Government Initiatives Act as a Driver in the US Smart Meters Market

US smart meters market is projected to grow at a CAGR of 5.5% during the forecast period (2020-2026). The presence of several programs making contributions to the development of advanced metering infrastructure is supporting the growth of the smart meter industry in the US. For instance, the American Recovery and Reinvestment Act of 2009 (ARRA), which includes funding for the Smart Grid Investment Grant (SGIG) program provides more than 50% of the $8 billion in the SGIG project which includes the development of advanced metering infrastructure. 

Browse the full report description US Smart Meters Market Size, Share & Trends Analysis Report by Product Type (Smart Gas Meters, Smart Electric Meters, Smart Water Maters), By Technology (AMI and AMR), By Application (Residential, Commercial, and Industrial), and Forecast 2020-2026 at https://www.omrglobal.com/industry-reports/us-smart-meters-market

The country’s large smart gas meter manufacturers namely, Elster, Landis+Gyr, Sensus, and Itron, each received at least $30 million in ARRA funds or matching funds. The funding encouraged utilities and municipalities to start implementing smart metering infrastructure in their communities.

Further, the Government is providing funds for smart water projects in the US. For instance, the Bureau of Reclamation announced to provide funding opportunities for projects in 2020 and 2021, as part of the WaterSMART Water and Energy Efficiency Grant Program. This funding will allow undertaking projects that result in sustained water savings, increase the production of hydropower, and support broader water reliability benefits. 

Further, in 2019, the Bureau of Reclamation announced that 13 states will utilize $29.1 million in grants from the WaterSMART Program to support communities conserve water. Therefore significant programs towards smart water management further encourage the demand for smart water meters in the country, thus propels the overall market growth.  

  Market Coverage

Key questions addressed by the report

• What is the market growth rate during the forecast period?
• Which segment dominates the market in the base year?
• Which segment will project the fastest growth in the market during the forecast period?
• How COVID-19 will impact the market growth in 2020 and the coming years?

o Recovery Timeline

o Deviation from the pre-COVID-19 forecast

o Most affected segment

o Recommendations 

• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

US Smart Meters Market – Segmentation

By Product Type

• Smart Gas Meters 
• Smart Electric Meters
• Smart Water Maters

By Technology

• Advanced Metering Infrastructure (AMI)
• Automated Meter Reading (AMR)

By Application

• Residential 
• Commercial 
• Industrial