According to Market Research Future, the us smart meters market is experiencing significant growth as utilities across the United States modernize their infrastructure to enhance grid management, improve energy efficiency, and empower consumers with real-time energy usage data. Smart meters, which provide two-way communication between utilities and customers, are essential for demand response, outage management, and integration of renewable energy and distributed generation. The market was valued at approximately USD 4.32 billion in 2024 and is projected to reach USD 9.46 billion by 2035, exhibiting a compound annual growth rate of 7.38% during the forecast period 2025-2035.
The US smart meters market is characterized by diverse types, technologies, components, and applications. Smart electricity meters hold the largest share, significantly outpacing other types due to the extensive integration of smart grids and the push for energy efficiency . Smart water meters are rapidly gaining market traction, driven by the increasing need for efficient water management and conservation initiatives across urban areas. Automated Meter Reading holds the largest technology share due to widespread adoption and proven reliability in enabling efficient meter reading practices, while Advanced Metering Infrastructure is emerging as a significant player, leveraging its capability to offer two-way communication and real-time data transmission. The residential segment holds the largest market share, driven by the increasing adoption of energy-efficient solutions among homeowners, while the commercial segment is expanding rapidly as businesses recognize the value of smart meters in optimizing energy consumption and reducing operational costs . Electricity metering holds the largest market share, driven by widespread adoption among utilities and the need for efficient energy management.
The US smart meters market is driven by technological advancements, consumer awareness and engagement, government regulations and incentives, integration with smart home technologies, and rising demand for energy management solutions . The integration of Internet of Things capabilities into smart meters allows for enhanced functionalities, such as remote monitoring and automated billing. By 2026, it is projected that smart meters will account for over 80% of all electricity meters in the US. Federal and state policies, such as the Energy Policy Act, encourage utilities to adopt smart metering technologies, with approximately 70% of US households expected to have smart meters installed by 2025. Nearly 50% of US households will have smart home systems that utilize smart meter data for energy management by 2026. The market for energy management systems would reach approximately $5 billion in the US, with smart meters being integral to these systems. The competitive landscape features key players including Itron, Landis+Gyr, Siemens, Honeywell, General Electric, and Schneider Electric . Recent industry developments include Itron’s introduction of its Gen6 network platform and UtilityIQ application suite to strengthen advanced metering infrastructure capabilities, Siemens’ launch of a new line of smart meters designed to support the integration of renewable energy sources, and Honeywell’s expansion of its smart meter portfolio through acquisition of a leading IoT technology firm. The US smart meters market outlook is positive, with technological advancements, regulatory support, and increasing energy efficiency demands driving growth. Opportunities lie in integration of smart grid technologies for enhanced data analytics, development of advanced cybersecurity solutions for smart meters, and expansion into rural markets with tailored smart meter solutions.
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