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Commercial Smart Electric Meter Market Trends

Report ID: GMI8399
Published Date: Mar 2024
Report Format: PDF

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Commercial Smart Electric Meter Market Trends

The commercial smart electric meter industry is witnessing a notable growth owing to the growing focus on data analytics and IoT integration to enhance energy management and efficiency. Demand for real-time monitoring and grid optimization drives the adoption of advanced metering infrastructure (AMI). Regulatory mandates worldwide encourage the deployment of smart meters to support sustainability goals and improve grid reliability. As per Greek Ministry of Foreign Affairs, In 2022, installations of smart meters reached 100,000 in Greece. This figure is projected subsequently escalate to a range of 800,000 to 1 million annually from 2024 to 2030.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of commercial smart electric meter was reached USD 5.2 billion in 2023 and is projected to expand at 9.6% CAGR from 2024 to 2032, driven by increasing energy consumption demands for greater efficiency and accurate monitoring.

Advanced metering infrastructure (AMI) commercial smart electric meter market is anticipated to grow at over 9.5% up to 2032, propelled by widespread adoption for real-time monitoring, remote meter reading, and two-way communication.

Asia Pacific commercial smart electric meter industry is estimated to generate more than USD 9 billion by 2032, attributed to the rising demand for energy efficiency solutions due to rising electricity consumption, and the need for accurate billing and real-time data monitoring.

Some of the top commercial smart electric meter firms are Aclara Technologies LLC, CyanConnode, General Electric Honeywell International Inc., Holley Performance Products, Inc., Iskraemeco Group, Itron Inc. Jabil Inc., Kamstrup, Kontron AG (S&T AG), LARSEN & TOUBRO LIMITED, Landis+Gyr, Mitsubishi Electric Corporation, OSAKI ELECTRIC CO., LTD., SAMI Advanced Electronics, Schneider Electric, Siemens, and Trinity Energy Systems Pvt. Ltd., among others.