US Smart Meter Market Size, Share, Trends, & Industry Analysis By Component (Hardware and Software), By Type, By Technology, By End Use, and By Country – Market Forecast, 2025–2034
Description
The us smart meter market size is expected to reach USD 7.87 Billion by 2034, according to a new study by Polaris Market Research. The report “US Smart Meter Market Size, Share, Trends, & Industry Analysis By Component (Hardware and Software), By Type, By Technology, By End Use, and By Region – Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The U.S. smart meter market is expanding due to the rising need for efficient and data-driven solutions for managing energy, water, and gas services. Advanced meters reduce operational costs, improve billing accuracy, and support more reliable delivery of utility providers. These systems offer real-time data and remote monitoring capabilities, allowing providers to respond quickly to outages, track consumption patterns, and manage demand more effectively.
US smart meter market is growing, fueled by strong policy support, grid modernization programs, and rising adoption of electric vehicles and rooftop solar systems. Utilities shifting toward dynamic and flexible energy models increasingly rely on smart meters to improve operational efficiency and promote sustainable resource management. States across the country are investing in these systems to improve infrastructure, streamline operations, and prepare for future energy needs.
US Smart Meter Market Report Highlights
In terms of component, the hardware component segment held the largest market share in 2024, driven by substantial deployments of physical smart metering devices across residential, commercial, and industrial facilities globally.
Based on type, the smart water meter category is expected to register the highest growth rate through 2034, propelled by utility sector priorities including water resource conservation, leakage reduction, and improved billing precision.
In terms of technology, the advanced metering infrastructure (AMI) segment captured the dominant revenue share in 2024, owing to its superior capabilities enabling bidirectional communication, real-time pricing models, and sophisticated grid optimization features.
In terms of end use, the commercial end-use segment is forecast to experience the most rapid expansion during the projection period, motivated by growing corporate requirements for detailed consumption analytics, expenditure control, and environmental impact monitoring in commercial properties.
A few global key market players include ABB Group, Aclara Technologies LLC (Hubbell Incorporated), Badger Meter Inc., Diehl Metering U.S., Elster Group GmbH (Honeywell International Inc.), General Electric Company, Honeywell International Inc., Itron Inc., Kamstrup A/S, Landis+Gyr Group AG, Mueller Systems LLC.
Polaris Market Research has segmented the market report on the basis of component, type, technology, end use, and region:
By Component Outlook (Revenue, USD Billion, 2020–2034)
Hardware
Software
By Type Outlook (Revenue, USD Billion, 2020–2034)
Smart Electric Meter
Smart Water Meter
Smart Gas Meter
By Technology Outlook (Revenue, USD Billion, 2020–2034)
Automatic Meter Reading (AMR)
Advanced Meter Infrastructure (AMI)
By End Use Outlook (Revenue, USD Billion, 2020–2034)
Residential
Commercial
Industrial
The U.S. smart meter market is expanding due to the rising need for efficient and data-driven solutions for managing energy, water, and gas services. Advanced meters reduce operational costs, improve billing accuracy, and support more reliable delivery of utility providers. These systems offer real-time data and remote monitoring capabilities, allowing providers to respond quickly to outages, track consumption patterns, and manage demand more effectively.
US smart meter market is growing, fueled by strong policy support, grid modernization programs, and rising adoption of electric vehicles and rooftop solar systems. Utilities shifting toward dynamic and flexible energy models increasingly rely on smart meters to improve operational efficiency and promote sustainable resource management. States across the country are investing in these systems to improve infrastructure, streamline operations, and prepare for future energy needs.
US Smart Meter Market Report Highlights
In terms of component, the hardware component segment held the largest market share in 2024, driven by substantial deployments of physical smart metering devices across residential, commercial, and industrial facilities globally.
Based on type, the smart water meter category is expected to register the highest growth rate through 2034, propelled by utility sector priorities including water resource conservation, leakage reduction, and improved billing precision.
In terms of technology, the advanced metering infrastructure (AMI) segment captured the dominant revenue share in 2024, owing to its superior capabilities enabling bidirectional communication, real-time pricing models, and sophisticated grid optimization features.
In terms of end use, the commercial end-use segment is forecast to experience the most rapid expansion during the projection period, motivated by growing corporate requirements for detailed consumption analytics, expenditure control, and environmental impact monitoring in commercial properties.
A few global key market players include ABB Group, Aclara Technologies LLC (Hubbell Incorporated), Badger Meter Inc., Diehl Metering U.S., Elster Group GmbH (Honeywell International Inc.), General Electric Company, Honeywell International Inc., Itron Inc., Kamstrup A/S, Landis+Gyr Group AG, Mueller Systems LLC.
Polaris Market Research has segmented the market report on the basis of component, type, technology, end use, and region:
By Component Outlook (Revenue, USD Billion, 2020–2034)
Hardware
Software
By Type Outlook (Revenue, USD Billion, 2020–2034)
Smart Electric Meter
Smart Water Meter
Smart Gas Meter
By Technology Outlook (Revenue, USD Billion, 2020–2034)
Automatic Meter Reading (AMR)
Advanced Meter Infrastructure (AMI)
By End Use Outlook (Revenue, USD Billion, 2020–2034)
Residential
Commercial
Industrial
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