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Smart meters market expected to reach USD 22.31 billion by 2023 according to market forecasts

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The Professional Report Global Smart Meters Market Published by Genesis Market Insights. The Global Smart Meters Market Report covers in detail information of Global Strategies, market figures, Regional analysis and others. The report is easier to make a decision and can cover the required assessment and helps to drive the stronger business.

GLOBAL SMART METERS MARKET was valued at USD 12.77 Billion for the year 2017. Smart Meters Market Make an Inquiry about this news is further expected to grow at a CAGR of 9.74% from 2018 to reach USD 22.31 Billion by the year 2023.

Asia-Pacific region holds the highest market share in 2017. The Asia-Pacific region is also considered as the fastest growing market in the forecasted period.

China is the major market in 2017 at country level and it is also further anticipated to grow at a steady pace in the next 5 years.

Siemens AG (Germany), Schneider Electric (France), Honeywell International, Inc. (US), are some of the top players in the Smart Meters Market with Schneider Electric holding a substantial market share in 2017.

Better global reach at an operational level, is the main reason for holding this market share.

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Rising research and development expenses to satisfy the changing demands of end users, new product launches and organic growth strategies were few techniques adopted by various manufacturers in last 5 years.


             Increasing investments in Smart Grids

             Government Legislation and Policies


             High installation cost


             Implementation of IoT & big data analytics


             High maintenance cost

The segmentation done on the basis of Technology include Advanced Metering Infrastructure (AMI), and Automatic Meter Reading (AMR) of which the AMI segment is expected to hold the highest market share during the forecast period.

Segmentation done on the basis of Application includes an industrial, commercial and residential segment of which residential segment is expected to grow at the highest CAGR during the forecasted period.

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Key Benefits for Stakeholders

Smart Meters Manufacturers & Distributors

Research and Consulting organization

Government bodies

End-use industries

Regulatory bodies, policymakers and consumers.

By Type

Smart Water Meters

Smart Gas Meters

Smart Electric Meters

By Application




By Technology

Advanced Metering Infrastructure

Automatic Meter Reading

By Region

North America




Key Market Players

Siemens AG

EDMI Limited

Schneider Electric

Honeywell International, Inc.

Itron, Inc.

Sensus (Xylem)

Holley Metering, Limited

EDMI Limited

Badger Meter, Inc.

Aclara Technologies, LLC

Wasion Group

ICSA (India), Limited  

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