Laboratory & Healthcare Products & Services

Smart Meters: Market Size, Growth & Forecast to 2030

The Smart Meters market is valued at about $26.36 billion (2026) and is projected to grow at a 9.8% CAGR through 2030. The largest cost driver is Semiconductors and electronic components (35% of spend).

Market size
$26.4 bn (2026)
CAGR to 2030
+9.8%
Buyer power
Favours buyers
Tracked suppliers
45
Projected market growth (index, 2026 = 100)
Base year 2026
Official data · Claight projectionForecast
Market size index, 2026 = 100, at the 9.8% CAGR.
Forecast
2026
2027
2028
2029
2030
2031
2026 base: 1002031 est: 160

Cost structure

Semiconductors and electronic components
35%
Communication modules and cellular chipsets
20%
Structural enclosure and mechanical assembly
15%
Software licensing and firmware integration
15%
Assembly labor and quality testing
15%

Key suppliers

Itron Inc.Landis+Gyr Group AGSiemens AGSchneider Electric SEHoneywell International Inc.Sagemcom UK LtdXylem Inc.
Read the full Smart Meters report →

Claight market analysis of proprietary and public data. Full report: /category-intelligence/smart-meters