Europe Smart Electric Meter Market Size - By Application, By Technology, By Phase, Analysis, Share, & Forecast, 2025 - 2034

Europe Smart Electric Meter Market Size

The Europe smart electric meters market was valued at USD 3.8 billion in 2024 and is estimated to grow at a CAGR 4.4% from 2025 to 2034, due to the increasing demand for energy efficiency, regulatory mandates, and advancements in grid modernization. Governments across Europe are actively promoting smart metering as part of energy transition initiatives, emphasizing real-time energy monitoring and reduction of carbon footprints. The rollout of smart meters is supported by EU directives, including the Clean Energy Package, which mandates member states to achieve widespread smart meter deployment.
 

Additionally, the integration of renewable energy sources into the grid is propelling the need for precise energy management, further boosting the adoption of smart electric meters. Countries such as the UK, Germany, and France are leading the market, while emerging economies in Eastern Europe are showing significant potential. Technological advancements, such as two-way communication and Internet of Things (IoT) capabilities, are enhancing meter functionality, offering consumers better energy control and utilities improved operational efficiency.
 

Europe Smart Electric Meter Market Trends

Smart electric meters are increasingly incorporating cutting-edge technologies like IoT, artificial intelligence (AI), and machine learning. These enhancements enable real-time data analytics, predictive maintenance, and better energy consumption insights. Two-way communication capabilities are becoming standard, allowing utilities and consumers to exchange information seamlessly, leading to more efficient grid management. The global shift toward renewable energy sources, such as solar and wind, is driving demand for smart meters. These devices play a crucial role in integrating distributed energy resources (DERs) by accurately measuring energy flows and ensuring grid stability. Smart meters also facilitate net metering for consumers who generate their own electricity.
 

Governments and utilities are promoting smart meter adoption as part of energy conservation initiatives. These meters empower consumers with detailed usage data, encouraging energy-saving behaviours. Features like time-of-use (TOU) pricing allow users to optimize energy consumption during non-peak hours, contributing to cost savings and grid stability. Sustainability is a significant driver, with utilities emphasizing the use of eco-friendly materials and practices in smart meter production and deployment. Recycling programs and reduced energy consumption during manufacturing are gaining prominence.
 

Additionally, the increasing demand for renewable energy sources, electric vehicles, and smart home technologies is propelling the adoption of smart meters in residential, commercial, and industrial sectors. The growing focus on energy optimization and cost reduction, coupled with advancements in communication technologies, further supports the expansion of the smart electric meter in France.
 

Europe Smart Electric Meter Market Analysis

Based on application, the residential segment is anticipated to surpass USD 2.7 billion by 2034, due to increasing focus on energy efficiency and the widespread adoption of smart home technologies. Government mandates and policies promoting smart meter installations to optimize energy consumption and reduce carbon footprints are key growth drivers in this segment. Additionally, the growing consumer preference for real-time energy usage monitoring and control is boosting demand for smart electric meters in residential settings. These meters enable households to manage electricity consumption more effectively, leading to cost savings and sustainable energy practices.
 

Based on technology, the AMI (Advanced Metering Infrastructure) segment in the Europe smart electric meters market is projected to achieve a CAGR of over 5% through 2034, driven by the increasing demand for real-time data collection, remote monitoring, and advanced analytics. AMI systems enable utilities to gather detailed consumption data, optimize grid management, and improve operational efficiency. The adoption of AMI is further fueled by government initiatives supporting smart grid implementation, as well as the growing need for accurate billing and enhanced customer engagement. AMI solutions also facilitate integration with renewable energy sources and electric vehicle charging infrastructure, enabling utilities to manage distributed energy resources effectively.
 

The France smart electric meter market is projected to surpass USD 1.1 billion by 2034, since the country's ongoing efforts to modernize its energy infrastructure and meet energy efficiency goals. The French government's commitment to deploying smart meters as part of its broader smart grid initiatives, such as the Linky program, is a major factor fueling market growth. These smart meters enable real-time monitoring, more accurate billing, and better management of electricity consumption, which aligns with France's sustainability targets.
 

Europe Smart Electric Meter Market Share

Companies such as Itron and Siemens hold a prominent share of the Europe smart electric meter industry, capitalizing on their extensive expertise, global presence, and broad product portfolios. These industry leaders offer advanced, integrated solutions that combine IoT, AI, and cloud technologies to improve energy efficiency and water management. Their significant investments in research and development foster continuous innovation, while strategic partnerships across the commercial, industrial, and utility sectors reinforce their market position and expand their reach.
 

Europe Smart Electric Meter Market Companies

Major players operating in the Europe smart electric meters industry are:

• Aclara Technologies LLC
• Apator SA
• Circutor
• Cisco Systems, Inc.
• CyanConnode
• General Electric
• Holley Technology Ltd.
• Honeywell International Inc
• Iskraemeco Group
• Itron Inc.
• Jabil Inc.
• Kamstrup
• Kontron AG (S&T AG)
• Landis+Gyr
• LARSEN & TOUBRO LIMITED
• Mitsubishi Electric Corporation
• OSAKI ELECTRIC CO., LTD.
• Schneider Electric
• Sensus
• Siemens
• ZIV
   

Europe Smart Electric Meter Industry News

• In June 2023, Kamstrup won a significant contract through a competitive tender with BKW Energie AG, a Bern-based energy and infrastructure company. The agreement includes supplying 404,000 OMNIPOWER electricity meters and a head-end system.
   

This Europe smart 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 2034, for the following segments:

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Market, By Application

• Residential
  • Single Family
  • Multi Family
• Commercial
  • Education
  • Healthcare
  • Retail
  • Logistics & Transportation
  • Offices
  • Hospitality
  • Others
• Utility

Market, By Technology

• AMI
  • RF
  • PLC
  • Cellular
• AMR

Market, By Phase

• Single
• Three

The above information has been provided for the following countries:

• UK
• France
• Germany
• Italy
• Russia
• Spain