Global smart meter penetration to reach 59% by 2028


Navigant Research has released a new report which explores factors impacting on the global smart meter market.

Read more about smart meters here

According to the report, the global penetration of smart meters will rise from 41.2% in 2019 to 59% by 2028.

Market growth is driven by on-going utility investment in grid intelligence, security and edge computing technologies.

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Other key study findings

  • Most markets continue to pursue and install first-generation smart meters.
  • Developed economies such as in North America and Europe are driving the market forward with second-generation projects.
  • Regions, such as India and much of the Middle East, are just beginning their projects.
  • Smart meters have grown into one of the most polished business cases for the deployment of advanced communications networks across smart grids.
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  • Smart meter rollout is enabling utilities to maximise their investments in smart grid technologies and to improve customer services.

Michael Hartnack, a research analyst with Navigant Research, said: “Smart meters have the highest deployment rates of any smart grid technology, and the global market, although slowing slightly, continues to expand.

“Across all regions, the Middle East & Africa demonstrate the highest potential for growth in smart meter deployments, while the Asia Pacific accounts for the highest percentage of overall global smart metering revenue.”