Smart Electric Meter Market Size

  • Report ID: 2919
  • Published Date: Sep 23, 2024
  • Report Format: PDF, PPT

Smart Electric Meter Market Size

Smart Electricity Meters Market size was valued at USD 12.36 billion in 2023 and is set to cross USD 31.65 billion by the end of 2036, expanding at more than 7.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of smart electricity meters is estimated at USD 13.1 billion.

The market is set to witness growth during the forecasted period due to the rising demand for efficient data regulatory systems coupled with favourable government policies for smart meter rollout and improved cost savings. The growth of the market can also be attributed to factors such as increasing emphasis on renewable energy sources globally.


Smart-Electric-Meter
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Author Credits:  Abhishek Verma


  • Report ID: 2919
  • Published Date: Sep 23, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Rising investments in smart grid technologies and smart cities and increasing urban population are the key factors driving the market growth.

The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.

Costly installation charges and lack of awareness about a smart electric meter in lower economic regions are estimated to hamper the market growth.

The Asia Pacific region market will provide ample growth opportunities due to the increasing awareness about the smart electric meter.

The major players dominating the smart electric meter market are ABB, Itron Inc., GENERAL ELECTRIC, and Wasion Group among others.
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