North America's Smart Meter Market Forecast 2025: Wave Two Rollouts Thrive, Accounting for 75% of Yearly Shipments by 2030 - According to ResearchAndMarkets.com
The world of energy metering is undergoing a significant transformation, and North America is at the forefront of this change. A new report, titled "Smart Metering in North America - 7th Edition," has been added to ResearchAndMarkets.com's offering, providing insights into the smart energy metering market in the region.
According to the report, the smart grid funding and policies for electricity and gas utilities in the United States and Canada are playing a crucial role in this transition. The installed base of smart electricity meters in North America is forecasted to grow at a compound annual growth rate of 2.9% from 2024 to 2030, reaching over 91% penetration by 2030.
In 2024, the installed base of smart electricity meters in the US reached 136.9 million, while in Canada, it reached 15.5 million. The growth in the US is largely due to large investor-owned utility projects, while the Canadian market, although more mature, is expected to grow moderately, reaching penetration rates of approximately 97% by 2030.
The smart metering industry in North America is a vibrant ecosystem, with various players contributing to its growth. The market is dominated by companies like Itron, Landis+Gyr, and AcIara (Hubbell). Wi-SUN-based mesh networks, offered by vendors such as Landis+Gyr and Itron, are currently the most widespread variant for smart metering in North America.
Software solution providers like Hansen Technologies, Harris Utilities, Parsons Corporation (IPKeys Power Partners), Oracle, OSlsoft (Aveva), SAP, and Siemens are also playing a significant role in this transformation. Communication solution providers, such as Aviat Networks (4RF), Eaton, Nexgrid, Nighthawk, Tantalus Systems, Trilliant, Ubiik, and Wirepas, are essential in ensuring seamless communication between smart meters and the grid.
System integrators and communications service providers, including Accenture, Capgemini, Cisco, GE Vernova (Greenbird Integration Technology), IBM, and Verizon, are also key players in the smart metering landscape.
Smart metering is not just a passing trend in North America. It is widely regarded as the cornerstone for future smart grids and is currently being deployed across the region. Initiatives in Canada, such as Ontario's smart meter rollout, are part of this broader movement.
Smart metering projects in North America include those by Ameren, Consolidated Edison, Entergy, National Grid, NiSource, Hawaiian Electric, TXNM, BC Hydro, and Hydro-Quebec.
The report also highlights that the smart metering market in North America was the first region in the world to move beyond traditional energy metering through the widespread introduction of Advanced Metering Infrastructure (AMR). Looking beyond North America, Asia-Pacific constitutes the largest market for smart metering, while North America ranks as the third largest after Europe.
In conclusion, the smart metering market in North America is expected to continue its growth trajectory, with a projected smart electricity meter penetration rate of over 91% by 2030. This transformation is driven by a combination of government policies, technological advancements, and the efforts of various players in the industry.
- The report on "Smart Metering in North America - 7th Edition" reveals that the smart energy metering market is experiencing significant growth, with the installed base of smart electricity meters projected to reach over 91% penetration by 2030.
- The US and Canada are leading the transformation in energy metering, with the smart grid infrastructure and policies playing a crucial role in this change.
- In the cloud of data-and-cloud-computing, companies like Itron, Landis+Gyr, and AcIara (Hubbell) dominate the smart metering industry in North America, while software solution providers such as Hansen Technologies, Oracle, and SAP also significantly contribute.
- Communication solution providers, like Aviat Networks (4RF), Eaton, and Trilliant, are essential in ensuring seamless communication between smart meters and the grid, while system integrators and communications service providers, such as Accenture and IBM, are key players in the smart metering landscape.
- Smart metering projects are being implemented across North America by companies like Ameren, Consolidated Edison, and BC Hydro, and initiatives such as Ontario's smart meter rollout are part of this broader movement.
- The smart metering market in North America was the first region in the world to move beyond traditional energy metering, and it now ranks as the third largest after Europe. Despite the strong growth in North America, Asia-Pacific constitutes the largest market for smart metering.
