Top Players in the Smart Electric Meter Industry

The global smart electric meter market reached a value of US$ 25.6 Billion in 2023. As per the analysis by IMARC Group, the top 12 smart electric meter companies are increasingly focusing on the expansion of communication network infrastructure with an enhanced focus on reducing production costs and improving productivity. In line with this, continual technological advancements in the manufacturing of smart electric metres, such as the integration of cloud computing and analytics, and the internet of things (IoT), are creating lucrative growth opportunities for the key players.

Moreover, the widespread digitalization of electrical systems, along with the augmenting demand for electricity in commercial and residential sectors, is also resulting in a higher product uptake. Besides this, the growing adoption of smart meters in a wide range of utility companies is also propelling the market growth. Additionally, the growing need for remote monitoring and controlling of power grids is providing an impetus to the market. Furthermore, the introduction of numerous initiatives to develop smart cities by the governments of several countries are further contributing to the market. By 2032, the market value is projected to reach US$ 47.1 Billion, at a projected CAGR of 6.9% during 2024-2032.

Learn about opportunities, challenges, and trends in the global Smart Electric Meter industry with IMARC’s market research report. Try a free sample today!

Top Companies Operating in the Global Smart Electric Meter Market

1. ABB Ltd. 

Establishment: 1988 
Headquarter: Zürich, Switzerland 
Website: https://global.abb/group/en

As a technology leader in electrification and automation, ABB enables a more sustainable and resource-efficient future by utilizing their expertise in engineering and software in order to optimize manufacturing, movement, and operation. Electrification by ABB offers a variety of products, including EV infrastructure, solar inverters, modular substations, distribution automation, and power protection that encompasses digital and connected innovations for low- and medium-voltage applications. These solutions improve the energy efficiency and safety of homes, offices, factories, and transport while lowering the cost of energy. Its pioneering work in electrification and automation helps address energy challenges around the world and promote sustainable development.

2. Aclara Technologies LLC (Hubbell Incorporated) 

Establishment: 1972 (M&A on 2017) 
Headquarter: Missouri, United States of America 
Website: https://www.aclara.com/ or https://www.hubbell.com/hubbellpowersystems

As the leading manufacturer of transmission, distribution, substation, OEM, and telecommunications products for gas, water, and electric utilities, Aclara Technologies LLC (Hubbell Incorporated) has expertise in gas, water, and electric utilities. The company provides products for construction and switching, cable accessories, transformer bushings, tools, insulators, arresters, pole line hardware, and polymer precast enclosures and equipment pads. Its goal is to provide robust and secure communication systems and expand situational awareness on customers' distribution networks in partnership with its customers. 

3. Genus Power Infrastructures Ltd. 

Establishment: 1992 
Headquarter: Rajasthan, India 
Website: https://genuspower.com/

Genus Power Infrastructures Limited is an Indian company that operates in the power sector, which is primarily involved in the design, engineering, procurement, construction, testing, commissioning, and maintenance of power transmission and distribution systems. A subsidiary of the Kailash Group, the metering solution division of the company provides a comprehensive line of electricity meters, smart meters, and cables, and the engineering construction and contracts division implements turnkey power projects, including substation erection, rural electrication, and network refurbishment. With an experienced and highly qualified engineering team and state-of-the-art manufacturing facilities, a complete forward and backward integration from plastic parts to final products, automated SMT lines and lean assembly techniques, the company is a leader in the industry. Its R&D center has been recognized by the Ministry of Science and Technology, Govt. of India (GoI) and has facilities across the USA, Singapore and China. 

4. Holley Technology Ltd. 

Establishment: 1970 
Headquarter: Hangzhou, China 
Website: https://www.holley.cn/

Holley Technology Ltd. is a leading manufacturer and supplier of smart electric meters and related solutions globally. The company was founded in 1970 and has since become one of the world's largest meter manufacturers, specializing in smart energy management and metering technologies. The company's product portfolio includes a range of smart electric meters, such as single-phase and three-phase meters, prepayment meters, and smart energy management systems. In addition to its metering products, Holley Technology offers a range of related solutions and services, including meter data management, software development, and energy analytics, with an enhanced focus on innovation. The company has a global presence with a dedicated research and development team, partnerships with leading academic institutions, and operations in around 70 countries and regions worldwide. 

5. Honeywell International Inc. 

Establishment: 1906 
Headquarter: North Carolina, United States of America 
Website: https://www.honeywell.com/

A Fortune 100 company founded in 1906, Honeywell International Inc. is a diversified technology and manufacturing company headquartered in Charlotte, North Carolina. In Honeywell's building technologies segment, energy management and automation solutions can assist utilities and building owners in monitoring and optimizing energy consumption, which is a major component of smart metering. In addition to hardware solutions, Honeywell offers software solutions, such as Forge Energy Optimization, which uses artificial intelligence and machine learning algorithms to help owners and managers optimize energy usage. Sustainability and corporate responsibility are also strongly emphasized by the company, due to which it has set ambitious targets to reduce its environmental impact in the coming years. Honeywell operates in more than 70 countries and has a global workforce of approximately 110,000 employees. 

6. Iskraemeco Group 

Establishment: 1945
Headquarter: Kranj, Slovenia 
Website: https://www.iskraemeco.com/

Iskraemeco is one of the leading manufacturers and suppliers of smart metering solutions. Having been in business for more than 77 years, smart metering solutions from Iskraemeco include digitalized solutions based on IoT, advanced metering infrastructure (AMI) systems, advanced metering management (AMM) systems, and advanced metering analytics (AMA) systems. The company's solutions help utilities gather and analyze data on energy consumption, and control and manage energy networks more efficiently. Founded in 1987, Iskraemeco operates in over 70 countries throughout the world. A number of large-scale smart metering projects around the world have been undertaken by the company in partnership with leading utilities and energy service providers. 

7. Itron Inc. 

Establishment: 1977 
Headquarter: Washington, United States of America 
Website: https://www.itron.com/

Itron is a key player in the smart electric meter market, which primarily provides innovative solutions and services to help utilities and cities manage energy, water, and other critical resources more efficiently and effectively. Having operations in more than 100 countries around the world, the company has a strong global presence. In addition to working with a number of leading utilities and energy service providers, the company has also been involved in a number of large-scale smart metering initiatives around the world. With Itron's smart metering solutions, utilities can collect data on energy consumption and more effectively manage and control their energy networks. The solutions include advanced meters, communications networks, and data management software. 

8. Jiangsu Linyang Energy Co. Ltd. 

Establishment: 1995 
Headquarter: Jiangsu, China 
Website: https://global.linyang.com/

Jiangsu Linyang Energy Co Ltd provides smartgrid and smart metering solutions and is one of the leading energy metering and management companies in China. Established in 1995, the company is headquartered in China and has operations in over 60 countries around the world, including India, Brazil, and the United States. The smart metering solutions provided by Jiangsu Linyang include advanced meters, communications systems, energy management systems, demand response solutions, and software for grid management. Jiangsu Linyang has a strong global presence, with partnerships with over 300 utilities and energy service providers around the world and has been involved in a number of large-scale smart metering projects, notably in the deployment of over 10 million smart meters in China. 

9. Landis+Gyr 

Establishment: 1896 
Headquarter: Zug, Switzerland 
Website: https://www.landisgyr.com/

The Landis+Gyr Group specializes in smart grid and smart metering technologies and provides energy management solutions and services worldwide. The company was founded in 1896 in Switzerland, and it currently has operations in over 30 countries, partnering with more than 300 utilities and energy service providers. Landis+Gyr offers a range of advanced meters, communication systems, and software solutions to manage data from smart meters. The company also offers demand response solutions, grid management software, and advanced analytics tools in addition to smart metering solutions. More than 7 million smart meters in the United Kingdom have been deployed by the company as part of a number of large-scale smart metering projects.

10. Microchip Technology Inc. 

Establishment: 1989 
Headquarter: Arizona, United States of America 
Website: https://www.microchip.com/

Incorporated in 1989, Microchip Technology Inc. designs, manufactures, and sells a wide variety of semiconductor products, including microcontrollers, memory, and interface devices. Among the company's products are microcontrollers and communication devices for connecting smart meters with utilities and other systems in the smart grid, which plays a crucial role in achieving energy efficiency and sustainability. Along with its broad product portfolio, Microchip Technology has also established strategic partnerships with leading energy industry companies to expand its market reach and enhance its offerings. In the smart electric meter market, Microchip Technology's strategic partnerships in the energy industry and its focus on semiconductor technology make the company a key player in the smart electric meter market. 

11. Schneider Electric SE 

Establishment: 1836 
Headquarter: Rueil-Malmaison, France 
Website: https://www.se.com/ 

As a global leader in energy management and automation, Schneider Electric provides a wide range of solutions and services that help customers manage energy resources more efficiently and sustainably. Smart metering solutions from Schneider Electric include advanced meters, communication systems, and software that manages data. Energy consumption data can be collected and analyzed using these solutions, as well as energy networks can be controlled more effectively and efficiently. The company operates in over 100 countries around the world, gaining a strong global presence. 

12. Wasion Group 

Establishment: 2000 
Headquarter: Jiangsu, China 
Website: https://en.wasion.com/

Wasion Group is one of the key players in the smart electric meter market. With a wide range of products and business models supporting sustainable development, the company is the leading provider of energy metering products and solutions in China. Wasion Group offers a wide range of smart electric meters, which includes residential, commercial, and industrial models. It has expanded its operations to more than 100 countries and regions worldwide with the joint venture between Wasion and Siemens.

About Author: