The global adoption of smart meters is rapidly expanding, with developing regions accelerating new deployments and developed markets replacing first-generation models.

Smart electricity meters dominate due to their potential to optimize energy use, though water metering is also growing strongly.

Regional adoption varies—North America has reached 82% penetration, Europe 63%, and Asia-Pacific is set to rise from 61% to 80% by 2029. Latin America is experiencing the fastest growth.

Second-generation smart meters now go beyond basic data collection, providing insights to improve efficiency and sustainability through advanced connectivity technologies like LTE 450, Wi-Fi, and LoRaWAN.