North America Smart Meter Market Outlook, 2027

Smart meters first paved its way into the United States in 2006 when California based Pacific Gas & Electric Company began its first ever roll out of 9 Million smart meters in North California. The users can view their electric consumption online and also their pattern of usage as to when they use electricity more or do they use it during peak hours and allow them to make changes in their pattern of usage. Around 80 Million smart meters have been installed since then in the US households and that comprises of nearly half of electric users. These meters are wireless and transmit data to utility providers, saving them on cost of manpower to read them manually. The roll out of smart meters in US is managed by individual state and territory levels rather than central government. Every state has a different utility provider and policies as a result of which uniform policy for entire North America is not possible.

According to the report title “North America Smart Meter Market Outlook, 2027”, published by Bonafide Research, the Smart Meter market is anticipated to grow at a CAGR of 5.54% during the forecast period. Globally USA ranks second in the smart meter market and expected to reach value of USD 6 Billion by the end of 2027. Markets in US are developed while Mexico is rapidly adapting to smart meters during the forecast period. After successful adoption of smart electric meters by residential users across North America, the trend is now followed by adoption of smart water meters, to avoid wastage or overuse of water and ultimately save these scarce resources. AMR meters were rapidly replaced by the AMI technology meters at a CAGR of 6.96% during the historic period across North America region. Three fourth of the market share is occupied by the residential users while commercial users are gaining traction in the market towards smart electric meters. Varied software’s and applications are being developed by utility providers to ease the access and give more functionality to the users.

Smart meters make the end users conscious and alert choices towards the energy utilization on a daily basis. The smart display installed inside the premises shows them the usage in pounds and pence on an hourly basis. The users become efficient energy utilizers by switching off unwanted power, turning down boiler temperature or unplug devices that are not in use. The consumption and spending are real time rather than earlier version of estimates.

In this digital era, it goes without saying that smart meters with ever evolving new technologies is here to stay. The communication networks like radio frequency, 4G, 5G among others is boosting the smart meter market. The utility providers are rapidly innovating to be at par in smart meter technology and increased efforts are now being focused on smart water and smart gas meters. Moreover, the adoption of smart appliances, smart homes, shared mobility and 3D printing is enabling the growth of smart electric meters.

The efforts and policies made by various state governments are expected to further the growth of AMI technology smart meters in the future years. Initially the AMI meters were narrow band PLC and RF Mesh for communication. With innovations at present Broadband PLC and Low Power Wide Area Networks (LPWAN) are rapidly being adopted.

Major utility providers across North America are making increased efforts to replace existing AMR meters with new version AMI meters. In June 2020, Piedmont Electric partnered with Landis+Gyr to deploy connect platform with RF mesh network and 35,000 AMI meters power line to be replaced. In August 2020, Schneider Electric Launched a new software called Cloud Hosted power management to manage real time usage readings. In December 2020, Libra series Edge- Ready Smart Electric Meter was launched by Trilliant for users to work on dual band network for AMI 2.0 upgrade path. In March 2021, Calaveras County Water District partnered with Mueller Systems to cover 1,000 square miles with 13,000 AMI endpoints. April 2021 saw the launch of Aclara RF network for point to multipoint AMI network that replaces AMR meters and supports 12,000 electric; 9,500 water and 11,000 gas meters.

COVID-19 pandemic has decelerated the growth of the smart meters due to the implement of lockdown in almost all the major countries and halt the non-essential operations. This adversely affected the smart meters owing to less focus on development of end user’s industry. Apart from this, manufacturing and supply chain delays were also witnessed which poised a challenge to the smart meters. Manpower that is required for initial layout of meters and installations carried out was also affected as movement of people was restricted.

Major Companies present in the market:
Schneider Electric SE, Landis+Gyr, Itron Inc., Siemens AG, Badger Meter, Inc., Xylem Inc. (Sensus), Honeywell International Limited (Smart Energy), Kamstrup A/S, Aclara Technologies LLC, Neptune Technology Group Inc., Diehl Stiftung & Co. KG, Zenner International GmbH & Co. KG.

Considered in this report
• Geography: North America
• Historic Year: 2016
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027

Aspects covered in this report
• North America Smart Meter market with its value and forecast along with its segments
• Country wise market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Countries covered in the report
• United States
• Canada
• Mexico

By Type of Smart Meter in the report:
• Electricity Meter
• Gas Meter
• Water Meter

By End User of Solid-State Drive in the report:
• Residential
• Industrial
• Commercial

By Technology in the report:
• Automotive Meter Reading (AMR)
• Advanced Metering infrastructure (AMI)

By Component in the report:
• Hardware
• Software & Services

By Phase in the report:
• Single Phase
• Three Phase

By Communication Type in the report:
• Cellular Technology
• Radio Frequency
• Power Line communication
• Other Communication Types

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning. Post this we have started doing primary calls to industry people by equally segmenting in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry manufactures, consultants, Key vendors related to Smart meter & Utility providers etc. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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Manmayi Raval

Research Consultant

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