Digital Power Meter Market Size

Digital Power Meter Market size was over USD 12.62 billion in 2024 and is poised to exceed USD 57.02 billion by 2037, growing at over 12.3% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of digital power meter is evaluated at USD 15.23 billion.

The high consumption of electricity requires a digital power meter for keeping records. Global electricity consumption increased from 22,848 TWh in 2019 to 25,300 TWh in 2021 and is continue to grow by 1-2% every year, as per the International Energy Agency (IEA).

The rapid technological advancement in power monitoring management, as well as the expansion of data center infrastructure, is estimated to bring lucrative growth opportunities for the global digital power meter market. Furthermore, digital power meters are required for increasing efficiency and dependability, and to maintain a secure power distribution network. This is poised to favor the market expansion during the forecast period. In addition, the rising cost of traditional meters is propelling the global population to shift towards efficient digital power meters.