Smart Electricity Meters Sector: Growth Drivers and Challenges
Growth Drivers
- Increasing demand for efficient data monitoring systems
- Favorable government policies for smart meter rollout
Challenges
- Expensive installation charges
- Lack of awareness about smart technology in lower economic regions
Smart Electricity Meters Market: Key Insights
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
7.5% |
|
Base Year Market Size (2024) |
USD 13.29 billion |
|
Forecast Year Market Size (2037) |
USD 34.03 billion |
|
Regional Scope |
|
Browse key industry insights with market data tables & charts from the report:
Frequently Asked Questions (FAQ)
In the year 2025, the industry size of smart electricity meters is assessed at USD 14.14 billion.
Smart Electricity Meters Market size was over USD 13.29 billion in 2024 and is projected to reach USD 34.03 billion by 2037, witnessing around 7.5% CAGR during the forecast period i.e., between 2025-2037.
Asia Pacific industry is anticipated to hold largest revenue share by 2037, due to rise in capital investments in smart grid technologies and smart cities.
The major players in the market are ABB, Itron Inc., GENERAL ELECTRIC, and Wasion Group, among others.
