Advanced Metering Infrastructure Meter Market By Product Type (Smart Electricity Meters, Smart Water Meters, Smart Gas Meters); By Component (Hardware (Meters, Sensors, Communication Modules), Software (Meter Data Management, Analytics), Services (Installation, Maintenance, Upgrades)); By Technology (Power Line Communication (PLC), Radio Frequency (RF), Cellular Networks); By Application (Energy Management, Demand Response, Distribution Automation); By Geography, Segment revenue estimation, Forecast, 2024–2032.

The advanced metering infrastructure meter market was worth USD 27.5 billion in 2023 and will be worth USD 53.20 billion by 2030, growing at a CAGR of 8.6% during the forecast period.

 

The advanced metering infrastructure meter market is primarily influenced by the requirement for improved energy management and smart grid integration. AMI meters are becoming popular in governments and utility companies as they improve real-time utility use tracking, lower costs of operation, and improve the distribution grid. For instance, the U.S. Department of Energy has spelled out goals to roll out tens of millions of smart meters and save as much as 15 percent of electricity consumption through accurate metering and consumer knowledge. More recent innovations are using Internet of Things (IoT) technology on the AMI meters to effectively send information and analytic information for optimum energy use. European and Asian countries have also implemented smart metering deployment strategies to meet climate change objectives and cut CO2 emissions. These initiatives are deploying AMI meters to a large extent and are one of the main growth factors for the market.

 

The Advanced Metering Infrastructure (AMI) Meter market holds great potential as the world smart grid investments could reach $200+ billion by 2030. AMI meters can benefit utilities by enabling them to better manage the energy flow, minimizing power blackouts, and increasing customer loyalty. For example, AMI meters can detect energy theft or electrical faults on the spot, thus saving the utility time to respond and reducing losses to as low as one-third.  Some of the latest changes include the incorporation of renewables like solar and wind into the grid, which calls for smart meters mainly used in energy metering. Also, with its constantly developing urbanization, especially in Asia-Pacific, governments encourage the implementation of smart meters in millions of homes to mitigate energy waste. Given the continuing development of the global energy demand, this opens up vast market opportunities for the AMI market.

 

 

Market Segmentation

By Product Type:

• Smart Electricity Meters

• Smart Water Meters

• Smart Gas Meters

 

By Component:

• Hardware (Meters, Sensors, Communication Modules)

• Software (Meter Data Management, Analytics)

• Services (Installation, Maintenance, Upgrades)

 

By Technology:

• Power Line Communication (PLC)

• Radio Frequency (RF)

• Cellular Networks

 

By Application:

• Energy Management

• Demand Response

• Distribution Automation

 

By Region

North America

• US

• Mexico

• Canada

• Rest of North America

 

Europe

• Switzerland

• Russia

• France

• Germany

• U.K

• Finland

• Turkey

• Netherlands

• Belgium

• Spain

• Italy

• Rest of Europe

 

Asia Pacific

• India

• China

• South Korea

• Japan

• Singapore

• Thailand

• Indonesia

• Malaysia

• Philippines

• Australia

• Rest of Asia-Pacific

 

LAMEA

• Brazil

• Argentina

• Uruguay

• Saudi Arabia

• Rest of LAMEA

 

Segment Analysis of Advanced Metering Infrastructure (AMI) Meter Market

By Product Type:

Leading Segment: Smart Electricity Meters

Smart electricity meters dominate the AMI meter market, making up the largest share of the total market. These meters are essential for monitoring & managing electricity consumption, providing utilities with real-time data to improve operational efficiency & reduce costs. Smart electricity meters are increasingly being adopted due to their ability to provide two-way communication, enable dynamic pricing & support grid modernization initiatives. In 2024, this segment accounted for over 60% of the total AMI meter market. The increasing demand for energy efficiency & the need for better grid management are key factors driving this dominance, especially in regions like North America and Europe.

Fastest-Growing Segment: Smart Gas Meters

The fastest-growing segment within the AMI meter market is the smart gas meters segment, with a CAGR of 12-15% expected over the next few years. This growth is driven by the increasing demand for better gas usage monitoring and management in both residential & commercial applications. Smart gas meters allow for more accurate billing, leak detection, and efficient gas distribution. As governments & utilities implement stricter regulations regarding gas consumption & safety, the adoption of smart gas meters is expected to grow rapidly, particularly in Europe & Asia-Pacific.

 

By Component:

Leading Segment: Hardware (Meters, Sensors, Communication Modules)

Hardware components, including meters, sensors & communication modules, represent the largest portion of the AMI meter market. These components are critical for data collection and transmission, forming the backbone of the AMI system. In 2024, the hardware segment held a market share of around 55%, driven by the need for accurate & durable meters capable of withstanding various environmental conditions. As utilities invest in grid modernization, the demand for high-quality hardware components continues to increase.

Fastest-Growing Segment: Services (Installation, Maintenance, Upgrades)

The services segment, particularly installation, maintenance, and upgrades, is the fastest-growing component of the AMI meter market, with a CAGR of 10-13%. As more utilities deploy smart meters, the demand for ongoing support, including system maintenance and software upgrades, is accelerating. The rise of complex, interconnected AMI systems increases the need for expert installation & continuous service, especially in emerging markets where the transition to smart metering is gaining momentum.

 

By Technology:

Leading Segment: Power Line Communication (PLC)

Power Line Communication (PLC) technology is the leading technology segment in the AMI meter market. PLC is used extensively for communication between smart meters and utility control centers over existing power lines. It offers a cost-effective solution for remote areas and has the advantage of not requiring additional communication infrastructure. PLC technology remains the most widely deployed in both urban and rural areas, particularly in North America and Europe.

Fastest-Growing Segment: Cellular Networks

Cellular networks are the fastest-growing technology segment in the AMI meter market, with a CAGR of 15-18%. Cellular technology enables utilities to remotely collect meter data via mobile networks, providing high scalability & coverage, particularly in urban areas. The growing proliferation of 4G & 5G networks is enhancing the capabilities of cellular AMI solutions, making them increasingly attractive for large-scale deployments. This growth is particularly evident in APAC, where urbanization & the adoption of smart cities are accelerating the demand for cellular-based AMI systems.

 

By Application:

Leading Segment: Energy Management

Energy management is the leading application segment in the AMI meter market. The ability to monitor, control & optimize energy consumption is critical for both utilities and consumers. Smart meters enable real-time data collection that helps reduce energy wastage, enhance grid reliability, and promote energy efficiency. As governments & industries continue to prioritize sustainability, energy management solutions driven by AMI are growing in demand. In 2024, this application accounted for 45-50% of the market share, with strong growth in both residential & commercial sectors.

Fastest-Growing Segment: Demand Response

Demand response is the fastest-growing application for AMI meters, with a CAGR of 18-20%. This segment is growing because utilities need to balance supply and demand, especially with more renewable energy sources. AMI systems help by providing real-time communication between utilities & consumers, allowing for dynamic pricing and energy management. As utilities and governments adopt smart grid technologies, demand response will quickly become more common, especially in North America & Europe where smart grid infrastructure is already strong.

 

By Region:

Leading Region: North America

North America holds the largest market share in the AMI meter market, driven by substantial investments in grid modernization and the widespread adoption of smart metering systems across the United States and Canada. In 2024, North America accounted for over 35% of the global market share. The region’s strong regulatory push for energy efficiency & the integration of renewable energy sources into the grid are key factors driving the demand for AMI solutions. Major utility providers are investing heavily in smart metering infrastructure, contributing to North America's market leadership.

Fastest-Growing Region: Asia-Pacific

Asia-Pacific is the fastest-growing region for the AMI meter market, with a CAGR of 12-15% expected over the next several years. The growth in this region is driven by rapid urbanization, rising energy demand, and government initiatives in countries like China, India, and Japan to improve energy efficiency. As the region moves toward smart grid infrastructure and renewable energy integration, the adoption of smart meters is accelerating. Moreover, the increasing awareness of environmental sustainability & energy conservation among governments and consumers in the region further drives the adoption of AMI systems.

 

Key Players

• Itron Inc.

• Siemens AG

• Landis+Gyr

• Schneider Electric

• Honeywell International Inc.

• Aclara Technologies LLC

• General Electric

• Sensus (Xylem)

• Kamstrup

• Badger Meter, Inc.

 

Advanced Metering Infrastructure (AMI) Meter Market Report Coverage

Report Attribute	Details
Forecast Period	2023 – 2030
Market Size Value in 2023	USD 27.5 billion
Revenue Forecast in 2030	USD 53.20 billion
Overall Growth Rate	CAGR of 8.6%
Base Year for Estimation	2022
Historical Data	2017 – 2021
Unit	USD Billion, CAGR (2023 - 2030)
Segmentation	By Product Type, By Component, By Technology, By Application, By Region
By Product Type	Smart Electricity Meters, Smart Water Meters, Smart Gas Meters
By Component	Hardware (Meters, Sensors, Communication Modules), Software (Meter Data Management, Analytics), Services (Installation, Maintenance, Upgrades)
By Technology	Power Line Communication (PLC), Radio Frequency (RF), Cellular Networks
By Application	Energy Management, Demand Response, Distribution Automation
By Region	North America, Europe, Asia Pacific, LAMEA
Country Scope	US, Mexico, Canada, Germany, UK, France, China, Japan, India, etc.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs.