utilities with better insights into their customers' energy usage and help consumers better understand and manage their energy consumption.

Key Smart Electricity Meters Companies

The following key companies have been profiled for this study on the smart electricity meters market:

• ABB Ltd.

• General Electric

• Holley Technology Ltd.

• Elster Group SE

• Iskraemeco D.D.

• Itron, Inc.

• Landis+Gyr

• Schneider Electric SE

• Siemens AG

Recent Developments

• In February 2026, Adani Energy Solutions Limited (AESL) announced that it had successfully installed more than 10 million smart electricity meters across India, marking a significant milestone in large-scale smart meter deployment. The company also holds a mandate to install approximately 25 million smart meters across five states, with an installation pace of nearly 25,000 meters per day. The development highlights the accelerating adoption of smart metering infrastructure to improve energy management, billing efficiency, and grid modernization.
• In March 2025, Siemens Smart Infrastructure partnered with CPFL Energia to modernize approximately 1.6 million electricity meters in São Paulo, Brazil, by 2029. As part of the project, Siemens is deploying its Gridscale X Meter Data Management platform to support large-scale smart meter integration, enhance grid visibility, and improve operational efficiency across electrical distribution networks.

Global Smart Electricity Meters Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global smart electricity meters market report based on phase, end use, and region:

• Phase Outlook (Revenue, USD Billion, 2021 - 2033)
  • Single-Phase
  • Three-Phase
• End Use Outlook (Revenue, USD Billion, 2021 - 2033)
  • Residential
  • Commercial
  • Industrial
• Regional Outlook (Revenue, USD Billion, 2021 - 2033)
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Netherlands
  • Asia Pacific
    • South Korea
    • China
    • Japan
  • South America
    • Brazil
  • Middle East and Africa (MEA)