According to Cognitive Market Research, the global smart meter system market size is USD 22541.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 36.20% from 2024 to 2031.
North America held the major market of more than 40% of the global revenue with a market size of USD 9016.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 34.4% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 6762.36 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 5184.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 38.2% from 2024 to 2031.
Latin America market of more than 5% of the global revenue with a market size of USD 1127.06 million in 2024 and will grow at a compound annual growth rate (CAGR) of 35.6% from 2024 to 2031.
Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 450.82 million in 2024 and will grow at a compound annual growth rate (CAGR) of 35.9% from 2024 to 2031.
The residential held the highest smart meter system market revenue share in 2024.
