Procurement Market Intelligence Report
Smart Meters
Sourcing Guide & Market Intelligence
Smarter cost management starts with comprehensive market intelligence
United States
Europe
Global
Quick Navigation
Smart Meters Global Overview
Definition
Summary
Smart meters, which are also referred to as advanced metering infrastructure (AMI), mainly consist of electrical (or water and gas) meters that digitally report consumption information to utility providers at regular intervals. Smart meters also allow the utility to transmit information to the meter. This information is used for measurement, data collection, and consumption analysis of electricity, as well as for monitoring and billing purposes. Manufacturers are the most common type of suppliers, and key buyers include government agencies, construction firms, utility companies, and households.
This Report Includes:
- GISM (Single-Phase) Smart Meters
- GIST (Three-Phase) Smart Meters
- GISS (Heavy Consumption) Smart Meters
Not in this Report:
- Pre-Pay Meters
- Mechanical Meters
Global Smart Meters Procurement Trends
Discover the top international trends affecting procurement in the global Smart Meters market.
Warning Trends
Elevated Tariffs are increasing prices for law enforcement, security, and safety equipment
- The Trump administration’s reciprocal tariffs, which place broad tariffs on all imports from most US trade partners, are set to take effect on August 7 after the tariff rates were finalized on August 1.
- As a result, all foreign suppliers in law enforcement, security, and safety equipment will face significantly increased costs when selling products to US buyers, and domestic manufacturers of these goods will face higher costs when sourcing key inputs for these products.
- Countries such as China, Germany, Mexico, Thailand, and Vietnam are leading sources of imports in this sector, providing high quantities of goods such as safes, locks, security cameras, security systems, and personal protective equipment. Starting August 7, imports from China, Germany, Mexico, Thailand, and Vietnam will be subject to tariff rates of 54.0%, 15.0%, 25.0%, 20.0%, and 19.0% respectively.
- Elevated tariffs are likely to impact pricing and supply chains in this industry due to the United States’ reliance on imported manufactured goods, which gives foreign suppliers the leverage to pass through the costs of tariffs to buyers and domestic suppliers the leverage to raise prices.
- Consequently, the Yale Budget Lab projects a 39.2% average increase in metal product prices, impacting products such as security gates and safes. Electronic security devices, such as cameras or metal detectors, are projected to rise by 18.7% in price. In the personal protective equipment market, prices are forecast to rise by between 11.0% and 37.5%, depending on the type of equipment and materials used to make it.
Increased tariffs on copper imports take effect
- On August 1, the Trump administration implemented 50.0% tariffs on imported copper. Chile and Canada will be most impacted by these tariffs, as they account for a combined 87.0% of all copper imports in the United States.
- However, these tariffs are less sweeping than initially expected, only applying to semi-finished copper products, while excluding high-purity refined copper and copper input materials, such as ore and concentrate. As leading importers, such as Chile and Canada, have both high copper mining and refining capacities, they will likely avoid most of these tariffs by either exporting the copper in its unrefined form or refining the copper before exporting it to the United States
- These copper tariff exemptions limit the impact on the electronics and electrical equipment sectors because these applications require refined copper due to its optimal conductive properties.
- Thus, the prices of metal alloys that include copper, consumer products made from copper, tools, plumbing, corrosion-resistant alloys, and construction materials made from copper are forecast to rise by an average of 39.2%, according to the Yale Budget Lab.
Russian invasion of Ukraine is putting additional strain on US chip supply
- Until recently, the United States sourced nearly all of its neon gas (an essential material in the laser imprinting process to produce semiconductors) from Ukrainian and Russian producers. Previous conflicts between the two nations, specifically related to the Crimea conflict in 2014, resulted in a nearly 600.0% increase in the price of neon.
- The Russian Ministry of Industry and Trade announced in early June that it would be limiting neon gas exports as part of its sanctions against countries it views as unfriendly. This move will add to lead times and prices for neon.
- Downstream semiconductor manufacturers keep stockpiles of neon gas that have allowed them to continue manufacturing chips, though it is unknown how long these stockpiles will last. Semiconductor manufacturers will likely pay higher prices for neon gas outside Ukraine as global supplies dwindle.
Global Smart Meters Market - Suppliers by Region
| Country/Region | Number of Suppliers |
|---|---|
| #1 Oceania & Southeast Asia | 1,870 |
| #2 China | 1,370 |
| #3 Europe | 1,230 |
Explore supplier concentration across the globe
We've uncovered the 11 top regions for global procurement, based on feedback from our most strategic clients. Access vendor counts for each unique region when you subscribe.
2
Geography Drilldown - US & Europe
Average Cost of Smart Meters
United States
2026 Market Pricing$35.00 to $X,XXX.XX
per meterEurope
Average Price
Prices in the Smart Meters market range from $35.00 to $X,XXX.XX, depending on Utilities Monitored, Functionality, Hardware, Network Type and Accuracy. For example, lower prices are associated with Electricity ($50.00 to $200.00 per meter), Gas ($50.00 to $200.00 per meter) and Water ($100.00 to $250.00 per meter), whereas higher prices are associated with Electricity, water, and gas ($200.00 to $500.00 per meter).
Need the scoop on international price trends?
Between our Europe and Canada collections, we provide price data for 350 markets so you can instantly compare prices across borders. Or, use our custom research services for intel on prices in any region across the globe.
Smart Meters Category Price Trends
Pricing trends are indicated by the compound annual growth rate (CAGR) during a set period of time. For the Smart Meters market, prices in the US have grown 2.4% from 2022 to 2025. Meanwhile, the recent three-year CAGR for Europe is +0.9%.
United States (2022-2025)
Europe (2022-2025)
Compound Annual Growth Rate
Wondering where prices are heading?
Price trend forecasts are available to subscribers, along with price driver projections and forward-looking cost structure data.
Cost Analysis - Total Cost of Ownership for Smart Meters
Total cost of ownership is Low in the Smart Meters market. The average cost of ownership differs depending on the contract but generally includes costs negotiated before the contract begins, costs billed during the contract period and unforeseen costs. For example, unforeseen costs in the form of Obsolescence may raise the total cost of ownership unexpectedly.
Negotiated Before
Installation
Billed During
Insurance
Warranties
Unforeseen
Obsolescence
Buyer Power in Procurement Negotiations
In 2026, buyer power amounts to -2.5 in the United States. Buyer power is most positively impacted by Recent Developments. It is most negatively impacted by Product Specialization. Subscribers can access details on eight other factors that impact buyer power. Learn more
United States
Europe
Buyer power forecasts: your glimpse into the future
Develop strategies for the upcoming year and identify unforeseen opportunities for buying now
- Actionable "Buy Now" and "Buy Later" insights
- Near-real-time updates to current and forecast Buyer Power Scores
- Methodology and weightings for Buyer Power Score Components
Supply Chain Risk
The average level of supply chain risk is assessed as Medium, which has a negative impact on buyer power. The level of supply chain risk is affected by industry volatility, barriers to entry, competition, import penetration, regulation and industry financial risk. Buyers in this market can mitigate procurement and supply chain management risks by monitoring risk levels for individual first and second tier suppliers:
1st
Tier Suppliers
- Semiconductor & Circuit Manufacturers
- Wire & Cable Manufacturers
- Plastic Products Miscellaneous Manufacturers
2nd
Tier Suppliers
- Chemical Product Manufacturers
- Aluminum Manufacturers
- Iron & Steel Manufacturers
- Steel Rolling & Drawing Firms
- Plastic & Resin Manufacturers
Biggest Smart Meters Suppliers in the US by Revenue
The largest Smart Meters vendors by revenue in the US are Home Depot, inc., W.W. Grainger, Inc. and Landis+Gyr AG. Subscribers can sort and filter by market share concentration, profit level and other factors. Learn more
| Supplier | Operational Size | Headquarters | Number of Employees | Market Share (%) | Market Share Performance (3yr trend) | Total Revenue ($ million) | Profit Level (%) | Risk Level |
|---|---|---|---|---|---|---|---|---|
| Hubbell Inc. | Global | SHELTON | >10,000 | 5-10 | ||||
| Itron, Inc. | Global | LIBERTY LAKE | 1,001-10,000 | 5-10 | ||||
| Landis+Gyr AG | Global | Cham, CH | 1,001-10,000 | 5-10 | ||||
| Home Depot, inc. | International | ATLANTA | >10,000 | < 5 | ||||
| Siemens Ag | Global | Munich , DE | >10,001 | < 5 | ||||
| Honeywell International Inc. | Global | CHARLOTTE | >10,000 | < 5 | ||||
| Schneider Electric Se | Global | Paris, FR | >10,001 | < 5 | ||||
| Abb Ltd | Global | Zurich | >10,000 | < 5 | ||||
| W.W. Grainger, Inc. | Global | LAKE FOREST | >10,000 | < 5 | ||||
Looking for a list of suppliers by country?
Subscribers can access vendor information on Canadian and European suppliers, too. We also offer custom research services to help with vendor sourcing anywhere in the world.
Profit Analysis
The average profit margin across vendors in the Smart Meters market is 6.7% and steady. Profit levels shift depending on suppliers' spend on wages, purchases and overhead. The highest cost component for vendors is Purchases. The cost trend for this component is stagnating, when considering movement between 2025 and 2026. To understand cost forecasts for 2027 and uncover the implications on profit, start your subscription. Learn more
Vendor & Supply Chain Analysis
Although the top three suppliers, Itron, Hubbell, and Landis+Gyr, control a sizeable share of the market, there are a number of small manufacturers that compete on a local and regional basis.
The average vendor in this market presents a low financial risk, which aids buyers by limiting the risk of supplier bankruptcy and ensuring buyers’ undeterred access to smart meters.
The supply chain for smart meters is considered to have a moderate risk level. In terms of inputs, semiconductors and electronic components, steel parts and plastic materials pose the greatest risk to the supply chain; any shortages or unexpected changes in the cost of these inputs can disrupt the production and assembly of smart meters.
The federal government has issued a number of grants supporting the production and installation of smart meters, helping new market entrants slash startup costs, and contributing to smart meters’ adoption. Because there has been some opposition and controversy surrounding smart grids, many states are working toward alternative solutions, such as installing wired smart meters that do not require access to a smart grid to operate.
The United States is a net importer of gas, liquid, and electricity meters, indicating heightened competition in the market. While competition is increased due to the foreign presence within the market, reliance on imported products increases supply chain risk slightly.
Supplier Information
Hubbell Inc.
Hubbell Incorporated is a global manufacturer of electrical and utility solutions for electrical distribution and transmission, water and gas distribution, telecommunications, energy, non-residential, wireless communications, transportation, data centers, and light and heavy industrial markets. It organizes... Subscribe to learn more
Itron, Inc.
Itron, Inc. is a global technology company offering energy and water management, smart city applications, Industrial Internet-of-things (IIoT), and intelligent infrastructure and related services to utilities and municipalities. Its solutions include networks, software, services, devices, sensors, and data... Subscribe to learn more
Landis+Gyr AG
Landis+Gyr AG is a public company operating globally in the manufacturing sector. The company's offerings include smart meters. Founded in 2011, the company is currently headquartered in Cham, Switzerland with an estimated 5500 employees. Subscribe to learn more
Abb Ltd
ABB Ltd. is a global technology company that offers comprehensive electrification, robotics, automation, and motion solutions, primarily serving the distribution utilities, renewables, and transport & infrastructure markets. It organizes its business into four segments: the Electrification segment, which Subscribe to learn more
Badger Meter Inc.
Badger Meter Inc. is a public company operating globally in the manufacturing sector. The company's offerings include flow measurement instrumentation and smart meters. Founded in 1905, the company is currently headquartered in Milwaukee, Wisconsin, United States of America with an estimated 1976 employees.... Subscribe to learn more
Home Depot, inc.
Home Depot, Inc. is a home improvement retailer offering building materials, home improvement products, lawn and garden products, décor products, and related services under national and proprietary brands. Its proprietary brands include, among others, HDX®, Husky®, Hampton Bay®, Home Decorators Collection®,... Subscribe to learn more
Honeywell International Inc.
Honeywell International Inc. is a global technology and manufacturing company that designs, develops, produces, and markets consumer and industrial products. It organizes its business into four reportable business segments: the Aerospace segment, which supplies products, software, and services for aircraft;... Subscribe to learn more
Roper Technologies Inc.
Roper Technologies Inc. is a public company operating globally in the manufacturing and information sectors. The company's offerings include leak detection equipment, smart meters and claims management software. Founded in 1981, the company is currently headquartered in SARASOTA, Florida, United States of... Subscribe to learn more
Schneider Electric Se
Schneider Electric Se is a public company operating globally in the manufacturing, information, finance & insurance and professional, scientific & technical services sectors. The company's offerings include dampers, power supply units, power adapters & inverters, uninterruptible power supply systems, panelboards.... Subscribe to learn more
Accelerate the vendor selection process
Get a clear picture of the competition in a market and discover which vendors are best-suited for your sourcing needs. Our supplier profiles include hard-to-find financial ranges for private companies, cover public company data and feature an interactive competitor matrix.
Procurement Management KPIs for the Smart Meters Market
Managing vendor performance throughout the contract period is easier when tracking specific key performance indicators (KPIs). For example, buyers should monitor Customer Concentration and Customer Retention Rate. Buyers may experience better performance throughout their contracts if they establish service level agreements (SLAs) based on Accuracy and other factors.
| KPI | Level of Importance (1-5) | Measurements | Key Considerations |
|---|---|---|---|
| Customer Concentration |
|
Revenue per customer (RPC) Total revenue |
The customer concentration represents the amount of revenue associated with a single customer, on average. The customer concentration can be used to determine whether a supplier is susceptible to risk stemming from undiversified client portfolios. |
| Customer Retention Rate |
|
Number of customers at start of period Number of customers added within period |
The customer retention rate can be used to determine the extent to which a company’s customer base fluctuates over time. Buyers should consider working with suppliers that can retain customers for longer periods of time, especially since the market is evolving quickly. |
|
|||
Questions to Ask During Procurement Negotiations
How can I gain leverage during negotiations?
Quality Control
How do you keep track of the quality of your smart meters?
What are your standards for testing a system's suitability for use?
Specifications
What level of customization do you offer?
How long is the turnaround for highly customized smart meter systems?
Value-Added Services
What additional products and services beyond smart meters do you provide?
What bundling discounts do you offer for buyers purchasing multiple products and services simultaneously?
The ultimate prep for procurement negotations
View all 28 negotiation questions for this category when you subscribe.
Smart Meters RFP Guidelines
What should my RFP include?
Organizational Overview
Buyers should describe their organization, including their size, location, and type of business.
Buyers should specify what they need the smart meters to track.
Statement Of Need
Buyers should detail the acceptable brands, types, and number of smart meters needed.
Buyers should state the specifications of the smart meters they require.
Project Budget
Buyers should specify their budgets for smart meters and any desired related services and goods.
Buyers should indicate when payment will occur, such as upon award of the contract or in installments over a period of time.
The RFP process made easy
Find out how you can access RFP templates for 800+ procurement categories to start writing better, more consistent RFPs.
We display average pricing information, trends and market data.
Our Reports include:
- Opportunity assessment
- Market dynamics
- Recent developments
- Positive and warning trends
- Buyer power levers
- Price environment and market pricing
- Geographic wage rates
- Global market updates
- Total cost of ownership
- Cost structure benchmarks and analysis
- Supply chain and vendors
- Global supplier breakdown
- Market share concentration
- Regulation and business requirements
- Vendor management and KPIs
- Sourcing strategy guidance
