Backed by market attractiveness analysis, total addressable market sizing, company benchmarking matrices, interactive Excel dashboards, wider supply chain intelligence, emerging startup coverage, and detailed product-level insights, The Business Research Company’s 2026 market reports are designed to offer research that is more actionable and strategically valuable than ever.
#Smart Utilities Market Size And Revenue Outlook Through 2030#_x000D_
The smart utilities market size has experienced rapid expansion in recent years. This market is projected to expand from $52.86 billion in 2025 to $59.81 billion in 2026, demonstrating a compound annual growth rate (CAGR) of 13.2%. The historical growth of this market is attributable to the digitization of utility operations, expansion of connected utility assets, early adoption of scada-based monitoring systems, increasing investments in grid automation, and rising demand for operational efficiency._x000D_
_x000D_
The smart utilities market size is projected to experience substantial expansion over the upcoming years. It is anticipated to reach $97.77 billion by 2030, demonstrating a compound annual growth rate (CAGR) of 13.1%. This growth during the forecast period is primarily driven by escalating investments in modernizing smart utilities, the increasing incorporation of AI-driven analytics, the broadening of connected water and gas networks, the rising embrace of cloud-based utility platforms, and an intensified focus on optimizing utilities for sustainability. Key trends expected during this period encompass the wider adoption of integrated utility management platforms, the increased deployment of IoT-enabled utility sensors, the expanding application of predictive analytics for asset management, the growth of cloud-based utility operations, and a heightened emphasis on preventing losses and improving efficiency._x000D_
_x000D_
#Get A Free Sample Report With In-Depth Market Insights:#_x000D_
_x000D_
#Smart Utilities Market Industry Drivers: What’s Behind The Revenue Growth?#_x000D_
The increasing use of electric vehicles is anticipated to drive the expansion of the smart utilities market in the future. Electric Vehicles (EVs) operate through one or more electric motors, drawing power from rechargeable batteries or alternative energy storage mechanisms. The rising popularity of electric vehicles stems from their convenience, environmental advantages, a wider selection of models, falling prices, and governmental initiatives promoting decarbonization. Smart utilities support the seamless integration of EVs by enhancing charging infrastructure, regulating grid demand, and facilitating efficient energy distribution. As an illustration, in January 2025, data from Cox Automotive, a US-based system software company, indicated that electric vehicle (EV) sales for 2023 were adjusted upwards to 1,212,758 units, marking a 49% surge from 2022. This growth persisted into 2024, climbing by 7.3% to total 1,301,411 units. Consequently, the increased adoption of electric vehicles is fueling the expansion of the smart utilities market._x000D_
_x000D_
#Smart Utilities Market Segment Landscape: Which Areas Lead Development?#_x000D_
The smart utilities market covered in this report is segmented – _x000D_
_x000D_
1) By Components: Hardware, Software, Services_x000D_
2) By Technology: Wired, Wired-Less_x000D_
3) By Applications: Meter Hardware, Communications And Networking, Power Quality Equipment, Technologies_x000D_
_x000D_
Subsegments:_x000D_
1) By Hardware: Smart Meters (Electricity, Gas, Water), Communication Modules (For Smart Grid Networks), Sensors And Actuators (For Monitoring And Control), Smart Grids And Substations Equipment, Advanced Metering Infrastructure (Ami), Energy Storage Systems (Batteries), Smart Transformers And Circuit Breakers, Iot Devices For Utilities _x000D_
2) By Software: Smart Grid Management Software, Utility Data Management Systems (Udms), Energy Management Software (Ems), Geographic Information Systems (Gis), Billing And Customer Information Systems (Cis), Predictive Analytics And Forecasting Software, Scada Systems (Supervisory Control And Data Acquisition), Cloud-based Software For Utility Operations _x000D_
3) By Services: Installation And Commissioning Services, Consulting Services (For Smart Grid Design And Implementation), Maintenance And Support Services, Data Analytics And Reporting Services, Cloud Hosting And Data Storage Services, Cybersecurity Services For Smart Utilities, Managed Services (For Operations And Monitoring), Remote Monitoring And Diagnostics Services_x000D_
_x000D_
#Smart Utilities Market Growth Trends: What’s Shaping The Future Outlook?_x000D_
Leading companies in the smart utilities market are prioritizing the development of sophisticated solutions, such as advanced meter infrastructure (AMI) systems, to modernize urban water management and achieve a competitive advantage. Advanced Meter Infrastructure (AMI) solutions refer to integrated systems that facilitate automated, real-time data collection and management for effective utility monitoring and control. For example, in June 2024, ST Engineering, a technology and engineering group based in Singapore, unveiled BrightCity, an advanced meter infrastructure (AMI) solution designed to assist utility providers and end users in managing water consumption. BrightCity addresses challenges posed by aging water infrastructure and fragmented meter systems by converting conventional meters into smart meters using its innovative Meter Interface Unit (MIU). This MIU, compatible with most water meters, allows for wireless data collection and integration into a central Meter Data Management System (MDMS). The system offers real-time insights, proactive leakage detection, and a customer portal for monitoring water usage._x000D_
_x000D_
#Smart Utilities Market Competitive Landscape: Which Companies Lead The Industry?#_x000D_
Major companies operating in the smart utilities market are Siemens AG, General Electric Company, International Business Machines Corporation, Cisco Systems Inc, Oracle Corporation, Mitsubishi Electric Corporation, Schneider Electric SE, Honeywell International Inc, ABB Ltd, SAP SE, Eaton Corporation plc, Atos SE, Wipro Limited, Tech Mahindra Limited, Hubbell Incorporated, Itron Inc, Enel X S.r.l., Landis+Gyr Group AG, S&C Electric Company, Kamstrup A/S, Tantalus Systems Corporation, Trilliant Holdings Inc _x000D_
_x000D_
#View The Full Smart Utilities Market Report:#_x000D_
_x000D_
#Smart Utilities Market Regional Outlook: Where Is Opportunity Concentrated?#_x000D_
North America was the largest region in the smart utilities market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart utilities market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa._x000D_
_x000D_
#Reach Out To Our Team:#_x000D_
_x000D_
The Business Research Company: https://www.thebusinessresearchcompany.com/_x000D_
Americas: +1 310-496-7795_x000D_
Asia: +44 7882 955267 & +91 8897263534_x000D_
Europe: +44 7882 955267_x000D_
Email us at: marketing@tbrc.info_x000D_
_x000D_
#Follow us on:#_x000D_
_x000D_
LinkedIn: https://in.linkedin.com/company/the-business-research-company_x000D_
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ_x000D_
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.