The global smart electricity meters market size was US$ 13.9 billion in 2021. The global smart electricity meters market is forecast to grow to US$ 38.9 billion by 2030 by registering a compound annual growth rate (CAGR) of 9.1% during the forecast period from 2022 to 2030.
A smart electricity meter is an electronic device that detects the amount of electricity used by a home, business, or another electrically powered item with outstanding accuracy. A smart electricity meter provides extremely accurate data on energy usage. Moreover, smart electricity meters come in two categories, first-generation smart meters or AMR (Automated Meter Reading) meters and second-generation smart meters, also referred to as AMI (Advanced Metering Infrastructure) meters.

Factors Influencing the Market
The market for smart electricity meters is primarily driven by the growing government rules and incentives for smart meter installation. According to the US International Trade Commission, utilities are hesitant to adopt smart meter technology unless the government mandates it. The major reasons are the limited capital expenditure capability of utilities. Thus, stringent government regulations mandating the installation of smart electricity meters will fuel the growth of the market during the study period.
Net-zero aspirations and an ambitious renewable strategy will also offer lucrative growth opportunities for market growth. Further, increasing focus on lowering carbon emissions and embracing alternative fuels will benefit the smart electricity meters market during the study period. On the flip side, high initial and maintenance costs associated with smart electricity meters may limit the market growth during the forecast period.
Companies are also thriving in the market. For instance, UAB Elgama Elektronika announced in 2020 that the firm won the bidding of the Smart electricity meter project of PGE Dystrybucja S.A. and Innogy Stoen Operator. Sagemcom SAS also inked a partnership agreement with ELLEVIO and its own local partner, with the aim to improve the Swedish electricity system.

COVID-19 Impact Analysis
The COVID-19 pandemic has negatively affected the global smart electricity meters market. It is majorly attributed to the supply issues, which forced authorities to suspend production. Apart from that, the demand for commercial and industrial settings has sharply fallen after the COVID-19 pandemic. The industry is expected to recover due to the growing focus of governments on revamping the projects and lowering carbon emissions.

Regional Analysis
The Asia-Pacific smart electricity meters market is forecast to record the highest growth rate due to government mandates for grid network digitization. In addition to that, growing urbanization and industrialization in countries like India, China, Japan, etc., will boost the growth of the global smart electricity meters market. Furthermore, governments in these countries are also funding the grid expansion projects, which will benefit the smart electricity meters market in the coming years.

Competitors in the Market
Itron Inc.
Landis+Gyr
Schneider Electric SA
Siemens AG
Badger Meter
EDMI
Holley Metering Limited
Neptune Technology Group Inc.
Sensus
Honeywell International Inc.
Kaifa Technology
Suntront Technology
Kamstrup Company
Aichi Tokei Denki
Wasion Group
Other Prominent Players

Market Segmentation
The global smart electricity meters market segmentation focuses on Offering, End-Use, and Region.
By Offering
Electric
Gas
Water
By End-Use
Residential
Commercial
Industrial
By Region
? North America
o The U.S.
o Canada
o Mexico
? Europe
? Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
? Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
? Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
? Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
? South America
o Brazil
o Argentina
o Rest of South America