Global Smart Electricity Meter Market: A Report on Growth, Trends, and Alignment with Sustainable Development Goals

Executive Summary and Market Projections

The Global Smart Electricity Meter Market is projected to demonstrate significant growth, expanding from an estimated USD 13.71 billion in 2024 to USD 22.02 billion by 2032. This represents a Compound Annual Growth Rate (CAGR) of 6.1% over the forecast period. The market’s expansion is intrinsically linked to global efforts to achieve key Sustainable Development Goals (SDGs), particularly those related to energy, infrastructure, and sustainable communities.

Contribution to Sustainable Development Goals (SDGs)

The adoption of smart electricity meters is a critical enabler for several United Nations Sustainable Development Goals. The technology’s impact extends beyond simple energy monitoring to support a global transition towards a more sustainable and equitable future.

• SDG 7 (Affordable and Clean Energy): Smart meters are fundamental to modernizing electricity grids. They improve operational efficiency, reduce energy losses, and are essential for integrating variable renewable energy sources like solar and wind, thereby ensuring access to affordable, reliable, and sustainable energy for all.
• SDG 9 (Industry, Innovation, and Infrastructure): The rollout of smart meters represents a significant upgrade to critical national infrastructure. This fosters innovation in grid management, data analytics, and energy services, building resilient infrastructure that supports economic development.
• SDG 11 (Sustainable Cities and Communities): By enabling smart grids, these meters are a cornerstone of smart city development. They help manage urban energy demand, improve grid reliability, and reduce the environmental footprint of cities, making them more inclusive, safe, and resilient.
• SDG 12 (Responsible Consumption and Production): Smart meters empower consumers with real-time data on their energy usage. This information fosters conscious energy consumption habits, promoting efficiency and contributing to more sustainable consumption patterns.
• SDG 13 (Climate Action): Through enhanced energy efficiency and better integration of clean energy, the widespread deployment of smart meters directly contributes to reducing greenhouse gas emissions, a crucial step in combating climate change.

Regional Analysis and SDG Implementation

North America

The United States is advancing its smart meter deployment, supported by government mandates and efficiency programs. This transition to Advanced Metering Infrastructure (AMI) directly supports SDG 7 and SDG 9 by enhancing grid efficiency and modernizing critical energy infrastructure. Strategic acquisitions, such as Itron’s focus on cloud-based AMI solutions and Landis+Gyr’s introduction of AI-enabled meters, highlight the region’s commitment to innovation.

Asia-Pacific

As the largest market, the Asia-Pacific region is experiencing rapid deployment driven by urbanization and rising electricity demand. National initiatives like India’s National Smart Grid Mission are accelerating the adoption of smart grid infrastructure, aligning with SDG 9 and SDG 11. Key players like Landis+Gyr and Itron are expanding their presence by providing meters tailored for the region, furthering progress towards SDG 7 by improving energy access and management in emerging economies.

Europe

The European Union’s regulatory push, which targets the replacement of 80% of conventional meters with smart meters, is a significant driver of market growth. This policy directly advances SDG 7 and SDG 13 by promoting energy efficiency and facilitating a continent-wide energy transition. Innovations from companies like Siemens and Schneider Electric, focusing on grid analytics and predictive maintenance, contribute to building the resilient infrastructure required by SDG 9.

Middle East & Africa

Rapid infrastructure development in the UAE, Saudi Arabia, and South Africa is increasing the adoption of smart meters. The technology is crucial for reducing technical and commercial losses and enabling flexible payment models, which supports the goals of SDG 7. Strategic partnerships, such as those involving Honeywell and Siemens, are instrumental in building modern, efficient energy systems in line with SDG 9.

Market Segmentation Analysis

By Phase

The market is segmented into single-phase and three-phase meters. The three-phase segment is projected to dominate, driven by its application in large-scale commercial and industrial settings. The growth in this segment supports SDG 9 by enabling greater energy efficiency and management for industries, which are major energy consumers.

• Single Phase
• Three Phase (Dominant Segment)

By Technology Type

Communication technology is a key differentiator in the market. Power Line Communication (PLC) is the leading technology due to its cost-effectiveness and ability to leverage existing utility infrastructure, making it suitable for both urban and rural deployments. This accessibility is vital for achieving the universal access goals of SDG 7.

• Radio Frequency
• Power Line Communication (Leading Technology)
• Cellular

By End-User

The residential segment holds the largest market share. The installation of smart meters in homes is critical for reducing reliance on fossil fuels and empowering consumers. By allowing households to monitor consumption and integrate renewable sources like rooftop solar, this segment directly contributes to SDG 12 (Responsible Consumption) and SDG 7 (Clean Energy).

• Residential (Largest Segment)
• Commercial
• Industrial

Competitive Landscape

Key Industry Leaders

The market is characterized by the presence of established technology firms and innovators focused on advancing smart grid solutions. These companies are pivotal in driving the technological progress necessary to meet global sustainability targets.

1. Itron
2. Landis+Gyr
3. Schneider Electric
4. Siemens
5. Honeywell
6. ABB
7. General Electric
8. Aclara Technologies LLC
9. Iskraemeco d.d.
10. Wasion
11. Jiangsu Linyang
12. Holley Technology LTD.
13. Sensus

SDGs, Targets, and Indicators Analysis

1. Which SDGs are addressed or connected to the issues highlighted in the article?

The article on the Smart Electricity Meter Market highlights technologies and initiatives that are directly relevant to several Sustainable Development Goals. The analysis connects to the following SDGs:

• SDG 7: Affordable and Clean Energy

  This is the most prominent SDG in the article. The core function of smart meters—promoting efficient energy use, enabling grid modernization, and integrating renewable energy—directly supports the goal of ensuring access to affordable, reliable, sustainable, and modern energy for all.

• SDG 9: Industry, Innovation, and Infrastructure

  The article discusses the development of “smart grid infrastructure,” “grid resilience,” and “advanced metering infrastructure (AMI).” This represents a significant upgrade to traditional energy infrastructure, fostering innovation and creating more resilient and sustainable systems, which is central to SDG 9.

• SDG 11: Sustainable Cities and Communities

  Smart meters are a foundational technology for smart cities. The article notes that “Urbanization, rising electricity demand” is a key driver for deployment. By improving energy management in urban areas, smart meters contribute to making cities more resource-efficient, resilient, and sustainable.

• SDG 12: Responsible Consumption and Production

  The technology empowers consumers and utilities to make more informed decisions about energy use. The article states that smart meters help consumers “monitor, regulate, and reduce their grid consumption,” directly promoting more sustainable consumption patterns.

• SDG 13: Climate Action

  By improving energy efficiency and facilitating the integration of renewable energy sources like solar panels, smart meters are a key tool for climate change mitigation. The article explicitly mentions that a benefit is “Reducing reliance on fossil fuels,” which is a critical action for combating climate change.

2. What specific targets under those SDGs can be identified based on the article’s content?

Based on the article’s focus, the following specific targets can be identified:

1. SDG 7: Affordable and Clean Energy

   • Target 7.3: By 2030, double the global rate of improvement in energy efficiency. The article is centered on this target, repeatedly mentioning “efficient energy monitoring,” “energy conservation,” and providing consumers “greater control over energy usage.”
   • Target 7.2: By 2030, increase substantially the share of renewable energy in the global energy mix. The article supports this by stating that smart meters help consumers with “integrating their use of renewable energy sources like solar panels.”
   • Target 7.a: By 2030, enhance international cooperation to facilitate access to clean energy research and technology…and promote investment in energy infrastructure and clean energy technology. The article describes a global market with key players like Siemens and Itron expanding into Asia-Pacific and the Middle East, forming partnerships, and investing in “smart grid infrastructure.”

2. SDG 9: Industry, Innovation, and Infrastructure

   • Target 9.1: Develop quality, reliable, sustainable and resilient infrastructure. The article’s discussion of “grid resilience,” “smart grid infrastructure,” and “modernization initiatives” directly aligns with this target.
   • Target 9.4: By 2030, upgrade infrastructure…with increased resource-use efficiency and greater adoption of clean and environmentally sound technologies. Smart meters represent a technological upgrade to make electricity infrastructure more efficient and sustainable.

3. SDG 11: Sustainable Cities and Communities

   • Target 11.b: By 2030, substantially increase the number of cities and human settlements adopting and implementing integrated policies and plans towards…resource efficiency…and resilience. The EU’s target to “replace 80% of electricity meters with smart alternatives” is a clear example of such a policy.

4. SDG 12: Responsible Consumption and Production

   • Target 12.2: By 2030, achieve the sustainable management and efficient use of natural resources. Smart meters enable this by allowing consumers and utilities to “monitor, regulate, and reduce their grid consumption.”

5. SDG 13: Climate Action

   • Target 13.2: Integrate climate change measures into national policies, strategies and planning. The article mentions “government grants and energy efficiency mandates” in the U.S. and the “EU’s target” as examples of national and regional policies that incorporate climate-friendly measures.

3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

The article implies several indicators that can be used to measure progress:

1. For SDG 7 (Affordable and Clean Energy)

   • Indicator 7.3.1 (Energy intensity): Progress is implied through phrases like “efficient energy monitoring,” “energy conservation,” and consumers’ ability to “reduce their grid consumption.” A reduction in energy consumption per capita or per unit of GDP would be a measurable outcome.
   • Indicator 7.2.1 (Renewable energy share): The article’s mention of integrating “renewable energy sources like solar panels” directly points to this indicator. The successful integration would increase the share of renewables in the energy mix.
   • Indicator 7.a.1 (International financial flows): The market’s projected growth to “USD 22.02 billion by 2032” and the strategic partnerships and contracts secured by companies like Honeywell and Siemens in the Middle East and Africa serve as a proxy for financial flows towards modern energy infrastructure.

2. For SDG 9 (Industry, Innovation, and Infrastructure)

   • Qualitative Indicators for Target 9.1: The deployment of “smart grid infrastructure” and technologies that enhance “grid resilience” are direct, though qualitative, indicators of progress toward developing more reliable and resilient infrastructure.

3. For SDG 11 (Sustainable Cities and Communities)

   • Indicator for Target 11.b: The specific policy mentioned, “The EU’s target to replace 80% of electricity meters with smart alternatives by 2027,” serves as a direct, measurable indicator of a plan being implemented for resource efficiency in human settlements.

4. For SDG 12 (Responsible Consumption and Production)

   • Indicator 12.2.2 (Domestic material consumption): Progress is implied. By enabling energy efficiency and “Reducing reliance on fossil fuels,” the technology contributes to lowering the consumption of primary energy resources.

5. For SDG 13 (Climate Action)

   • Indicator for Target 13.2: The existence of “government grants and energy efficiency mandates” and regional targets like the EU’s 80% replacement goal are concrete examples of climate change measures being integrated into national and regional policies.

4. Summary Table of SDGs, Targets, and Indicators

Source: openpr.com