AMI Electric Meter Market Size - By Application, By Technology, By Phase & Forecast, 2024 - 2032

AMI Electric Meter Market Size

The global AMI electric meter market was valued at USD 19.7 billion in 2023 and is estimated to grow at a CAGR of over 6.3% from 2024 to 2032. Smart electric meters are advanced devices designed to monitor and record electricity consumption by end users. These meters gather usage data and relay it to utility providers. The global rise in energy demand has led to an increased need for more efficient methods of tracking energy usage to help lower electricity costs. As a result, this growing trend is anticipated to drive the development of intelligent metering technologies in the years ahead.
 

Multiple projects are being built in this industry, growing the market significantly. For instance, in December 2023, Techno Electric has secured INR 1,750 crore worth of projects in smart metering and transmission. These contracts include the deployment of advanced smart meters and key transmission infrastructure upgrades, marking a significant step in India's energy modernization efforts. This achievement positions Techno Electric as a key player in the nation's push towards energy efficiency and grid modernization.
 

AMI Electric Meter Market Trends

The regulatory push for smart grid infrastructure development, aligned with the growing renewable energy industry across regions, is positively influencing the market landscape. Grid infrastructure and limited funding have constrained growth potential, the increasing number of local meter manufacturers and government mandates for rollouts have reshaped industry dynamics.
 

The ongoing expansion and increasing share of renewables in both centralized and decentralized grid infrastructures necessitate an effective approach to grid management. For instance, In May 2024, RMEC has announced plans to roll out an Advanced Metering Infrastructure (AMI) system over the next ten months, marking a significant step forward in smart energy management. This initiative aims to enhance energy efficiency, improve billing accuracy, and empower customers with real-time data on their energy usage. The deployment of AMI will integrate cutting-edge metering technology, enabling remote monitoring.
 

AMI Electric Meter Market Analysis

Based on application, the residential segment is expected to surpass USD 18.6 billion by 2032. Advanced metering infrastructure enables customers to reduce energy bills by managing their consumption more efficiently. It also facilitates software applications that use recently captured information to restore data in case of failures. Increasing investments in the real estate industry, coupled with a growing focus on smart home development, are expected to stimulate the AMI electric meter market growth.
 

Based on technology, the RF segment is anticipated to witness more than 6% CAGR through 2032, driving the radio frequency systems offer various means of transmitting data through existing electrical infrastructure, eliminating the need for separate communication cables. This technology integrates seamlessly into electrical meters, providing an efficient and reliable solution for multiple industries. The implementation of cutting-edge technologies, like Orthogonal Frequency Division Multiplex (OFDM), is anticipated to substantially enhance communication speeds in smart metering applications.
 

The U.S. AMI electric meter market is predicted to hit USD 1.4 billion by 2032, driven by the implementation of AMI meters helps utility companies in the U.S. combat non-technical losses, such as power theft, by detecting abnormal consumption patterns. This can help save costs and improve the overall efficiency of the power distribution system. The data provided by these meters also supports utilities in better planning and management of resources, including renewable energy integration into the grid.
 

Asia Pacific AMI electric meter market is poised for robust growth, a rapid increase in smart electric meter implementation. Large-scale installations have recently commenced in Japan and South Korea, while China spearheads the region with ongoing plans to upgrade conventional electric meters. China aims to make substantial investments in its national energy infrastructure to address current energy requirements. The introduction of numerous smart city initiatives across the region is anticipated to create significant growth prospects for the industry.
 

AMI Electric Meter Market Share

Siemens, Mitsubishi Electric, Honeywell, Kamstrup and Sensus hold a significant market share. These companies are recognized for their innovative technologies and solutions that enhance energy management and efficiency., Kamstrup and Sensus specialize in electricity metering solutions, focusing on accuracy and real-time data collection. Their contributions are vital for modernizing utility infrastructures, improving customer engagement, and facilitating the transition to sustainable energy systems.
 

AMI Electric Meter Market Companies

Major players operating in the AMI electric meter industry are:

• Apator
• Cisco Systems
• General Electric
• Honeywell International
• Itron
• Kamstrup
• Landis+Gyr
• Larsen & Toubro
• Mitsubishi Electric
• Schneider Electric
• Sensus
• Siemens
• Trinity Energy Systems
   

AMI Electric Meter Industry News

• In April 2024, Itron, a global leader in innovative utility solutions, has announced its role in providing Advanced Metering Infrastructure (AMI) for Bangladesh's nationwide smart meter rollout. The initiative, aimed at modernizing the country's energy management, will significantly enhance the efficiency of electricity distribution and consumption monitoring. Itron's AMI technology will enable real-time data collection, improved billing accuracy, and greater energy savings, supporting Bangladesh's efforts to improve grid reliability and reduce energy losses.
   
• In January 2024, Xcel Energy successfully deployed 2 million Itron smart meters as part of its ambitious Integrated Advanced Metering Infrastructure (IAMI) 2.0 initiative, aiming to install a total of 3 million smart meters across its service area. The deployment is already yielding significant benefits, including enhanced grid reliability, improved energy efficiency, and better customer insights.
   

This AMI electric meter market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD Million” and “‘000 Units” from 2021 to 2032, for the following segments:

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Market, By Application

• Residential
• Commercial
• Utility

Market, By Technology

• RF
• PLC
• Cellular

Market, By Phase

• Single
• Three

The above information has been provided for the following countries across the region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Italy
• Asia Pacific
  • Japan
  • China
  • South Korea
  • India
  • Australia
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Kuwait
  • South Africa
  • Egypt
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Chile