Smart Gas Meters Market Size - By Technology (AMI and AMR), By Application (Residential, Commercial, and Utility), Forecast, 2025 - 2034

Smart Gas Meters Market Size

The global smart gas meters market size was valued at USD 6.6 billion in 2024 and is estimated to grow at a CAGR of 16.9% from 2025 to 2034. Increasing demand for precise billing, loss detection, and instantaneous consumption measurement will drive smart metering solution adoption. Additionally, increased consumer consciousness and utility companies' desire to make operations efficient will support the market growth.
 

Increasing demand for advanced metering infrastructure due to digitalization in the energy industry will drive market growth. In February 2025, Polaris Smart Metering signed a USD 59.6 million deal to provide one million NB-IoT-enabled smart gas meters to Think Gas in India. The agreement comprises AI-powered consumption insights and real-time dashboards, making Polaris a leader in taking 50% of the domestic market. Moreover, growing usage of AI and IoT technologies will also accelerate industry growth.
 

Growing urbanization in combination with rising use of natural gas in residential and commercial sectors is expected to drive strong demand for smart gas meters. Growing emphasis on energy conservation, along with the need for accurate and transparent charging, will drive the adoption of smart metering infrastructure.
 

Rising emphasis on energy efficiency and stringent regulatory frameworks will propel market growth. In August 2024, Avangrid completed the installation of over 700,000 smart meters for electricity and gas customers in New York. This initiative replaced estimated readings with precise consumption data, improving billing accuracy and enabling infrastructure modernization. Additionally, reinforced regulatory mandates on energy performance will further augment smart gas meter deployment.
 

Rising Investments of utility companies to modernize their digital infrastructure are anticipated to drive the smart gas meters market. Increased focus on the automated meter reading and remote monitoring systems will facilitate improved operational efficiency as well as real-time management of data. This shift in metering technology is expected to drive persistent market penetration and the adoption of products, backing long-term growth in regions worldwide.
 

Tariffs levied by the Trump administration on foreign-made smart gas meters and components are likely to impact the market growth. Trade measures are expected to raise procurement costs for utility companies and manufacturers, potentially leading to budget constraints and delays in deployment. Furthermore, restricted access to competitively priced, advanced smart meter technologies may disrupt supply chains, limit product availability, and ultimately constrain future market growth.
 

Smart Gas Meters Market Trends

• Increasing need for reliable and accurate gas metering will propel the use of smart gas meters. Apator Metrix S.A. has received an order to supply diaphragm gas meters valued at USD 13.44 million in March 2024 with Polska Spó?ka Gazownictwa for a 24-month term with a volume modification of 20%. This marks the largest transaction to date, highlighting the rising investment in gas infrastructure upgrades and reinforcing the growing momentum of smart metering deployments.
   
• The growing convergence of blockchain technology with intelligent gas meters will significantly enhance data transparency, security, and trust between utility providers and consumers. This integration is expected to improve billing accuracy, reduce fraud risk, and streamline billing processes. These benefits will not only boost operational efficiency but also stimulate widespread adoption across various regions, thereby contributing to market growth.
   
• Government initiatives and investments to improve energy efficiency and curb carbon emissions will further boost smart gas meter adoption. In April 2024, Wasion Group Limited obtained orders amounting to USD 42.7 million from China's State Grid Corporation for about 899,000 smart meters, in addition to data collection terminal contracts worth USD 14.7 million. These activities are forecast to drive smart metering installations and aid the growth in the market.
   
• Growing emphasis on the creation of interoperability standards for smart metering devices will propel seamless integration across different utility platforms and communication networks. Higher compatibility will ensure efficient data exchange, improve system scalability, and enable utilities to deploy full smart infrastructure solutions, ultimately enabling further market growth and technological advancement.
   

Smart Gas Meters Market Analysis

• Based on technology, the smart gas meter market is segmented into AMI and AMR categories. The smart gas meters market was valued at USD 5.5 billion, USD 5.9 billion, and USD 6.6 billion in 2022, 2023, and 2024, respectively.
   
• The AMI segment is anticipated to grow at a rate of more than 19.8% between 2025 and 2034, fueled by mass-scale deployments under national modernization programs. In November 2023, Genus Power Infrastructures won a USD 271 million contract to install and supply 2.733 million smart prepaid meters with advanced metering infrastructure (AMI) features under the DBFOOT model. Moreover, this deployment will drive the adoption of AMI by facilitating real-time data collection and enhanced utility efficiency.
   
• The AMR segment is anticipated to be worth over USD 9 billion by 2034, supported by its lower deployment cost and simpler communication infrastructure. Utilities are expected to favor AMR solutions in areas with limited connectivity or where two-way communication is not essential. The ability to perform automated meter readings and reduce manual intervention will further influence product uptake, contributing to sustained segment growth.
   

• Based on applications, the smart gas meters market is segmented into residential, commercial, and utility applications. The residential application market segment dominated 39% market share in 2024. Rising consumer demand for enhanced energy management and real-time usage insights will stimulate adoption in the residential segment. Moreover, favorable government policies and greater diversification towards cleaner fuels will augment product penetration in this market segment.
   
• The commercial market will grow at over 16.5% CAGR during 2025-2034, led by growing multi-energy smart metering initiatives and rising demand for precise consumption data in commercial properties. In 2024, Apator Metrix shipped more than 150,000 iSMART2 smart gas meters with Phoenix-RTOS firmware to Belgian network operators ORES, RESA, Sibelga, and Fluvius under a USD 68.25 million project driving smart metering deployment.
   
• The utility sector is anticipated to be valued at more than USD 7.3 billion by 2034, driven by the expanding application of AMI and smart gas meters integration by utilities to enhance operational efficiency. In May 2023, Landis+Gyr launched the G480 ultrasonic smart gas meter with 30 years of solid-state measurement, cellular connectivity, and self-cutoff, coupled with greater safety and performance. Furthermore, increasing utility modernization will drive market growth.
   

• The U.S. smart gas meters market was valued at USD 800 million, USD 900 million, and USD 1.1 billion in 2022, 2023, and 2024, respectively.
   
• Advancements in intelligent gas metering technology and pressure to use cleaner energy sources will fuel the growth of the U.S. market. In November 2023, Honeywell introduced the EI5, the globe's first 100% hydrogen-ready diaphragm smart gas meter, allowing utilities to meter natural gas and pure hydrogen without replacing the old base infrastructure. Additionally, the innovation will promote the use of advanced meters and boost energy transition, fueling market growth.
   
• Europe's market will grow by over 12% by 2034. Advances in connectivity and power-saving technology will drive the adoption of smart gas meters. In October 2024, Fibocom introduced its LE270 LTE Cat 1bis modules at Enlit Europe, with extremely low power at 1μA standby modes and 17.7×15.8×2.4mm sizes for stable 4G coverage of Europe. Moreover, the innovation will add to real-time data transmission and improve grid management, enabling growth in the market sustainably.
   
• The Asia Pacific market is projected to be worth over USD 9.5 billion by 2034 due to growing government initiatives towards digital infrastructure upgradation and the development of smart city projects. Growing investment in the next-generation metering infrastructure will support the adoption rate of smart gas meters, improving energy management and grid efficiency, thus contributing to market growth in the region.
   

Smart Gas Meters Market Share

• The top 5 players, including Landis+Gyr, Itron, Honeywell International, Sensus, and Apator SA, account for approximately 35% market share. These firms concentrate on increasing production capabilities, developing intelligent gas metering technologies, and building global distribution networks to maximize market presence. They spend heavily on R&D to develop new energy-saving metering technologies that enable cleaner energy transitions.
   
• The market leaders go after strategic alliances with utility companies and technology companies to win large smart metering contracts, focusing on local manufacturing and high after-sales support to allow quicker rollouts and improved customer service.
   

Smart Gas Meters Market Companies

Key players operating across the smart gas meters industry are:

• Aclara Technologies
• Apator
• Azbil Kimmon
• Chint Group
• Honeywell International
• Itron
• Landis+Gyr
• Neptune Technology Group
• Osaki Electric
• Raychem RPG
• Schneider Electric
• Sensus
• Wasion Group
• Zenner International 
   
• Itron provides next-generation metering infrastructure (AMI) and automated meter reading (AMR) solutions that make utilities more effective in operation. During FY 2024, Itron posted USD 2.4 billion in revenues on the strength of increased smart gas meter installations in North America and Europe. Its offerings allow real-time data acquisition and access at a distance, enabling utilities to maximize energy usage and reduce costs, solidifying its position in the market.
   
• Landis+Gyr is the industry leader in the smart gas meters sector. In 2024, the company earned revenue of USD 1.72 million. The company’s leadership is attributed to its dominant global marketing presence and advanced metering infrastructure services offered, as well as strong alliances with the utilities. The company’s innovations and market reliability have made it a trusted preferred provider in this part of the industry.
   
• Apator SA, a Polish smart metering specialist, reported USD 239.8 million in revenue and USD 18.9 million EBITDA in Q3 2024. It leads in intelligent gas meters, offering cutting-edge solutions that optimize energy management and data precision, bolstering its presence in the smart gas meter market.
   
• Wasion Group, a leader in China's smart metering solution provider industry, reported USD 1.2 billion in revenue and USD 420.6 million in gross profit during 2024. The firm provides high-end smart gas meters with enhanced energy efficiency and data management features, cementing its position as a leader in the Asia Pacific market.
   

Smart Gas Meters Industry News

• In March 2025, Netmore Group introduced its "Metering-as-a-Service" offering to accelerate the mass roll-out of smart metering for gas and water utilities. The new service presents a substitute for conventional capital-intensive AMI rollouts by removing the burden of the initial investment requirement. The MaaS solution offers utilities the accessibility to a flexible, subscription-based service that supports quicker roll-out and better operational efficiency.
   
• In March 2024, Aclara teamed up with Utilidata to implement AI functionality into smart meters through the Karman platform and Jetson hardware by NVIDIA. This provides a leap in programmable intelligence that helps grid operators analyze and control real-time data for distributed energy resources, fostering the deployment of smart grids capable of supporting integrated meters and ancillary devices.
   
• In January 2024, Terranova Software began a pilot project on smart gas metering with Vitogas, where they manage close to 7,000 meters. The key goals of this initiative are cost optimization, enhanced operational visibility, and compliance with Spain's mandate to replace gas meters by 2028.
   

The smart gas meters market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue and volume in “(USD Million & ‘000 Units)” from 2021 to 2034, for the following segments:

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Market, By Technology

• AMI
• AMR

Market, By Application

• Residential
• Commercial
• Utility

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Sweden
  • Italy
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • South Africa
  • Egypt
• Latin America
  • Brazil
  • Mexico
  • Argentina