The Europe Smart Meter Market size is estimated at USD 6.71 billion in 2024, and is expected to reach USD 13.29 billion by 2029, growing at a CAGR of 12.18% during the forecast period (2024-2029).
The growing awareness for smart grid projects, increasing urbanization, and supportive government regulations are expected to remain among the major factors driving the studied market's growth in Europe.
The European smart meter market is competitive, with some local and international players active. With the market expected to broaden and yield more opportunities, more players will enter the market soon, fragmenting the competitive landscape during the forecast period. Key players in the market include Elster Group GmbH, Diehl Stiftung & Co. KG, etc.
In February 2023, Netmore, a Swedish IoT operator, started rolling out a LoRaWAN network in France, targeting smart water metering and other large-scale IoT and utility projects. The rollout forms the next step in expanding Netmore's LoRaWAN infrastructure, which, according to the company, is now available in the UK, Sweden, Ireland, the Netherlands, France, and Spain.
In January 2023, the German government announced the adoption of a draft law to restart the digitalization of the energy transition and accelerate the rollout of smart metering. According to the government, the law will likely enter into force in the Spring of 2023, enabling large-scale smart metering rollout to start immediately before becoming mandatory in 2025.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook