The global electricity meters market size was US$ 9.1 billion in 2021. The global electricity meters market is forecast to grow to US$ 16.1 billion by 2030 by growing at a compound annual growth rate (CAGR) of 6.1% during the forecast period from 2022 to 2030.

Factors Influencing the Market
The rapidly rising economy and rising energy consumption will primarily drive the global electricity meters market forward. In addition, growing industrialization will also surge the demand for electricity meters in the coming years.
Growing technological advancements, such as the rollout of smart electricity meters, will contribute to the growth of the global electricity meters market during the forecast period. In addition, growing contracts between public and private players for the installation of electricity meters will escalate the growth of the global electricity meters market during the forecast period. For instance, Energy Efficiency Services inked a memorandum of understanding with 2 Bihar utility companies in 2021 with the aim to install nearly 2.3 million smart pre-paid electricity meters. Thus, such collaborations are expected to accelerate the growth of the global electricity meters market during the forecast period.
The growing population will also benefit the electricity meters market in the coming years. Furthermore, infrastructure development in various countries will benefit the electricity meters market during the study period.

COVID-19 Impact Analysis
Due to the wake of the pandemic, the demand for electricity meters declined abruptly. Industrial activities were also halted due to a labor shortage. Moreover, the terror of the pandemic forced companies to halt their operations, which has significantly declined the growth of the global electricity meters market.

Regional Analysis
Based on Region, the Asia-Pacific electricity meters market is forecast to emerge as the largest market. It is owing to the rapidly rising population of the region. Furthermore, the growing deployment of smart electricity meters, majorly in China, is expected to be opportunistic for the electricity meters market in the coming years. The government's initiatives to boost industrialization in their respective countries will also offer lucrative growth opportunities for the electricity meters market. In addition to that, growing urbanization will benefit the electricity meters market in the coming years.
Moreover, the North American market for electricity meters will also register a significant growth rate. It is owing to the rising proliferation of advanced technology in the region. Furthermore, the presence of highly populated countries like Canada will also benefit the electricity meters market in the coming years. Furthermore, growing urbanization will drive the demand for electricity meters in the region during the study period.

Competitors in the Market
ABB
Aclara Technologies
Delixi Group Co. Ltd.
Elster Group GmbH
General Electric Inc.
Holley Technology LTD.
Honeywell
Iskraemeco
Itron Inc.
Jiangsu Linyang
Landis+Gyr
Schneider
Schneider Electric, Inc.
Siemens
Wasion
Other Prominent Players

Market Segmentation
The global electricity meters market segmentation focuses on Type, Application, and Region.
By Type
Single Phase
Three Phase
Analog
Smart
By Application
Residential
Commercial
Industrial
Others
By Regional Outlook
? North America
o The U.S.
o Canada
o Mexico
? Europe
? Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
? Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
? Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
? Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
? South America
o Brazil
o Argentina
o Rest of South America