The 2024 Smart Meter Industry Report explores the technological advancements driving growth, key players, and the global adoption of smart metering solutions. It also highlights encryption measures that address data privacy concerns and interoperability issues in the sector. The report also emphasizes the investment activities and innovation efforts that improve energy efficiency and management.
This smart meter industry report serves as a reference for stakeholders in the industry, investors, policymakers, and economic analysts, providing a snapshot of the industry’s health to map its trajectory for innovation and growth in the coming years.
StartUs Insights Smart Meter Report 2024
- Executive Summary
- Introduction to the Smart Meter Report 2024
- What data is used in this Smart Meter Report?
- Snapshot of the Global Smart Meter Industry
- Funding Landscape in the Smart Meter Industry
- Who is Investing in Smart Meter Solutions?
- Emerging Trends in the Smart Meter Industry
- 5 Emerging Smart Meter Startups
Executive Summary: Smart Meter Report 2024
This report is created using data obtained from the Big Data and AI-powered StartUs Insights Discovery Platform, covering more than 4.7 million global companies, as well as 20K+ technologies and emerging trends. We also analyzed a sample of 300+ smart meter startups developing innovative solutions to present five examples from emerging smart meter industry trends.
- Industry Overview: The smart meter market report shows a sector that comprises more than 2300 companies. Last year, the industry experienced significant growth, with a 17.48% increase.
- Manpower & Employment Growth: Globally, the industry employs over 212000 professionals. In the past year, it added more than 13000 new employees.
- Patents & Grants: Innovation is a key focus, with over 6500 patents filed in the sector. Additionally, the industry has secured more than 210 grants. This highlights substantial research and development funding.
- Global Footprint: The top five country hubs for the smart meter industry are Germany, the UK, the US, India, and China. Leading city hubs include London, Berlin, Sydney, Melbourne, and Shenzhen.
- Investment Landscape: Investment remains strong, with an average value of USD 45.6 million per funding round. The sector has attracted more than 180 investors, closing over 550 funding rounds.
- Top Investors: The combined investment value of the top investors such as Apriori Capital Partners, Zoopla, Norvestor Equity, and more exceeds USD 740 million.
- Startup Ecosystem: Five innovative startups in this field are HARIM ANALYTICS (Propane Tank Level Monitoring), Flowd (Smart Water Metering), Tech OVN (Single & Three Phase Smart Meters), Openvolt (API for Smart Meter Data), and igecos (Plug-n-Play IoT Modules).
- Recommendations for Stakeholders: Investors should focus on IoT and AI technologies to drive advancements in energy efficiency. Governments and regulatory bodies must establish clear, supportive policies to encourage smart meter adoption while ensuring data privacy and security. Utility companies should also enhance their infrastructure to integrate smart meters by default, as more and more consumers demand transparency.
Explore the Data-driven Smart Meter Report for 2024
The Smart Meter Report 2024 uses data from the Discovery Platform and shows the key metrics that underline the sector’s growth. The heatmap visualizes key industry metrics, providing an overview of the sector’s current landscape. Our database includes 300+ startups and over 2300 companies, highlighting the growing nature of the smart meter industry. The sector experienced a growth rate of 17.48% last year. Intellectual property remains a focus, with over 6500 patents filed, complemented by 210 grants, showing ongoing innovation.
The industry employs over 212K professionals globally, with 13K+ employees joining last year. The top five country hubs driving this growth are Germany, the UK, the US, India, and China, while London, Berlin, Sydney, Melbourne, and Shenzhen emerge as leading city hubs. The heatmap captures these data points, offering an overview of the smart meter landscape.
What data is used to create this smart meter report?
Based on the data provided by our Discovery Platform, we observe that the smart meter industry ranks among the top 5% in the following categories relative to all 20K topics in our database. These categories provide a comprehensive overview of the industry’s key metrics and inform the short-term future direction of the industry.
- News Coverage & Publications: The smart meter industry received extensive news coverage and published over 3200 articles last year.
- Funding Rounds: Our database recorded more than 550 funding rounds, which showcases robust investment activity and financial support within the sector.
- Manpower: Globally, the smart meter industry employs over 212K workers, with an impressive addition of 13K+ new employees last year, signaling strong workforce growth.
- Patents: Innovation is evident, with over 6500 patents filed, emphasizing the industry’s commitment to technological advancement.
- Grants: In addition, the sector secured more than 210 grants. This highlights its access to substantial research and development funding.
- Yearly Global Search Growth: The global annual search interest in smart meter technologies grew by 34.1% last year, reflecting a significant increase in public interest.
- and more. Connect with us to explore all the data points used in this smart meter report.
A Snapshot of the Global Smart Meter Industry
The smart meter industry has experienced significant growth and development across key metrics, providing a vibrant overview of its current landscape. Globally, the industry employs over 212K professionals, with an addition of more than 13K new employees in the past year alone. This represents a robust workforce expansion. The growth is supported by a substantial number of companies operating within the sector, totaling over 2300.
Explore the Funding Landscape of the Smart Meter Industry
Investment in the smart meter industry remains strong and consistent, with an average investment value of USD 45.6 million per funding round. The sector has attracted over 180 investors who have closed over 550 funding rounds. This investment activity spans 180 companies, demonstrating widespread interest and confidence in the industry’s potential. These data points underscore the dynamic and growing nature of the smart meter industry.
Who is Investing in Smart Meter Solutions?
The smart meter industry has attracted substantial investment, totaling over USD 740 million. The key investors and their contributions are detailed below:
- aPriori Capital Partners has invested USD 330 million across 2 companies.
- Zoopla has allocated USD 190.4 million to at least one company.
- Norvestor Equity has contributed USD 89.2 million to at least one company.
- Baidu Ventures has invested USD 87 million in at least one company.
- International Finance Corporation has distributed USD 45 million across 2 companies.
- and more. Get in touch with us to explore all investment data in the smart meter industry
Access Top Smart Meter Innovations & Trends with the Discovery Platform
Explore the growing trends in the smart meter industry along with the firmographic insights:
- Remote Metering has emerged as a trend in the smart meter industry, with over 200 companies active in this category. These companies employ 13K+ workers, with an addition of over 530 new employees in the last year. This is an indication of growth and increasing demand for remote metering solutions. The annual trend growth rate stands at 5.55%.
- Smart Gas Meter is gaining traction, with more than 110 companies identified in this niche. These companies employ over 20K individuals, reflecting the sector’s scale. Last year, the smart gas meter industry saw 1K+ new employees. The annual trend growth rate is 15.74%, underscoring the increasing adoption of smart gas meters.
- Smart Meter Analytics is a growing trend within the industry, with over 20 companies focusing on this technology. This sector employs more than 3K professionals, with over 200 new hires in the past year. The annual trend growth rate for smart meter analytics is 11.79%.
5 Top Examples from 300+ Innovative Smart Meter Startups
The five innovative startups showcased below are picked based on data including the trend they operate within and their relevance, founding year, funding status, and more. Book a platform demo to find promising startups, emerging trends, or industry data specific to your company’s needs and objectives.
HARIM ANALYTICS enables Propane Tank Level Monitoring
Mexican startup HARIM ANALYTICS designs battery-operated sensors that use a long-range radio frequency signal to transmit data. The smart level meter for LP gas tanks monitors liquid levels in horizontal tanks. Its cloud platform sends daily balances, including data on initial levels, recharges, usage, and final levels. Further, its cellular alarm notifies when liquid levels are low. HARIM ANALYTICS also allows exporting data, graphs, and relevant information to Microsoft Excel for further analysis.
Flowd provides Smart Water Metering
Australian startup Flowd offers a smart water metering application for efficient water usage management. The platform features advanced leak detection technology to identify hidden water leaks. It provides water metering for residential, commercial, and industrial spaces and ensures accurate billing. Flowd also shares insights into water consumption trends to promote cost savings and sustainable practices.
Tech OVN builds Single & Three Phase Smart Meters
Indian startup Tech OVN offers single-phase and three-phase smart meters with RF or 3G/4G NBIOT communication options. These smart electric meters are tamper-proof send real-time warnings and impose penalties during tampering attempts. Its built-in wireless systems facilitate data collection. Tech OVN also offers group smart meters to provide metering for three consumers with one meter.
Openvolt provides API for Smart Meter Data
Irish startup Openvolt provides access to smart meter data through its API. The startup’s API retrieves residential and commercial smart meter data and offers insights into energy consumption. It also collects appropriate consent from energy consumers and ensures compliance with local regulations and data privacy laws. Openvolt’s platform also allows the exploration of historical and ongoing consumption data to enhance energy management.
igecos offers Plug-n-Play IoT Modules
Austrian startup igecos develops a platform for reading and optimizing power consumption through smart meters. This platform includes my-ecos and my-ecos+ Pro modules, which cater to different Wi-Fi reception scenarios. The modules connect to smart meters via cable or infrared reading head for data integration. Further, its web app enables real-time monitoring and control. The app displays encrypted energy data and allows users to track and optimize their consumption efficiently.
Gain Comprehensive Insights into Smart Meter Trends, Startups, or Technologies
The 2024 Smart Meter Industry Report shows a sector that is set up for growth and innovation. Key trends such as remote metering, smart gas meters, and smart meter analytics drive efficiency, sustainability, and innovation. Reach out to us to explore all 300+ startups and scaleups, as well as all industry trends impacting smart meter companies.
