Table of Contents
Smart Meter Market Overview
Smart meter companies provide advanced devices that measure and record utility consumption, such as electricity, gas, and water, with real-time accuracy.
Unlike traditional meters, they transmit data remotely via wireless or power line communication, allowing for continuous monitoring and reduced need for manual readings.
This two-way communication enables utilities to offer dynamic pricing, provide immediate notifications, and address issues swiftly. Benefits include enhanced accuracy, efficient resource management, and detailed consumer insights.
However, challenges such as privacy concerns, high initial costs, and integration with existing systems need to be addressed.
Overall, smart meters contribute to improved utility management and the advancement of smart grid technologies.
Market Drivers
The global smart meter market is driven by several factors, including technological advancements in IoT and wireless networks, which enhance smart meter capabilities.
Government regulations and incentives promote adoption as part of energy efficiency initiatives. Increasing demand for energy conservation, urbanization, and infrastructure development further support market growth.
Consumers’ desire for real-time data and control, along with utility modernization efforts and the decreasing costs of smart meter technologies, also contribute to the market’s expansion.
Additionally, smart meters enable dynamic pricing models and demand-response programs, making them crucial for managing utility demands and optimizing resource use.
Market Size
The global smart meter market is projected to reach approximately USD 57.30 billion by 2032, up from USD 24.3 billion in 2022, growing at a CAGR of 9.20% from 2023 to 2032.
List of Major Companies
These are the top 10 companies operating in the Smart Meter Market:
Landis-Gyr
Company Overview
| Establishment Year | 1896 |
| Headquarter | Cham (ZG), Switzerland |
| Key Management | Werner Lieberherr (CEO) |
| Revenue (US$ Bn) | $ 2.0 Billion (2023) |
| Headcount | ~ 6,832 (2023) |
| Website | http://www.landisgyr.com/ |
About Landis+Gyr
Landis+Gyr, a leading player in smart meter companies, continues to advance its offerings with cutting-edge solutions.
The company recently launched the Revelo metering platform, the first IoT grid-sensing electric meter, providing utilities with high-resolution data and advanced edge computing to support reliability and distributed energy resources (DER).
Additionally, the E360 smart meter features a sustainable design and modular firmware for easy updates and future scalability.
Recent achievements include securing major contracts for deploying 1.2 million smart meters in the US and a nationwide rollout in Israel, underscoring Landis+Gyr’s ongoing leadership and expansion in the global market.
Geographical Presence
Landis+Gyr has a comprehensive global presence, with operations spanning North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
The company is headquartered in Zug, Switzerland. It maintains significant facilities and offices in key regions, including the United States, Canada, Germany, the United Kingdom, France, Australia, Japan, India, Brazil, Mexico, South Africa, and the United Arab Emirates.
This extensive geographical footprint enables Landis+Gyr to deliver tailored energy management solutions and smart grid technologies across diverse markets, addressing local energy needs and regulatory requirements effectively.
Recent Developments
- In July 2024, Landis+Gyr sold its 5% stake held by KIRKBI to Spectrum Entrepreneurial Ownership.
- In June 2024, Landis+Gyr secured a contract with Stadtwerke München to supply intelligent heat meters and communication modules.
Itron
Company Overview
| Establishment Year | 1977 |
| Headquarter | Liberty Lake, Washington, United States |
| Key Management | Tom Deitrich (CEO) |
| Revenue (US$ Bn) | $ 2.2 B (2022) |
| Headcount | ~ 5,081 (2022) |
| Website | http://www.itron.com/ |
About Itron
Itron, Inc. is a prominent player in smart meter companies, focusing on innovative solutions for energy and water resource management.
In 2024, the company reported robust financial growth with a 22% increase in revenue for Q1, reaching $603 million, and a substantial rise in profitability.
Itron’s recent initiatives include the expansion of its Temetra® platform in Australia and New Zealand to enhance water utilities’ operations with NB-IoT communications and collaboration with VODA.ai to leverage AI for detecting water pipe failures.
Additionally, Itron launched a new brand identity and secured a $700 million convertible senior notes offering to bolster its financial position.
These strategic moves, along with a strong focus on grid edge intelligence, underscore Itron’s commitment to advancing smart utility solutions globally.
Geographical Presence
Itron, Inc., headquartered in Liberty Lake, Washington, has a broad global presence, operating across North America, Latin America, Europe, the Middle East, Africa, and Asia-Pacific.
In North America, Itron supports utilities with smart metering and energy management solutions. Latin America features key markets like Brazil and Mexico, where Itron adapts its technology to local needs.
In EMEA, the company serves various countries with smart grid and metering solutions, while in Asia-Pacific, Itron focuses on markets including Australia, India, China, and Japan, addressing diverse regional demands with tailored solutions.
This extensive geographic footprint enables Itron to address global utility management challenges effectively.
Recent Developments
- In June 2024, Itron collaborated with VODA.ai to pinpoint water pipe failure with artificial intelligence.
- In April 2024, Itron partnered with Cairns Regional Council to implement its intelligent connectivity and analytics solution, featuring Intelis wSource NB-IoT water meters.
Honeywell
Company Overview
| Establishment Year | 1906 |
| Headquarter | Charlotte, North Carolina, U.S. |
| Key Management | Vimal Kapur (CEO) |
| Revenue (US$ Bn) | $ 36.6 Billion (2023) |
| Headcount | ~ 95,000 (2023) |
| Website | http://honeywell.com/ |
About Honeywell International
Honeywell International Inc. is actively involved in smart meter companies, focusing on providing advanced metering solutions for utilities.
Their portfolio includes meters equipped with remote monitoring capabilities and leak detection, catering to residential, commercial, and industrial applications.
Recent developments for Honeywell include the acquisition of Carrier’s Access Solutions for $4.95 billion, enhancing their security solutions, and a planned acquisition of CAES Systems to bolster their defense technology offerings.
Honeywell has also expanded its Honeywell Forge IoT platform, integrating AI capabilities to manage over 100 million connected assets.
These strategic initiatives reflect Honeywell’s commitment to leveraging technology for improved utility management and operational efficiency.
Geographical Presence
Honeywell International Inc. operates globally and has a significant presence across key regions. In North America, major facilities are located in the US and Canada, including R&D centers and manufacturing plants.
In Europe, Honeywell has substantial operations in both Western and Eastern countries such as Germany, France, and Poland.
The Asia-Pacific region features robust facilities in China, India, Japan, and South Korea, focusing on technology and manufacturing.
In Latin America, Honeywell has important operations in Brazil and Mexico, and in the Middle East and Africa, it maintains a presence in the UAE and South Africa.
This extensive geographical reach supports Honeywell’s diverse business segments and enables effective global market engagement.
Recent Development
- In July 2024, Honeywell agreed to purchase Air Products’ liquefied natural gas technology and equipment business for $1.8 billion.
- In July 2024, LenelS2 introduced the OnGuard Cloud.
Siemens
Company Overview
| Establishment Year | 1847 |
| Headquarter | Munich, Germany[ |
| Key Management | Roland Busch (CEO) |
| Revenue (US$ Bn) | $ 81.8 Billion (2022) |
| Headcount | ~ 320,000 (2023) |
| Website | https://www.siemens.com/ |
About Siemens
Siemens AG is a key player in smart meter companies, emphasizing cutting-edge solutions for grid and meter data management.
In 2024, Siemens introduced Gridscale X, modular software to boost grid capacity, enhance the visibility of distributed energy resources (DERs), and drive digital grid transformation.
This launch is part of Siemens Xcelerator, a digital business platform prioritizing interoperability and cybersecurity.
Siemens also relaunched its EnergyIP software as EnergyIP Mosaic, offering a better user experience, increased data transparency, and workflow efficiencies that cut task times by up to 85%.
Recent projects, such as installing 260,000 smart meters in North Delhi, underscore Siemens’ commitment to advancing smart grid technologies and supporting global energy transitions.
Geographical Presence
Siemens AG, headquartered in Munich, Germany, operates globally and has a significant presence across multiple regions.
In Europe, the company has major facilities in Germany, the UK, France, Italy, Spain, the Netherlands, and Switzerland.
In North America, Siemens is prominent in the United States and Canada. The company’s Latin American footprint includes Brazil, Argentina, and Mexico.
In the Asia-Pacific region, Siemens has substantial operations in China, India, Japan, and Australia. Its Middle Eastern and African presence is notable in the UAE, South Africa, and Saudi Arabia.
This extensive geographical reach allows Siemens to serve diverse markets and industries worldwide effectively.
Recent Development
- In February 2024, Siemens introduced Gridscale X, advancing towards autonomous grid management and accelerating digital transformation for grid operators.
- In November 2021, Siemens relaunched its EnergyIP smart meter data management software, which has now improved for a better user experience.
General-Electric
Company Overview
| Establishment Year | 1892 |
| Headquarter | Boston, Massachusetts, US. |
| Key Management | Lawrence Culp, Jr. (CEO) |
| Revenue (US$ Bn) | $ 68.0 B (2023) |
| Headcount | ~ 125,000 (2023) |
| Website | https://www.ge.com/ |
About General Electric
General Electric (GE) is a significant player in the smart meter companies, offering advanced solutions for energy management.
Recently, GE has focused on integrating Internet of Things (IoT) technologies and advanced analytics into their smart meters, allowing for real-time data collection and analysis.
This enables utilities and consumers to gain actionable insights into energy consumption patterns, enhancing grid management and improving demand response.
Notably, GE has also been involved in strategic partnerships and investments aimed at expanding its smart grid infrastructure.
For example, in 2024, GE has continued to push forward with initiatives such as the Smart Grid Investment Grant (SGIG) and collaborating with other technology providers to enhance their smart metering capabilities.
Geographical Presence
General Electric (GE), a global conglomerate, operates extensively across various regions. In North America, GE’s headquarters are in Boston, with significant facilities in states such as New York and Ohio.
In Europe, the company has a robust presence in the UK, Germany, and France, focusing on energy, aviation, and healthcare.
In Asia-Pacific, GE’s operations span major cities in China, India, and Japan. Latin America sees GE active in Brazil and Mexico, while key locations in the Middle East and Africa include the UAE and South Africa.
Additionally, GE has a notable presence in Australia and Southeast Asia, targeting emerging markets and investing in technology and innovation globally.
Recent Developments
- In July 2024, GE Aerospace planned to invest $1 billion in upgrading its global Maintenance, Repair, and Overhaul (MRO) and component repair facilities.
- In July 2024, GE secured a $24 million contract from the Defense Logistics Agency Aviation for T408 engine supplies.
Schneider
Company Overview
| Establishment Year | 1836 |
| Headquarter | Rueil-Malmaison, France |
| Key Management | Peter Herweck (CEO) |
| Revenue (US$ Bn) | $ 38.8 Billion (2022) |
| Headcount | ~ 153,121 (2023) |
| Website | https://www.se.com/ |
About Schneider Electric
Schneider Electric is a key player in the smart meter companies, driving innovations in energy management and grid solutions.
Recently, the company launched the Schneider Home energy management solution, which integrates a home battery, solar inverter, smart electrical panel, electric vehicle charger, and connected sockets, all controllable via a single app.
This system allows homeowners to optimize energy usage and prioritize power during outages, contributing to cost savings and sustainability.
Additionally, Schneider Electric announced a $140 million investment in 2024 to expand its US manufacturing operations, creating about 750 new jobs and enhancing its support for critical infrastructure and data centers.
This investment underscores the company’s commitment to boosting domestic supply chains and supporting clean energy initiatives.
Geographical Presence
Schneider Electric, a global leader in energy management and automation, operates extensively across various regions.
In North America, the company has a significant presence in the United States, Canada, and Mexico. In Europe, Schneider Electric’s headquarters are in France, with strong operations in Germany, the UK, and other Western European countries.
In Asia-Pacific, it maintains substantial operations in China, India, Japan, and Southeast Asia. In Latin America, the company has a notable presence in Brazil, Argentina, and Chile.
At the same time, in the Middle East and Africa, it operates in South Africa, the UAE, and expanding markets like Nigeria and Kenya.
Schneider Electric focuses on urbanization, sustainability, and digital transformation, adapting its solutions to local market needs and regional regulations.
Recent Developments
- In June 2024, Schneider Electric invested $23.8 million in its South Carolina manufacturing operations.
- In January 2023, Schneider Electric introduced Schneider Home, an innovative home energy management system designed to offer homeowners savings, comfort, and energy independence.
Xylem
Company Overview
| Establishment Year | 2011 |
| Headquarter | Washington, DC, US. |
| Key Management | Matthew Pine (CEO) |
| Revenue (US$ Bn) | $ 6.2 Billion (2023) |
| Headcount | ~ 23,000 (2023) |
| Website | https://xylem.com/ |
About Xylem
Xylem Inc. is an influential player in the smart meter sector, primarily focusing on water management solutions.
In 2024, Xylem continues to strengthen its market position following its acquisition of Sensus for $1.7 billion.
Sensus, known for its advanced metering infrastructure and data analytics, has significantly enhanced Xylem’s capabilities.
Recent developments include Xylem’s introduction of new residential electric meters featuring advanced grid-edge technology.
The company’s strategic efforts aim to expand its smart metering solutions globally, addressing critical water management and sustainability challenges.
Geographical Presence
Xylem Inc. operates globally and has a significant presence across various regions. In North America, the company is prominent in the US and Canada, with facilities in major cities such as New York, Toronto, and Vancouver.
In Europe, Xylem maintains key offices and facilities in both Western and Eastern Europe, including Germany, France, the U.K., Poland, and Hungary.
The Asia-Pacific region is well-served, with operations in China, India, Australia, and New Zealand. In Latin America, Xylem is active in Brazil and Mexico, while in the Middle East and Africa, it has a notable presence in Dubai, Riyadh, Johannesburg, and Nairobi.
This extensive geographical footprint enables Xylem to effectively address diverse water-related challenges worldwide.
Recent Developments
- In July 2024, Xylem launched an e-1510X Smart Pump.
- In May 2024, Xylem introduced Reuse Brew.
ABB
Company Overview
| Establishment Year | 1988 |
| Headquarter | Zürich, Switzerland |
| Key Management | Björn Rosengren (CEO) |
| Revenue (US$ Bn) | $ 32.2 Billion (2023) |
| Headcount | ~ 105,000 (2023) |
| Website | https://global.abb/ |
About ABB
ABB Ltd. is making significant strides in the smart meter sector by advancing energy efficiency and management with its innovative metering solutions.
At the 2024 Light + Building trade fair, ABB showcased its focus on digitalization and interoperability in smart buildings. The company also introduced its M1M range of smart meters in India.
Which features advanced power quality analysis and integration with the ABB Ability™ Energy and Asset Manager platform for improved monitoring.
Furthermore, ABB’s acquisition of Eve Systems enhances its home automation capabilities, strengthening its position in the smart meter market.
These initiatives underscore ABB’s dedication to energy efficiency and sustainability through advanced technology and strategic expansion.
Geographical Presence
ABB Ltd., headquartered in Zurich, Switzerland, has a significant global footprint. In Europe, the company operates extensively in Germany, the United Kingdom, Italy, France, and the Nordic countries.
In North America, ABB is prominent in the United States and Canada, focusing on industrial automation and power technologies.
South America features major operations in Brazil, Chile, and Argentina. The Asia-Pacific region, including China, India, Japan, and Australia, is critical for ABB’s industrial and energy solutions.
In the Middle East and Africa, ABB has a strong presence in the UAE, South Africa, and Saudi Arabia, emphasizing energy and automation sectors. This wide-reaching presence enables ABB to address diverse market needs worldwide effectively.
Recent Development
- In June 2024, ABB secured a deal with Cartiera Fornaci for L&W Autoline paper testing equipment at a Fagnano Olona board mill.
- In February 2022, ABB India introduced a new series of electrical measuring and power monitoring meters to the market.
Larsen-n-Toubro
Company Overview
| Establishment Year | 1946 |
| Headquarter | Mumbai, Maharashtra, India |
| Key Management | Anil Manibhai Naik (Chairman Emeritus) |
| Revenue (US$ Bn) | $ 27.0 Billion (2024) |
| Headcount | ~ 407,438 (2024) |
| Website | http://www.larsentoubro.com/ |
About Larsen & Toubro
Larsen & Toubro (L&T) is a key player in the smart meter companies, particularly in India. Recently, L&T has partnered with Trilliant for the largest Advanced Metering Infrastructure (AMI) deployment in India, scaling to over 5 million meters across Haryana and Uttar Pradesh.
This initiative is part of L&T’s broader strategy to enhance smart grid infrastructure and energy management.
Additionally, L&T has introduced a new range of electrical measuring and power monitoring meters in India, emphasizing their commitment to innovation and energy efficiency.
Geographical Presence
Larsen & Toubro (L&T) is a prominent Indian multinational conglomerate with a diverse global footprint. Headquartered in Mumbai, India, L&T operates across major states in the country and extends its reach to key regions worldwide.
In the Middle East, the company is active in the UAE, Saudi Arabia, and other countries, focusing on large-scale infrastructure projects.
Southeast Asia, South Asia, Africa, Europe, North America, Latin America, and Australia are also significant regions for L&T, where it engages in engineering, construction, and technology services.
This extensive geographical presence enables L&T to leverage its expertise in various sectors and capitalize on emerging opportunities globally.
Recent Development
- In July 2024, L&T secured a major contract from Hindustan Shipyard Limited to construct and deliver essential naval vessels.
- In July 2024, L&T Semiconductor Technologies agreed to acquire SiliConch Systems for INR 183 Crore.
Sagemcom
Company Overview
| Establishment Year | 2007 |
| Headquarter | Bois-Colombes, France |
| Key Management | Patrick Sevian (CEO) |
| Revenue (US$ Bn) | $ 3.2 Billion (2022) |
| Headcount | ~ 6,500 (2022) |
| Website | http://www.sagemcom.com/ |
About Sagemcom
Sagemcom is a leading provider of smart meter companies and is known for its innovative automated metering infrastructure (AMI) solutions for energy and water.
In 2024, Sagemcom introduced the ANSI Advanced Meter platform as part of its SICONIA® product family at DISTRIBUTECH in Orlando.
This new platform integrates edge intelligence with artificial intelligence (AI) to provide advanced energy management capabilities.
Additionally, Sagemcom is involved in significant deployments, such as supplying LTE-enabled smart meters to Enexis in the Netherlands enhancing communication and security features for better energy management.
The company’s commitment to innovation is also highlighted by its role in the “Fair Meter” concept, promoting sustainability in energy solutions.
Geographical Presence
Sagemcom, headquartered in Paris, France, operates globally and has a strong presence in key regions. In Europe, significant activities have taken place in Germany, Italy, Spain, and the UK. North America, the company is active in the US and Canada, focusing on telecommunications and energy management.
In South America, Sagemcom has notable operations in Brazil. The company also maintains a presence in the Asia-Pacific region, with operations in China, India, and Australia.
In the Middle East and Africa, Sagemcom supports smart city and telecommunications projects. Its global reach is bolstered by strategic partnerships and joint ventures, enhancing its market penetration and service delivery.
Recent Developments
- In February 2024, Sagemcom introduced cutting-edge ANSI Advanced Meter Technology.
- In February 2024, Sagemcom and IoTecha partnered to speed up the adoption of Vehicle-to-Grid technology and integration.
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