Smart gas meter market projected to reach $3.74 billion by 2031 with an 8.0% CAGR as utilities modernize infrastructure
Executive summary: MarketsandMarkets released a forecast that the global smart gas meter market will grow from USD 2.55 billion in 2026 to USD 3.74 billion by 2031, representing an 8.0% compound annual growth rate. The projection signals increasing utility investment in advanced metering infrastructure, which could drive revenue for IoT‑enabled meter makers and data‑analytics firms and shape regulatory timelines for energy‑efficiency targets.
Who is involved: MarketsandMarkets (research firm), gas utilities, smart‑meter manufacturers, and energy regulators.
Likely next (inference): Utilities are expected to issue RFPs for smart‑meter rollouts, vendors may accelerate product development, and regulators could revisit deployment mandates to align with the projected market size.
According to MarketsandMarkets, the worldwide smart gas meter market is set to rise from $2.55 billion in 2026 to $3.74 billion by 2031, reflecting an 8.0% CAGR. The growth is attributed to utility upgrades to advanced metering infrastructure and regulatory pushes for greater energy efficiency. No contradictory figures were presented in the release, and the forecast aligns with recent trends in IoT‑enabled utility solutions.
What's next — scenarios
Inference: scenarios and probabilities are Beyond's assessment, not reported fact.
Base Case Adoption (55%)
Steady demand for IoT components and smart gas meters will allow component suppliers to secure predictable multi-year utility contracts.
- Major utilities release RFPs for AMI upgrades aligned with an 8% CAGR trajectory
- Regulatory mandates for energy efficiency pass in key regional markets
Regulatory Acceleration (25%)
Aggressive government decarbonization mandates will front-load smart meter demand, creating supply chain bottlenecks and margin expansion for market leaders.
- Governments announce subsidies or strict deadlines for mandatory smart gas meter deployment before 2028
- Year-over-year utility capital expenditure on IoT infrastructure jumps by over 15%
Macroeconomic Stagnation (20%)
High interest rates and budget constraints will force utilities to delay infrastructure upgrades, squeezing top-line growth for meter manufacturers.
- Major utilities publicly announce capital expenditure cuts or project delays for AMI rollouts
- Quarterly earnings reports from major meter manufacturers show declining order backlogs
What to watch
- Utility capital expenditure announcements for smart infrastructure over the next 60 days
- Regulatory policy updates regarding energy efficiency and gas network modernization in North America and Europe
- Quarterly financial results and order backlog disclosures from major smart meter manufacturers in the next 90 days
Timeline
- — Smart Gas Meter Market worth $3.74 billion by 2031 | MarketsandMarkets™ (PR Newswire)
Analysis — what this means
Likely next events
- Forecast calls for $3.74 billion market size by 2031
- CAGR of 8.0% projected for 2026‑2031
Sectors affected
- Gas utility industry
- Smart metering manufacturers
- IoT and data‑analytics providers
Key entities
Sources
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