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.
Read also:
- UNEX EV, U Power's collaborator, inks LOI with Didi Mobility for the implementation of UOTTA battery-swapping vehicles in Mexico.
- Stratospheric Blockchain Network Launched by World Mobile and Protelindo
- Airbus is pushing the boundaries in the field of eco-friendly jet fuel production
- Two Aspects I Adore in the Lexus LFR, Alongside One Concern That Troubles Me
