Power Metering Market Size, Share, Growth Analysis, By Type (Smart Meter, Digital Meter), By Application (Residential, Commercial), By Phase (Single-Phase,Three- Phase), By Region - Industry Forecast 2024-2031

The Asia Pacific region is estimated to account for a massive share of the global power metering demand outlook. This can be attributed to the presence of a huge power supply network to some of the world’s largest population bases such as China and India, which also lead the market growth in this region. High investments in infrastructure development and growing electricity usage from the industrial sector are also predicted to bolster power metering market growth in the Asia Pacific region across the forecast period. Initiatives taken by governments in this region to optimize energy supply are also estimated to bolster sales of smart power meters and thereby drive power metering market development as well.

North America accounts for the second-largest share of the global power metering marketplace. The market is characterized by the presence of a robust power supply grid network and the growing adoption of advanced power metering technologies. Installation of smart power meters is a trend that is projected to allow this regional market to hold its position in the global landscape going forward. Canada and the United States are estimated to be the top markets for power metering companies in this region. High availability and acceptance of advanced power metering technologies will also crucially bolster market growth in North America going forward.