Smart energy meter installations in Europe to reach 335 million by 2029
- By the end of 2023, close to 60 percent of EU27+3 electricity customers had smart meters, projected to rise to 80 percent in 2029.
- Italy and the UK are the largest markets for smart meter shipments, leading with 5.0 million and over 2.2 million units in 2023 respectively.
- The smart metering market in Europe is anticipated to experience robust growth, with an expected installed base of 335 million meters by 2029.
In 2023, approximately 60 percent of electricity customers within the EU27+3 had installed smart meters, a figure that is projected to rise to 80 percent by 2029. Europe's smart metering market experienced significant growth, highlighted by data showing that by the end of 2024, around 127 million additional smart electricity meters will be deployed across the continent. Italy and the United Kingdom led in smart meter shipments in 2023, with Italy at 5.0 million and the UK at over 2.2 million units. Growing trends were particularly visible in Central, Eastern, and Southeast Europe, which are becoming vital markets for smart metering growth, expected to account for 52 percent of annual shipments by 2029, up from 28 percent in 2023. Technological developments, such as advancements in wireless communication technologies, have spurred innovation and efficiency in smart metering, enabling a more secure and integrated energy management system. As a result, market forecasts indicate a robust and promising expansion in smart metering solutions across Europe, driven by both first and second-generation deployments, alongside increasing investments in grid modernization.