Global Power Metering Market By End-User (Residential, Commercial, and Industrial) By Type (Analog Meters, Digital Meters, and Smart Meters) By Phase (Single Phase, Three Phase), By Region, Company Forecast & Opportunities, 2021-2031F

Forecast Period	2027-2031
Market Size (2025)	USD 24.27 Billion
CAGR (2026-2031)	6.97%
Fastest Growing Segment	Digital Meters
Largest Market	North America
Market Size (2031)	USD 36.36 Billion

Market Overview

The Global Power Metering Market will grow from USD 24.27 Billion in 2025 to USD 36.36 Billion by 2031 at a 6.97% CAGR. Power metering encompasses the precise measurement and monitoring of electrical energy parameters, such as voltage, current, and overall usage, to facilitate accurate billing and resource management. The market is primarily propelled by the global imperative for grid modernization and the increasing integration of renewable energy sources, which necessitate real-time data for maintaining network stability. This transition is supported by substantial financial commitments from utility sectors aiming to upgrade aging infrastructure. For instance, according to the Edison Electric Institute, in 2024, U.S. investor-owned electric companies invested a record $178.2 billion to make the energy grid smarter, stronger, and cleaner.

Despite these robust drivers, the market faces a significant impediment regarding the substantial upfront capital required for widespread deployment. The high costs associated with replacing legacy systems and installing advanced metering infrastructure can deter utility providers, particularly in cost-sensitive markets. Furthermore, the complexity of ensuring interoperability between diverse systems and addressing emerging cybersecurity risks presents a notable barrier that could delay comprehensive market expansion globally.

Key Market Drivers

Government mandates promoting energy efficiency and smart meter rollouts serve as the primary catalyst for market expansion. Legislative bodies worldwide are enforcing strict timelines for the transition from analog to Advanced Metering Infrastructure (AMI) to enhance billing accuracy, reduce carbon footprints, and improve demand-side management. These regulatory frameworks compel utilities to replace legacy systems with intelligent, communicating assets that support national sustainability goals, effectively forcing market penetration in mature and developing economies alike. For instance, according to the Department for Energy Security and Net Zero, November 2024, in the 'Smart Meter Statistics in Great Britain' report, there were 37 million smart and advanced meters operating in homes and small businesses, representing 65% of all meters in the region.

The expansion of smart grid infrastructure and modernization projects significantly drives the demand for precise metering technologies. As utilities integrate decentralized renewable energy sources like wind and solar, they require real-time data to maintain network stability and manage bidirectional power flows. This operational shift necessitates the deployment of advanced metering solutions to handle the complexities of a modern, digitized grid. According to the International Energy Agency, June 2024, in the 'World Energy Investment 2024' report, global spending on electricity grids is projected to reach $400 billion in 2024, largely to support these clean energy transitions. Furthermore, federal initiatives are reinforcing this trend; according to the U.S. Department of Energy, in 2024, the administration announced nearly $2 billion in funding for 38 projects specifically designed to protect the grid and increase capacity.

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Key Market Challenges

The substantial upfront capital required for deployment serves as a primary constraint on the Global Power Metering Market. Utility providers encounter heavy financial obligations when transitioning from legacy analog systems to Advanced Metering Infrastructure (AMI). This expenditure encompasses not only the procurement of sophisticated hardware but also the significant costs associated with installation, backend software integration, and the maintenance of communication networks. Consequently, these high initial expenses deter decision-makers, particularly in cost-sensitive regions where budget constraints often take precedence over long-term modernization goals, leading to deferred upgrades and prolonged project timelines.

The economic burden is further intensified by the disparity in financing costs across different geographies, which directly hampers the ability of utilities to secure funding. According to the International Energy Agency, in 2024, the cost of capital for grid and clean energy projects in emerging and developing economies was at least twice as high as in advanced economies. This financial discrepancy limits the borrowing capacity of operators in these regions, making capital-intensive metering projects economically unviable. As a result, the market experiences uneven growth, with significant delays in widespread implementation in areas where capital resources are scarce.

Key Market Trends

The evolution to Advanced Metering Infrastructure (AMI) 2.0 is redefining the market by integrating Artificial Intelligence and Machine Learning directly at the grid edge. Unlike legacy systems focused primarily on billing data, these next-generation platforms leverage edge computing to process real-time waveforms and detect network anomalies instantly. This capability enables utilities to execute predictive maintenance and manage distributed energy resources with high precision, significantly reducing the data load on central servers. Underscoring this technological priority, according to Itron, October 2024, in the '2024 Resourcefulness Insight Report', 82% of utility executives surveyed stated they are in the process of adopting AI and machine learning tools, primarily to enhance grid safety and operational resilience.

Simultaneously, the adoption of Cellular IoT connectivity, including NB-IoT and 5G, is rapidly replacing proprietary radio frequency mesh networks. Utilities are increasingly utilizing public carrier networks to minimize the substantial capital costs and maintenance burdens associated with deploying private communication infrastructure. This strategic shift ensures superior signal penetration for meters located in deep indoor or rural locations and provides the low-latency communication required for modern grid management. Evidencing this trend, according to Airtel, January 2024, in a press release regarding a strategic partnership with Adani Energy Solutions, the provider confirmed a mandate to connect over 20 million smart meters using its NB-IoT technology for real-time energy monitoring.

Segmental Insights

The Digital Meters segment represents the fastest-growing category in the Global Power Metering Market due to the widespread transition from mechanical to electronic monitoring systems. This growth is largely driven by the critical requirement for precise energy measurement and the elimination of billing inaccuracies. Utility companies are aggressively adopting these devices to comply with strict energy conservation mandates from authorities such as the European Commission, which advocate for extensive grid modernization. The capability of digital meters to facilitate real-time data collection supports improved operational efficiency, thereby validating their rapid adoption over traditional analog alternatives globally.

Regional Insights

North America maintains a dominant position in the global power metering market driven by extensive investments in grid modernization and rigid regulatory mandates for energy conservation. The region prioritizes the replacement of aging infrastructure with advanced metering systems to enhance operational efficiency. Support from the U.S. Department of Energy for smart grid initiatives accelerates the widespread deployment of digital meters across residential and industrial sectors. Additionally, the increasing integration of renewable energy sources into the existing network necessitates precise monitoring tools, further securing the region's market leadership.

Recent Developments

• In March 2025, Siemens Smart Infrastructure entered into a collaboration with CPFL Energia to modernize the electricity distribution grid in Brazil through a significant smart metering project. The initiative involved the replacement of approximately 1.6 million conventional electricity meters with intelligent smart meters in São Paulo, with a target for completion by 2029. This project utilized a specialized meter data management system to handle large volumes of grid data, ensuring reliable power supply and accurate billing. The partnership aimed to digitalize the grid to improve operational efficiency, reduce non-technical losses, and support the integration of distributed energy resources.
• In November 2024, Landis+Gyr announced an extended partnership with Horizon Energy Infrastructure to support the next phase of the smart meter rollout in the United Kingdom. This five-year agreement, covering the period from 2026 to 2030, was established to assist energy retailers during a critical stage of the national installation program. The collaboration focused on leveraging data analytics to enhance the efficiency of meter deployments and optimize energy usage for consumers. By solidifying this long-term commitment, the companies aimed to stabilize the market and ensure the continued progress of the country’s smart energy infrastructure and decarbonization goals.
• In October 2024, Itron unveiled its Grid Edge Essentials solution, a pre-integrated platform engineered to provide utilities with enhanced visibility and control across the electric distribution network. This new offering combined advanced metering infrastructure, distributed intelligence, and intelligent connectivity to address foundational challenges at the grid edge. The solution was designed to streamline the adoption of grid technologies and improve data management for electricity devices, thereby reducing implementation costs. Itron emphasized that this launch would facilitate the energy transition by enabling grid operators to optimize reliability and resiliency while improving consumer engagement.
• In July 2024, Eaton announced the launch of a new generation of power quality and energy metering technology, featuring the Power Xpert energy meter. This advanced metering solution was designed to deliver high-precision monitoring with 0.1% accuracy and the capability to capture waveforms at 512 samples per cycle. The product included features such as a fourth current transformer input, time-of-use tracking, and seamless cloud connectivity to enhance power distribution monitoring. This development aimed to support power-critical facilities by ensuring compliance with stringent power quality standards and enabling facility managers to detect and resolve electrical disturbances more effectively.

Key Market Players

• Eaton Corporation PLC
• Kamstrup A/S
• Siemens AG
• Aclara Technologies LLC
• General Electric Company
• Holley Technology LTD
• Elster Group GmbH
• Landis+Gyr
• Schneider Electric
• Sensus USA Inc.

By End-User	By Type	By Phase	By Region
Residential Commercial and Industrial	Analog Meters Digital Meters and Smart Meters	Single Phase Three Phase	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Power Metering Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Power Metering Market, By End-User:

• Residential
• Commercial
• and Industrial

• Power Metering Market, By Type:

• Analog Meters
• Digital Meters
• and Smart Meters

• Power Metering Market, By Phase:

• Single Phase
• Three Phase

• Power Metering Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE