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Digitalization is paving the road to smart city projects luring in smart meter adoption by Millennial’s.
Rapid urbanization and smart city projects are driving the smart meter market globally. Further, the growth of communication development, network infrastructure, government initiatives and investments in digital electricity infrastructure is bolstering the market growth. Innovations in software and cloud computing has also led to massive growth in the demand for smart devices making it indispensable to invest in smart meter systems. Large scale installations of the smart meters by utility providers are focused on improving the distribution networks. Various new communication technologies like 3G, 4G, 5G, along with information transmission through power line communication (PLC), radiofrequency electromagnetic radiation (RF), and cellular communication is helping the utility providers to effectively manage the energy usage. Smart meters reduce the manual meter reading costs, prevent disconnection, removes estimated billings and re-connection costs to corporations and end users. This is due to government policies framed for quick adoption to electric meters to enable energy efficiency, real time data management and avoid overuse of energy resources. The AMI technology meters are gaining traction in the market due to technological innovations and the real time readings to users and quick transmission of data to utility providers on either hourly basis or weekly basis or monthly basis.
According to the research report, "Global Smart Meter Market Outlook, 2030," published by Bonafide Research, the Global Smart Meter market was valued at more than USD 26.38 Billion in 2024, and expected to reach a market size of more than USD 41.27 Billion by 2030 with the CAGR of 7.79% from 2025-2030. Smart water meter market is expected to grow rapidly during the forecast period after the in-hand experiences of end users from smart electric meters use. Burgeoning investments by utility providers backed by government policies is causing the smart water meter adoption among the users. However, the initial costs are heavy to be borne by the utility providers to lay out the network of distribution pipelines and the network technology synchronization for real time usage bills to end users. Further, the water leaks can be identified quickly and sorted out to a less of discomfort to users with long hours of cut offs due to maintenance work. Residential users have majority of smart electric meters installed in their homes to save on electric bills. In some countries pre-paid smart meters are also available, so that the user does not overuse the electricity and manage in limited resources. The smart meter has enabled the users to shift their work from peak load bearing times to other time of the day to reduce their overall tariffs. Smart electric meters have proved to be a boon for the end users as well as utility providers as outrages can be quickly fixed and not much time wasted as earlier in traditional meters.
Asia-Pacific is the leading region in the global flooring market, driven by rapid urbanization, strong construction activities, and rising disposable incomes. Countries like China, India, and Japan are at the forefront of this growth, with increasing demand for residential, commercial, and industrial flooring solutions. The expansion of smart cities, infrastructural projects, and real estate development in these nations has significantly contributed to the market's dominance. China, in particular, plays a key role as the largest producer and consumer of flooring materials, with a strong presence in ceramic tiles, luxury vinyl tiles (LVT), and hardwood flooring. India is also experiencing a surge in demand due to growing housing projects and the influence of modern interior designs. Meanwhile, Japan’s preference for sustainable and high-quality flooring solutions has bolstered the region’s market growth. Apart from residential demand, Asia-Pacific's booming commercial sector, including offices, hotels, and retail spaces, is fueling the need for resilient and non-resilient flooring. Additionally, increasing investments in industrial and manufacturing sectors are further supporting the demand for durable, high-performance flooring solutions. With continued infrastructure development and technological advancements in flooring materials, Asia-Pacific is expected to maintain its leadership in the global flooring market.
The global smart meter market is segmented into electric, gas, and water smart meters, each playing a crucial role in modern energy and utility management. Electric smart meters dominate the market, driven by growing electricity consumption, grid modernization, and increasing adoption of renewable energy sources. These meters enable real-time monitoring, reduced power outages, and enhanced energy efficiency. Gas smart meters are gaining popularity due to the rising use of natural gas in residential and industrial sectors. They help in accurate billing, leak detection, and remote monitoring, reducing energy wastage. Meanwhile, water smart meters are essential for efficient water management and conservation, particularly in regions facing water scarcity. These meters allow real-time tracking of water usage and help utilities detect leaks and unauthorized consumption, ensuring sustainability.
The Advanced Metering Infrastructure (AMI) and Automated Meter Reading (AMR) are the two key technologies in the smart meter market. AMI offers two-way communication between consumers and utilities, enabling real-time energy monitoring, demand response programs, and remote disconnection. It is the preferred choice for utilities aiming for smart grid integration. AMR technology, on the other hand, is a cost-effective solution that allows utilities to collect meter readings remotely without requiring manual intervention. While AMR is widely used due to its ease of implementation, the transition to AMI is accelerating, driven by the need for more advanced energy management solutions. The residential sector is the largest consumer of smart meters due to the rising adoption of home automation and energy-efficient technologies. Governments worldwide are mandating the deployment of smart electricity and water meters to enhance energy conservation and reduce utility costs for households.
The commercial sector, including offices, shopping malls, and hotels, is also witnessing significant adoption of smart meters. These meters help in monitoring peak energy consumption, optimizing usage, and reducing operational costs. In the industrial sector, smart meters play a critical role in monitoring large-scale energy consumption, preventing equipment failures, and improving energy efficiency. Industrial facilities benefit from real-time data analytics and load balancing, ensuring sustainable energy management. The hardware segment includes the physical smart meter devices, communication modules, and networking infrastructure. Advanced meters are being equipped with IoT sensors and AI-based analytics capabilities to provide precise energy consumption data. The software & services segment is growing rapidly as utilities and consumers demand cloud-based energy management platforms, predictive analytics, and demand response solutions. Software solutions enable utilities to analyze consumption patterns, detect fraud, and optimize grid operations, making them a key driver in the smart meter market.
Uses existing power lines for data transmission, making it a cost-effective solution for electric smart meters. Utilizes 3G, 4G, and 5G networks to enable real-time, remote monitoring of electricity, gas, and water meters. Radio Frequency (RF employs wireless communication for smart meter networks, ensuring faster data transmission in both urban and rural settings. Other Communication Types includes Wi-Fi, Zigbee, and LoRaWAN, which offer low-power, long-range data transmission for smart metering applications. Single-phase smart meters are predominantly used in residential applications, where power consumption is relatively lower. These meters provide accurate billing, real-time consumption tracking, and integration with smart home systems. Three-phase smart meters, on the other hand, are essential for industrial and commercial sectors, where higher power loads are required. These meters enable advanced grid management, load balancing, and energy efficiency optimization, making them a critical component in smart grid initiatives.
According to the research report, "Global Smart Meter Market Outlook, 2030," published by Bonafide Research, the Global Smart Meter market was valued at more than USD 26.38 Billion in 2024, and expected to reach a market size of more than USD 41.27 Billion by 2030 with the CAGR of 7.79% from 2025-2030. Smart water meter market is expected to grow rapidly during the forecast period after the in-hand experiences of end users from smart electric meters use. Burgeoning investments by utility providers backed by government policies is causing the smart water meter adoption among the users. However, the initial costs are heavy to be borne by the utility providers to lay out the network of distribution pipelines and the network technology synchronization for real time usage bills to end users. Further, the water leaks can be identified quickly and sorted out to a less of discomfort to users with long hours of cut offs due to maintenance work. Residential users have majority of smart electric meters installed in their homes to save on electric bills. In some countries pre-paid smart meters are also available, so that the user does not overuse the electricity and manage in limited resources. The smart meter has enabled the users to shift their work from peak load bearing times to other time of the day to reduce their overall tariffs. Smart electric meters have proved to be a boon for the end users as well as utility providers as outrages can be quickly fixed and not much time wasted as earlier in traditional meters.
Asia-Pacific is the leading region in the global flooring market, driven by rapid urbanization, strong construction activities, and rising disposable incomes. Countries like China, India, and Japan are at the forefront of this growth, with increasing demand for residential, commercial, and industrial flooring solutions. The expansion of smart cities, infrastructural projects, and real estate development in these nations has significantly contributed to the market's dominance. China, in particular, plays a key role as the largest producer and consumer of flooring materials, with a strong presence in ceramic tiles, luxury vinyl tiles (LVT), and hardwood flooring. India is also experiencing a surge in demand due to growing housing projects and the influence of modern interior designs. Meanwhile, Japan’s preference for sustainable and high-quality flooring solutions has bolstered the region’s market growth. Apart from residential demand, Asia-Pacific's booming commercial sector, including offices, hotels, and retail spaces, is fueling the need for resilient and non-resilient flooring. Additionally, increasing investments in industrial and manufacturing sectors are further supporting the demand for durable, high-performance flooring solutions. With continued infrastructure development and technological advancements in flooring materials, Asia-Pacific is expected to maintain its leadership in the global flooring market.
The global smart meter market is segmented into electric, gas, and water smart meters, each playing a crucial role in modern energy and utility management. Electric smart meters dominate the market, driven by growing electricity consumption, grid modernization, and increasing adoption of renewable energy sources. These meters enable real-time monitoring, reduced power outages, and enhanced energy efficiency. Gas smart meters are gaining popularity due to the rising use of natural gas in residential and industrial sectors. They help in accurate billing, leak detection, and remote monitoring, reducing energy wastage. Meanwhile, water smart meters are essential for efficient water management and conservation, particularly in regions facing water scarcity. These meters allow real-time tracking of water usage and help utilities detect leaks and unauthorized consumption, ensuring sustainability.
The Advanced Metering Infrastructure (AMI) and Automated Meter Reading (AMR) are the two key technologies in the smart meter market. AMI offers two-way communication between consumers and utilities, enabling real-time energy monitoring, demand response programs, and remote disconnection. It is the preferred choice for utilities aiming for smart grid integration. AMR technology, on the other hand, is a cost-effective solution that allows utilities to collect meter readings remotely without requiring manual intervention. While AMR is widely used due to its ease of implementation, the transition to AMI is accelerating, driven by the need for more advanced energy management solutions. The residential sector is the largest consumer of smart meters due to the rising adoption of home automation and energy-efficient technologies. Governments worldwide are mandating the deployment of smart electricity and water meters to enhance energy conservation and reduce utility costs for households.
The commercial sector, including offices, shopping malls, and hotels, is also witnessing significant adoption of smart meters. These meters help in monitoring peak energy consumption, optimizing usage, and reducing operational costs. In the industrial sector, smart meters play a critical role in monitoring large-scale energy consumption, preventing equipment failures, and improving energy efficiency. Industrial facilities benefit from real-time data analytics and load balancing, ensuring sustainable energy management. The hardware segment includes the physical smart meter devices, communication modules, and networking infrastructure. Advanced meters are being equipped with IoT sensors and AI-based analytics capabilities to provide precise energy consumption data. The software & services segment is growing rapidly as utilities and consumers demand cloud-based energy management platforms, predictive analytics, and demand response solutions. Software solutions enable utilities to analyze consumption patterns, detect fraud, and optimize grid operations, making them a key driver in the smart meter market.
Uses existing power lines for data transmission, making it a cost-effective solution for electric smart meters. Utilizes 3G, 4G, and 5G networks to enable real-time, remote monitoring of electricity, gas, and water meters. Radio Frequency (RF employs wireless communication for smart meter networks, ensuring faster data transmission in both urban and rural settings. Other Communication Types includes Wi-Fi, Zigbee, and LoRaWAN, which offer low-power, long-range data transmission for smart metering applications. Single-phase smart meters are predominantly used in residential applications, where power consumption is relatively lower. These meters provide accurate billing, real-time consumption tracking, and integration with smart home systems. Three-phase smart meters, on the other hand, are essential for industrial and commercial sectors, where higher power loads are required. These meters enable advanced grid management, load balancing, and energy efficiency optimization, making them a critical component in smart grid initiatives.
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