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AMI Electric Meter Market Size

Report ID: GMI5694
Published Date: Oct 2024
Report Format: PDF

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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.

AMI electric meter market

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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 Report Attributes
Report Attribute	Details
Base Year:	2023
AMI Electric Meter Market Size in 2023:	USD 19.7 Billion
Forecast Period:	2024 – 2032
Forecast Period 2024 – 2032 CAGR:	6.3%
2024 – 2032 Value Projection:	USD 38 Billion
Historical Data for:	2021-2023
No. of Pages:	120
Tables, Charts & Figures:	20
Segments covered:	Application, Technology and Phase
Growth Drivers:	Favourable government regulations Renewable energy integration to smart grid infrastructure Effective monitoring & control of energy consumption Limits electricity thefts
Pitfalls & Challenges:	End user Resistance

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Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

The global market for AMI electric meter was reached USD 19.7 billion in 2023 and is estimated to grow at a 6.3% CAGR from 2024 to 2032, driven by the global rise in energy demand.

The residential segment is expected to surpass USD 18.6 billion by 2032, as advanced metering infrastructure enables customers to manage their energy consumption more efficiently, reducing energy bills.

The RF technology segment is anticipated to achieve a CAGR of over 6% through 2032, due to its efficient and reliable data transmission through existing electrical infrastructure.

The U.S. AMI electric meter market is anticipated to surpass USD 1.4 billion by 2032, driven by the need to combat non-technical losses and improve power distribution efficiency.

Prominent key players are Apator, Cisco Systems, General Electric, Honeywell International, Itron, Kamstrup, Landis+Gyr, Larsen & Toubro, Mitsubishi Electric, Schneider Electric, Sensus, Siemens, Trinity Energy Systems.