Who are the key players in North America Smart Meter Market industry?

Top 5 players in the North America Smart Meter Market include Itron Inc., Landis+Gyr, Sensus (Xylem Inc.), Siemens AG, and Honeywell International Inc. These companies are renowned for their advanced metering solutions, innovation in grid technologies, and extensive partnerships with utility service providers across the region.

What is the North America Smart Meter Market growth?

The North America Smart Meter Market is witnessing steady growth, driven by government mandates and rising adoption of smart grid technologies. In 2023, Itron reported a strong surge in smart meter deployments, supported by utility efficiency initiatives and increasing demand for real-time data analytics.

Which segment accounted for the largest North America Smart Meter Market share?

The residential application segment held the largest share of the North America Smart Meter Market. Increased focus on energy efficiency and consumer demand for precise usage data are fueling adoption in residential settings, with providers like Landis+Gyr and Sensus powering widespread smart meter roll-outs in homes.

What are the factors driving the North America Smart Meter Market?

Recent drivers include regulatory policies supporting smart infrastructure, rising demand for energy management, and utility modernization. For example, Siemens supported several utility modernization programs in the U.S., aiding grid reliability and enabling utilities to proactively manage energy consumption through advanced metering infrastructure.

Which type accounted for the largest North America Smart Meter Market share?

Electric smart meters accounted for the largest market share in North America. The rapid deployment of electric smart meters has been accelerated by renewable energy integration and government support, with key manufacturers like Itron and Honeywell leading the rollout of advanced electric smart metering technologies.

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North America Smart Meter Market Size & Share Analysis - Growth Trends and Forecast (2026 - 2035)

North America Smart Meter Market: by Type (Electric, Water, Gas), Application (Residential, Commercial, Industrial), Distribution Channels (Direct, Indirect, Online, Offline), Technology (Automatic Meter Reading (AMR), Advanced Metering Infrastructure (AMI), Radio Frequency (RF), Cellular, Power Line Communication (PLC), Others), Organization Size (Small, Medium, Large) and By North America Historical & Forecast Period (2020-2035) Comprehensive Study 2025

Last Updated: 23-07-2025 | Format: PDF | Report ID:10672

North America Smart Meter Market: Comprehensive Outlook and Forecast (2020-2035)

The North America Smart Meter Market is projected to witness strong growth from 2025 to 2035, primarily driven by rapid deployment of advanced metering infrastructure and regulatory mandates for efficient energy management. The market covers Electric, Water, and Gas smart meters across Residential, Commercial, Industrial, and Utility verticals, with strong competition among leading players leveraging AMI and AMR technologies. Favorable government incentives, increasing smart grid initiatives, technological advancements, and sustainability goals are expected to further boost market adoption. The market is segmented by type, application, technology, distribution channels, and organization size, offering a holistic view of industry trends, regional shares, and company strategies.

Latest Market Dynamics

Key Drivers

Accelerated adoption of Advanced Metering Infrastructure (AMI) supported by governmental policies promoting energy efficiency. For example, Itron Inc. signed new utility deployment partnerships in 2024 across the U.S.

Electric smart meters continue to dominate the North America market, capturing the bulk of installations due to regulatory initiatives focused on energy efficiency. Water and gas smart meters are also gaining traction amid growing urbanization and sustainability efforts, but with comparatively smaller market shares. As utilities progressively embrace digital transformation, electric smart meters are poised to remain the preferred choice, while supportive policies will gradually push up adoption for water and gas smart metering solutions.

The residential segment holds the largest share in the North America smart meter market, driven by large-scale government rollouts and increasing consumer demand for energy efficiency. The commercial sector follows, benefitting from optimized resource management, while the industrial sector is integrating advanced metering infrastructure for process automation and cost control. The continued emphasis on grid modernization and smart grid technologies supports growth across all segments, with the residential sector leading due to strong government and utility backing.

The North America smart meter market is expected to grow from $3,200 Million in 2020 to $9,400 Million by 2035. The surge is attributed to sustained rollout of smart metering technology and supportive regulatory landscape across the region. Major utility projects, combined with rising adoption among commercial and industrial end-users, is forecast to drive robust incremental revenue. Ongoing investments in AMI and IoT-enabled devices will be central to the upward market trajectory through 2035.

Year-over-year (YOY) growth in the North America smart meter market is forecast to remain strong over the next decade. Growth peaked at 10.1% in 2025, reflecting accelerated government and utility deployments. The market's YOY expansion will gradually moderate to around 7.0% by 2035 as adoption matures, but ongoing technology upgrades and regulatory compliance will sustain above-average growth compared to other grid equipment sectors.

The United States dominates the North America smart meter market, accounting for nearly three-quarters of total share, thanks to its advanced utility infrastructure and large-scale rollouts. Canada follows with sizable investments in water and gas smart metering, while Mexico is rapidly catching up, driven by national energy digitization programs. Regional disparities are expected to narrow as cross-country collaborations and technology transfers accelerate smarts metering expansion across the continent.

Top players in the North America smart meter market include Itron Inc., Landis+Gyr, Siemens AG, Sensus (Xylem Inc.), and Honeywell International Inc., together holding a dominant market share. Vigorous competition exists around product innovation, portfolio expansion, and long-term utility contracts. This fragmentation is expected to persist as new entrants leverage niche technologies, while established firms maintain their positions through strategic collaborations and continual R&D investments.

Utilities represent the largest group of smart meter buyers in North America, followed by municipalities and large commercial/industrial enterprises. Utilities benefit from regulatory mandates driving modernization, while municipal bodies are increasingly investing for resource management and sustainability. The market's diverse customer landscape underscores the multipronged value proposition of smart metering solutions, ranging from improved operational efficiency to enhanced consumer engagement.

Metrics	Details
Years	2020-2035
Base Year	2025
Market Size	Revenue (USD Million)
Regions	US, Canada, Mexico
Segments	By Type (Electric, Water, Gas, Advanced Metering, Industrial, Other), By Application (Residential, Commercial, Industrial, Utilities, Smart Grids, Other), By Distribution Channels (Direct, Indirect, Online, Offline, Distributors, Other), By Technology (Automatic Meter Reading (AMR), Advanced Metering Infrastructure (AMI), Radio Frequency (RF), Cellular, Power Line Communication (PLC), Other Technology), By Organization Size (Small, Medium, Large)
Players	Itron Inc., Siemens AG, Sensus (Xylem Inc.), Landis+Gyr, Schneider Electric, Honeywell International Inc., Badger Meter Inc., Aclara Technologies (Hubbell Inc.), Kamstrup, Elster Group GmbH (Honeywell), Trilliant Holdings Inc., General Electric Company, EDMI Limited, Iskraemeco, AEM

June 2024: Itron Inc. secured a landmark AMI contract with a major US utility, deploying advanced smart meters across the Midwest region.
July 2024: Landis+Gyr introduced its newest AI-powered electricity meter for the commercial market in Canada.
August 2024: Sensus (Xylem Inc.) rolled out a citywide water smart meter upgrade project in partnership with the City of Toronto.
September 2024: Siemens AG announced strategic collaboration for smart grid solutions with a large municipal utility in Mexico.
October 2024: Honeywell International Inc. began pilot trials of next-generation smart meters with integrated cellular connectivity in Texas.

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North America Smart Meter Market Size & Share Analysis - Growth Trends and Forecast (2026 - 2035)

North America Smart Meter Market: Comprehensive Outlook and Forecast (2020-2035)

Latest Market Dynamics

Key Drivers

Key Trends

Key Opportunities

Key Challenges

Key Restraints

North America Smart Meter Market Share by Type, 2025

North America Smart Meter Market Share by Application, 2025

North America Smart Meter Market Revenue (USD Million), 2020-2035

North America Smart Meter Market YOY Growth (%), 2020-2035

North America Smart Meter Market Share by Region, 2025

North America Smart Meter Market Players Share, 2025

North America Smart Meter Market Buyers Share, 2025

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