Market overview
The global metering as a service market is worth USD 3.3 bn in 2026 and is forecast to reach USD 7.7 bn by 2036, growing at a 9.0% CAGR. United States is the largest country market and Electricity is the largest by utility segment.
| Scope | Meters supplied to utilities as a service: electricity, gas, water and heat meters owned, financed, installed, read and maintained by a provider for a recurring fee. |
|---|---|
| Industry | Services and Utilities |
| Value 2025 | USD 3.0 bn |
| Value 2026 | USD 3.3 bn |
| Value 2036 | USD 7.7 bn |
| CAGR 2026-2036 | 9.0% |
| Volume 2026 | 43.2 million meters |
| Volume 2036 | 92.5 million meters |
| Average price 2026 | USD 75.8 per meter |
| Report price | Starts from USD 1,999 |
| Published | November 2026 |
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Metering as a Service market size and forecast, 2026-2036
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Year | Market value |
|---|---|
| 2026 | USD 3.3 bn |
| 2027 | USD 3.6 bn |
| 2028 | USD 3.9 bn |
| 2029 | USD 4.2 bn |
| 2030 | USD 4.6 bn |
| 2031 | USD 5.0 bn |
| 2032 | USD 5.5 bn |
| 2033 | USD 6.0 bn |
| 2034 | USD 6.5 bn |
| 2035 | USD 7.1 bn |
| 2036 | USD 7.7 bn |
Metering as a Service market segmentation
By utility
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Electricity | 54.0% | 54.2% | USD 1.8 bn | 9.0% |
| Water | 24.0% | 26.4% | USD 785 mn | 10.0% |
| Gas | 16.0% | 14.0% | USD 523 mn | 7.5% |
| Heat | 6.0% | 5.5% | USD 196 mn | 8.0% |
By service
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Meter provision and financing | 38.0% | 34.2% | USD 1.2 bn | 7.9% |
| Data management and analytics | 30.0% | 35.6% | USD 981 mn | 10.9% |
| Installation and maintenance | 32.0% | 30.2% | USD 1.0 bn | 8.4% |
By customer
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Utilities and suppliers | 70.0% | 69.2% | USD 2.3 bn | 8.9% |
| Commercial and industrial | 18.0% | 19.5% | USD 589 mn | 9.9% |
| Housing and property owners | 12.0% | 11.3% | USD 392 mn | 8.4% |
By contract term
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Under 5 years | 28.0% | 22.0% | USD 916 mn | 6.4% |
| 5 to 10 years | 46.0% | 46.0% | USD 1.5 bn | 9.0% |
| Over 10 years | 26.0% | 32.0% | USD 850 mn | 11.3% |
By financing model
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Provider-financed meters | 44.0% | 47.0% | USD 1.4 bn | 9.7% |
| Shared investment | 30.0% | 29.0% | USD 981 mn | 8.6% |
| Service fee on utility-owned assets | 26.0% | 24.0% | USD 850 mn | 8.1% |
Top 25 countries for metering as a service by revenue
Countries are ranked by revenue earned from sales in the country, not by where the product is made. The ten largest hold 76.0% of 2026 revenue and the 25 countries below together hold 93.8%.
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| # | Country | Value 2026 | Share 2026 | Value 2036 | CAGR 2026-36 |
|---|---|---|---|---|---|
| 1 | United States | USD 719 mn | 22.0% | USD 1.8 bn | 9.6% |
| 2 | United Kingdom | USD 458 mn | 14.0% | USD 913 mn | 7.2% |
| 3 | Germany | USD 262 mn | 8.0% | USD 596 mn | 8.6% |
| 4 | France | USD 229 mn | 7.0% | USD 526 mn | 8.7% |
| 5 | China | USD 196 mn | 6.0% | USD 619 mn | 12.2% |
| 6 | Australia | USD 164 mn | 5.0% | USD 395 mn | 9.2% |
| 7 | Japan | USD 131 mn | 4.0% | USD 271 mn | 7.5% |
| 8 | Italy | USD 131 mn | 4.0% | USD 286 mn | 8.2% |
| 9 | Spain | USD 98 mn | 3.0% | USD 232 mn | 9.0% |
| 10 | Netherlands | USD 98 mn | 3.0% | USD 217 mn | 8.2% |
| 11 | Canada | USD 94 mn | 2.9% | USD 216 mn | 8.7% |
| 12 | India | USD 67 mn | 2.0% | USD 184 mn | 10.6% |
| 13 | South Korea | USD 54 mn | 1.6% | USD 123 mn | 8.7% |
| 14 | Brazil | USD 46 mn | 1.4% | USD 115 mn | 9.7% |
| 15 | Sweden | USD 41 mn | 1.2% | USD 93 mn | 8.6% |
| 16 | Norway | USD 37 mn | 1.1% | USD 84 mn | 8.6% |
| 17 | Denmark | USD 34 mn | 1.0% | USD 77 mn | 8.7% |
| 18 | Finland | USD 31 mn | 1.0% | USD 72 mn | 8.7% |
| 19 | Belgium | USD 29 mn | 0.9% | USD 67 mn | 8.6% |
| 20 | Poland | USD 28 mn | 0.8% | USD 63 mn | 8.6% |
| 21 | Switzerland | USD 26 mn | 0.8% | USD 60 mn | 8.6% |
| 22 | Mexico | USD 25 mn | 0.8% | USD 63 mn | 9.7% |
| 23 | Saudi Arabia | USD 24 mn | 0.7% | USD 60 mn | 9.7% |
| 24 | United Arab Emirates | USD 23 mn | 0.7% | USD 57 mn | 9.6% |
| 25 | Turkey | USD 22 mn | 0.7% | USD 56 mn | 9.6% |
| Rest of world | USD 204 mn | 6.2% | USD 489 mn | 9.1% |
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
Competitive landscape
Group 1: Global leaders
- Landis+Gyr
- Itron
- Xylem
- Hexing Electrical
- Honeywell Elster
Group 2: Regional and specialist players
- Kamstrup
- Smart Metering Systems
- Hubbell
- Sagemcom
- Iskraemeco
- Badger Meter
- Diehl Metering
- Secure Meters
- Genus Power Infrastructures
Group 3: Emerging and niche players
- Gentrack
- EDMI
- Kaifa
Research methodology
Every figure on this page comes from the research framework that we apply to all of the markets we cover. The 2025 base for the metering as a service market is built from the volume sold and the price that buyers pay, and is cross-checked against the size of the wider industry the market belongs to. Where a market can be sized in more than one way, the routes are compared before a figure is set.
The forecast runs year by year from the 2025 base to 2036. Growth in each year reflects demand from the industries that buy the product, adoption of new technology, pricing, regulation and replacement cycles. Volume and price are modelled together, so revenue in each year equals volume multiplied by average price. The 2026 to 2036 compound annual growth rate of 9.0% is calculated from the resulting values.
The market is divided by utility, by service, by customer, by contract term, by financing model. The 25 largest countries are ranked by revenue earned from sales to buyers in each country, not by where the product is made. Segment values and country values add up to the market total in every year, and every report is checked for consistency before it is published.
Companies are placed in three groups: global leaders, regional and specialist players, and emerging and niche players. The groups describe how companies compete in the market. They are not a ranking and they are not market shares.
Our analysts also carry out primary research. Customized reports add interviews with key opinion leaders, such as senior executives, technical specialists and buyers, to test the assumptions behind the numbers for the question being asked.
Frequently asked questions
How big is the metering as a service market?
The global metering as a service market is estimated at USD 3.0 bn in 2025 and USD 3.3 bn in 2026.
How fast will the metering as a service market grow?
It is forecast to reach USD 7.7 bn by 2036, a compound annual growth rate of 9.0% from 2026, an increase of USD 4.5 bn.
Which country is the largest market for metering as a service?
United States is the largest market by revenue at USD 719 mn in 2026, 22.0% of the global total. The three largest countries together hold 44.0%.
Which country is growing fastest?
Among the ten largest markets, China is growing fastest at 12.2% a year from 2026 to 2036.
Which metering as a service segment is largest?
In the by utility split, Electricity is the largest segment with 54.0% of 2026 revenue.
Who are the leading metering as a service companies?
Global leaders include Landis+Gyr, Itron, Xylem, Hexing Electrical.
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