The United States Residential Smart Meters Market size in terms of installed base is expected to grow from 93.05 Million units in 2024 to 126.41 Million units by 2029, at a CAGR of 6.32% during the forecast period (2024-2029).
Smart meters are electronic devices that monitor electricity, gas, and water usage. These smart meters can transmit usage data via cellular, radiofrequency electromagnetic radiation (RF), and power line communication, assisting the utility company in efficiently managing energy consumption. Smart meters provide many advantages, including lower meter reading costs, prevention of disconnection, elimination of billing inefficiencies, and lower reconnection costs for businesses and consumers.
The United States residential smart meters market is fragmented as the substantial increase in demand, coupled with government initiatives to increase the number of rollouts in the United States, is expected to increase the degree of competition amongst the market players to meet the increasing demand and some of the players include Badger Meter Inc., Mueller Systems LLC, Diehl Metering U.S., Kamstrup A/S, and Neptune Technology Group Inc.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook