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Learn about the increasing demand for electricity supply meters worldwide and how the market is expected to grow over the next seven years. Market performance is anticipated to expand with a CAGR of +4.2% reaching 409M units by 2030. In terms of value, the market is projected to increase with a CAGR of +6.4% reaching $23.3B by the end of 2030.
The smart meter shipment worldwide amounted at 23 million units in North America and 30 million units in Europe in 2019. The volume was forecast to grow in the following years, reaching more than 30 million units shipped in North America, 44 million in Europe and 122 million in Asia Pacific by 2024.
This graph shows the forecast installed base of smart meters worldwide from 2014 to 2020. In 2017, the installed base of smart electricity, gas and water meters is projected to rise to one billion.
The global smart electricity meter market was estimated at 10.4 billion U.S. dollars in 2020 and is forecast to grow to surpass 16 billion dollars in 2027. Smart electricity meters assist in the process of efficient energy use and billing by transmitting accurate and reliable consumption information between user and supplier.
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The Smart Meter Data Management Market is projected to grow at 19.4% CAGR, reaching $5.07 Billion by 2029. Where is the industry heading next? Get the sample report now!
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Statistics illustrates consumption, production, prices, and trade of Electricity Supply or Production Meters in the World from 2007 to 2024.
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Smart Meter Industry Analysis Report is Segmented by Smart Gas Meters (North America, Europe, Asia Pacific, Rest of the World), by Smart Water Meters (North America, Europe, Asia Pacific, Rest of the World), by Smart Electricity Meters (North America, Europe, Asia Pacific, Rest of the World). The Market Sizes and Forecasts are Provided in Terms of Volume (Shipment Units) for all the Above Segments.
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Statistics illustrates consumption, production, prices, and trade of Gas Supply or Production Meters in the World from 2007 to 2024.
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Explore the Smart Meter Market trends! Covers key players, growth rate 9.5% CAGR, market size $42.17 Billion, and forecasts to 2033. Get insights now!
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The global smart water meter market size reached USD 8.6 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 19.1 Billion by 2033, exhibiting a growth rate (CAGR) of 9.3% during 2025-2033. The market is experiencing steady growth driven by the growing concerns about water scarcity due to population growth, urbanization, and climate change, regulatory mandates and government policies to promote water conservation, and rising need for efficient water management.
Report Attribute
|
Key Statistics
|
---|---|
Base Year
| 2024 |
Forecast Years
|
2025-2033
|
Historical Years
|
2019-2024
|
Market Size in 2024 | USD 8.6 Billion |
Market Forecast in 2033 | USD 19.1 Billion |
Market Growth Rate 2025-2033 |
9.3%
|
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2025-2033. Our report has categorized the market based on product, meter type, configuration type, component, and application.
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Each row contains a daily load profile with 48 values (half-hourly sampling rate). The final column "Cluster Labels" stores the manual classification by domain experts. Note that -1 is used to indicate a time series has been classified as noise, while clusters
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Explore the Water Meter Market trends! Covers key players, growth rate 6.8% CAGR, market size $7.49 Billion, and forecasts to 2034. Get insights now!
Annual global investments in smart meters increased steadily between 2015 and 2022 when they amounted to 21.7 billion U.S. dollars. Smart meters are one of the components of the digital infrastructure in transmission and distribution electricity grids and are a crucial device in smart power grids.
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This statistic displays the distribution of the major electricity meter suppliers worldwide in 2017, broken down by country. In that year, China accounted for approximately 23 percent of the global electricity meter supply market.
As of May 2, 2023, the outbreak of the coronavirus disease (COVID-19) had been confirmed in almost every country in the world. The virus had infected over 687 million people worldwide, and the number of deaths had reached almost 6.87 million. The most severely affected countries include the U.S., India, and Brazil.
COVID-19: background information COVID-19 is a novel coronavirus that had not previously been identified in humans. The first case was detected in the Hubei province of China at the end of December 2019. The virus is highly transmissible and coughing and sneezing are the most common forms of transmission, which is similar to the outbreak of the SARS coronavirus that began in 2002 and was thought to have spread via cough and sneeze droplets expelled into the air by infected persons.
Naming the coronavirus disease Coronaviruses are a group of viruses that can be transmitted between animals and people, causing illnesses that may range from the common cold to more severe respiratory syndromes. In February 2020, the International Committee on Taxonomy of Viruses and the World Health Organization announced official names for both the virus and the disease it causes: SARS-CoV-2 and COVID-19, respectively. The name of the disease is derived from the words corona, virus, and disease, while the number 19 represents the year that it emerged.
Monaco led the ranking for countries with the highest population density in 2024, with nearly 26,000 residents per square kilometer. The Special Administrative Region Macao came in second, followed by Singapore. The world’s second smallest country Monaco is the world’s second smallest country, with an area of about two square kilometers, and its population only numbers around 40,000. It is a constitutional monarchy located by the Mediterranean Sea, and while Monaco is not part of the European Union, it does participate in some EU policies. The country is perhaps most famous for the Monte Carlo casino and for hosting the Monaco Grand Prix, the world's most prestigious Formula One race. The global population Globally, the population density per square kilometer stands at about 60 inhabitants, and Asia is the most densely populated region in the world. The global population is increasing rapidly, so population density is only expected to increase as well. In 1950, for example, the global population stood at about 2.54 billion people, and it reached over eight billion during 2023.
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Learn about the increasing demand for electricity supply meters worldwide and how the market is expected to grow over the next seven years. Market performance is anticipated to expand with a CAGR of +4.2% reaching 409M units by 2030. In terms of value, the market is projected to increase with a CAGR of +6.4% reaching $23.3B by the end of 2030.