According to the report by Expert Market Research (EMR), the global smart meter market attained a value of around USD 32.10 billion in 2025. Aided by the increasing need for efficient energy management, rising investments in smart grid infrastructure, and supportive government policies promoting digitalisation of utility networks, the market is expected to witness substantial growth over the forecast period. The market is projected to expand at a CAGR of 8.80% between 2026 and 2035, reaching a value of approximately USD 74.61 billion by 2035.

Smart meters are advanced digital devices used to measure electricity, gas, and water consumption in real time and communicate usage data to utility providers and consumers. These meters enable accurate billing, improve grid reliability, and support efficient demand-side management, making them a critical component of modern energy and utility systems.

Smart Meter Market Trends

One of the key trends shaping the global smart meter market is the rapid deployment of smart grid technologies. Utilities are increasingly integrating smart meters with advanced metering infrastructure (AMI) to enable two-way communication, remote monitoring, and automated data collection. This integration supports real-time analytics and enhances operational efficiency.

Another notable trend is the growing adoption of smart water and gas meters alongside electricity meters. Rising concerns over resource conservation and leakage detection are driving demand for comprehensive smart metering solutions across utilities. Additionally, advancements in communication technologies such as IoT, RF mesh, and cellular networks are improving data accuracy, security, and system interoperability.

Drivers of Growth

The increasing focus on energy efficiency and sustainability is a major driver of market growth. Governments and regulatory bodies worldwide are mandating the deployment of smart meters to reduce energy losses, improve billing transparency, and empower consumers to manage consumption more effectively. Smart meters also play a vital role in integrating renewable energy sources and supporting dynamic pricing models.

Urbanisation and population growth have further increased pressure on existing utility infrastructure, necessitating the adoption of smart metering solutions for efficient resource management. Moreover, the rising demand for real-time data, coupled with the need to reduce operational and maintenance costs for utilities, is accelerating smart meter adoption.

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Smart Meter Market Forecast

Over the forecast period, the global smart meter market is expected to witness steady and sustained growth, supported by regulatory mandates, technological advancements, and the global push towards smart and sustainable utilities. With continued innovation and large-scale deployment, smart meters are poised to play a central role in modernising utility networks and enhancing energy management through 2035.