How big is the U.S. smart meter market?

The U.S. smart meter market size was estimated at USD 4.37 billion in 2024 and is expected to reach USD 4.72 billion in 2025.

What is the U.S. smart meter market growth?

The U.S. smart meter market is expected to grow at a compound annual growth rate of 7.6% from 2025 to 2033 to reach USD 8.50 billion by 2033.

Which segment accounted for the largest U.S. smart meter market share?

The hardware segment dominated the market with a market share of over 76% in 2024, driven by continuous innovations aimed at enhancing accuracy, durability, and communication capabilities.

Who are the key players in U.S. smart meter market?

Some of the key players in the U.S. smart meter market include ABB Group, 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, Neptune Technology Group Inc., Sensus USA Inc. (Xylem Inc.), and Siemens AG.

What are the factors driving the U.S. smart meter market?

Key factors driving the U.S. smart meter market include the growing adoption of renewable energy and electric vehicles, growing demand for smart meters equipped with advanced analytics and grid-edge capabilities, and the growing advancements in technologies such as AI, machine learning, blockchain, and edge computing.