The Asia-Pacifi c (APAC) smart meter market is experiencing massive growth, driven by grid modernization, with the region accounting for nearly 60% of the global installed base by late 2023. Major growth factors include reducing energy theft, enhancing effi ciency, and supporting smart grid infrastructure, with smart electric meters dominating the segment.
According to recent data from Astute Analytica, the Asia Pacifi c smart meters market is projected to offer a revenue opportunity of US$ 42,104.8 Mn during the forecast period 2023-2031 and is estimated to reach US$ 53,596.9 Mn by 2031 at a CAGR of 20.1%. Governments across the Asia Pacifi c region are placing strong emphasis on promoting renewable energy sources and enhancing the effi ciency of energy distribution to households.