Global Smart Meters Market 2020-2027 by Component, Technology (AMR, AMI), Communication Type (Cellular, RF, PLC), Phase, Specification (SMETS1, SMETS2), Application (Electricity, Gas, Water), End Use (Residential, Commercial, Industrial), and Region: Trend Outlook and Growth Opportunity
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Global smart meters market will reach $27.3 billion by 2027, growing by 8.4% annually over 2020-2027 driven by the advancements in metering technologies, rising awareness among people regarding energy conservation, and surging government initiatives. The sales volume will register a 2020-2027 CAGR of 6.2%.
Highlighted with 83 tables and 84 figures, this 156-page report “Global Smart Meters Market 2020-2027 by Component, Technology (AMR, AMI), Communication Type (Cellular, RF, PLC), Phase, Specification (SMETS1, SMETS2), Application (Electricity, Gas, Water), End Use (Residential, Commercial, Industrial), and Region: Trend Outlook and Growth Opportunity” is based on a comprehensive research of the entire global smart meters market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2017-2019 and provides estimate/forecast from 2020 till 2027 with 2019 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)
In-depth qualitative analyses include identification and investigation of the following aspects:
• Market Structure
• Growth Drivers
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter’s Fiver Forces
The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19. The balanced (most likely) projection is used to quantify global smart meters market in every aspect of the classification from perspectives of Component, Technology, Communication Type, Phase, Specification, Application, End Use, and Region.
Based on Component, the global market is segmented into the following sub-markets with annual revenue for 2017-2027 included in each section.
• Hardware
• Software & Service
Based on Technology, the global market is segmented into the following sub-markets with annual revenue for 2017-2027 included in each section.
• Automatic Meter Reading (AMR)
• Advanced Metering Infrastructure (AMI)
Based on Communication Type, the global market is segmented into the following sub-markets with annual revenue for 2017-2027 included in each section.
• Cellular Technology
• Radio Frequency (RF)
• Power Line Communication (PLC)
• Other Communication Types
Based on Phase, the global market is segmented into the following sub-markets with annual revenue for 2017-2027 included in each section.
• Single-phase Smart Meters
• Three-phase Smart Meters
Based on Specification, the global market is segmented into the following sub-markets with annual revenue for 2017-2027 included in each section.
• SMETS1 Smart Meters
• SMETS2 Smart Meters
Based on Application, the global market is segmented into the following sub-markets with annual revenue for 2017-2027 included in each section.
• Smart Electricity Meters
• Smart Gas Meters
• Smart Water Meters
Based on End Use, the global market is segmented into the following sub-markets with annual revenue for 2017-2027 included in each section.
• Residential Use
• Commercial Use
• Industrial Use
Geographically, the following regions together with the listed national/local markets are fully investigated:
• APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Netherlands, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)
• North America (U.S., Canada, and Mexico)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (UAE, Saudi Arabia, South Africa)
For each aforementioned region and country, detailed analysis and data for annual revenue are available for 2017-2027. The breakdown of all regional markets by country and split of key national markets by Component, Application, and End Use over the forecast years are also included.
The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.
Key Players (this may not be a complete list and extra companies can be added upon request):
Badger Meter, Inc.
EDMI
Elster Group GmbH
Holley Metering Limited
Honeywell International Inc.
Iskraemeco
Itron Inc.
Landis+Gyr Group AG
Neptune Technology Group Inc.
Schneider Electric SA
Sensus USA Inc.
Siemens AG
(Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)
1 Introduction 8
1.1 Industry Definition and Research Scope 8
1.1.1 Industry Definition 8
1.1.2 Research Scope 9
1.2 Research Methodology 12
1.2.1 Overview of Market Research Methodology 12
1.2.2 Market Assumption 13
1.2.3 Secondary Data 13
1.2.4 Primary Data 13
1.2.5 Data Filtration and Model Design 15
1.2.6 Market Size/Share Estimation 16
1.2.7 Research Limitations 17
1.3 Executive Summary 18
2 Market Overview and Dynamics 21
2.1 Market Size and Forecast 21
2.1.1 Impact of COVID-19 on World Economy 22
2.1.2 Impact of COVID-19 on the Market 24
2.2 Major Growth Drivers 26
2.3 Market Restraints and Challenges 29
2.4 Emerging Opportunities and Market Trends 32
2.5 Porter’s Fiver Forces Analysis 36
3 Segmentation of Global Market by Component 40
3.1 Market Overview by Component 40
3.2 Hardware 42
3.3 Software & Service 43
4 Segmentation of Global Market by Technology 44
4.1 Market Overview by Technology 44
4.2 Automatic Meter Reading (AMR) 46
4.3 Advanced Metering Infrastructure (AMI) 47
5 Segmentation of Global Market by Communication Type 48
5.1 Market Overview by Communication Type 48
5.2 Cellular Technology 50
5.3 Radio Frequency (RF) 51
5.4 Power Line Communication (PLC) 52
5.5 Other Communication Types 53
6 Segmentation of Global Market by Phase 54
6.1 Market Overview by Phase 54
6.2 Single-phase Smart Meters 56
6.3 Three-phase Smart Meters 57
7 Segmentation of Global Market by Specification 58
7.1 Market Overview by Specification 58
7.2 SMETS1 Smart Meters 60
7.3 SMETS2 Smart Meters 61
8 Segmentation of Global Market by Application 62
8.1 Market Overview by Application 62
8.2 Smart Electricity Meters 64
8.3 Smart Gas Meters 65
8.4 Smart Water Meters 66
9 Segmentation of Global Market by End Use 67
9.1 Market Overview by End Use 67
9.2 Residential Use 69
9.3 Commercial Use 70
9.4 Industrial Use 71
10 Segmentation of Global Market by Region 72
10.1 Geographic Market Overview 2020-2027 72
10.2 North America Market 2020-2027 by Country 76
10.2.1 Overview of North America Market 76
10.2.2 U.S. 79
10.2.3 Canada 82
10.2.4 Mexico 84
10.3 European Market 2020-2027 by Country 86
10.3.1 Overview of European Market 86
10.3.2 UK 89
10.3.3 France 91
10.3.4 Germany 93
10.3.5 Spain 95
10.3.6 Italy 97
10.3.7 Russia 99
10.3.8 Rest of European Market 101
10.4 Asia-Pacific Market 2020-2027 by Country 103
10.4.1 Overview of Asia-Pacific Market 103
10.4.2 China 106
10.4.3 Japan 108
10.4.4 India 111
10.4.5 Australia 113
10.4.6 South Korea 115
10.4.7 Rest of APAC Region 117
10.5 South America Market 2020-2027 by Country 119
10.5.1 Argentina 122
10.5.2 Brazil 124
10.5.3 Chile 126
10.5.4 Rest of South America Market 128
10.6 MEA Market 2020-2027 by Country 129
10.6.1 UAE 132
10.6.2 Saudi Arabia 134
10.6.3 South Africa 136
10.6.4 Other National Markets 138
11 Competitive Landscape 139
11.1 Overview of Key Vendors 139
11.2 New Product Launch, Partnership, Investment, and M&A 142
11.3 Company Profiles 143
Badger Meter, Inc. 143
EDMI 145
Elster Group GmbH 146
Holley Metering Limited 147
Honeywell International Inc. 148
Iskraemeco 149
Itron Inc. 150
Landis+Gyr Group AG 151
Neptune Technology Group Inc. 152
Schneider Electric SA 153
Sensus USA Inc. 154
Siemens AG 155
Related Reports and Products 156
Research Methodology:
Smart Meters Market Size Estimation
To estimate market size and trends, we use a combination of top-down and bottom-up methods. This allows us to evaluate the market from various perspectives—by company, region, product type, and end users.
Our estimates are based on actual sales data, excluding any discounts. Segment breakdowns and market shares are calculated using weighted averages based on usage rates and average prices. Regional insights are determined by how widely a product or service is adopted in each area.
Key companies are identified through secondary sources like industry reports and company filings. We then verify revenue estimates and other key data points through primary research, including interviews with industry experts, company executives, and decision-makers.
We take into account all relevant factors that could influence the market and validate our findings with real-world input. Our final insights combine both qualitative and quantitative data to provide a well-rounded view. Please note, these estimates do not account for unexpected changes such as inflation, economic downturns, or policy shifts.
Data Source
Secondary Sources
This study draws on a wide range of secondary sources, including press releases, annual reports, non-profit organizations, industry associations, government agencies, and customs data. We also referred to reputable databases and directories such as Bloomberg, Wind Info, Hoovers, Factiva, Trading Economics, Statista, and others. Additional references include investor presentations, company filings (e.g., SEC), economic data, and documents from regulatory and industry bodies.
These sources were used to gather technical and market-focused insights, identify key players, analyze market segmentation and classification, and track major trends and developments across industries.
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Primary Sources
As part of our primary research, we interviewed a variety of stakeholders from both the supply and demand sides to gather valuable qualitative and quantitative insights.
On the supply side, we spoke with product manufacturers, competitors, industry experts, research institutions, distributors, traders, and raw material suppliers. On the demand side, we engaged with business leaders, marketing and sales heads, technology and innovation directors, supply chain executives, and end users across key organizations.
These conversations helped us better understand market segmentation, pricing, applications, leading players, supply chains, demand trends, industry outlook, and key market dynamics—including risks, opportunities, barriers, and strategic developments.
Key Data Information from Primary Sources
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