Global Smart Meter Installations to Exceed 3 Billion by 2030

Global smart meter adoption is accelerating worldwide, with installations surpassing 1.8 billion units by end-2024 and projected to grow at a 10% CAGR, crossing 3 billion by 2030, according to Counterpoint Research’s Global Smart Meter Report. Growth will be driven by grid modernization, regulatory mandates, and expanding deployment in emerging economies.

Regional adoption remains uneven. North America leads with 77% penetration in smart electricity metering, followed by China and Europe. However, Latin America, Africa, and South Asia present the strongest growth potential due to underdeveloped infrastructure and ongoing electrification programs. While electricity meters dominate today’s market, smart water and gas metering will surge post-2027, particularly in developed regions and gradually in emerging markets.

Connectivity technologies are evolving rapidly. Smart meters currently rely on a mix of Power Line Communication (PLC) and RF mesh, but the market is shifting toward Low Power Wide Area (LPWA) solutions such as NB-IoT, LTE-M, and 4G Cat 1 bis. These cellular standards offer better scalability, reliability, and cost efficiency. By 2030, nearly two-thirds of new smart meters will use cellular connectivity, especially for remote or large-scale deployments.

Within the cellular segment, 4G Cat 1 bis is expected to remain the leading technology, growing at an 8% CAGR (2024–2030), thanks to its optimal balance of performance, cost, and integration simplicity. Chinese manufacturers such as Sanxing Electric, Holley Technology, Jiangsu Linyang Energy, Wasion Group, and GoldCard Smart Group are leading adopters, dominating global shipments.

The Global Smart Meter Tracker and Forecast (2022–2030F) highlights how smart metering expansion is reshaping digital energy infrastructure worldwide—linking IoT innovation, sustainability, and utility modernization into a unified global transformation