Smart Electricity Meter Market Set to Reach $23.46 Billion by 2031, Signalling Broader Energy Infrastructure Growth

## Smart Meter Market Expansion Points to Wider Energy Infrastructure Trends The global smart electricity meter market is projected to grow from USD 15.02 billion in 2026 to USD 23.46 billion by 2031, registering a compound annual growth rate of 9.31% over the forecast period, according to a recent study published by Mordor Intelligence. Single-phase meters are expected to account for the largest share of revenue, holding approximately 63.25% of the market, the report notes. While the study addresses the broader energy sector, the findings carry relevance for the maritime industry, where port authorities and terminal operators are under increasing pressure to modernise electrical infrastructure in support of shore power — also known as cold ironing — and the electrification of cargo handling equipment. The rapid expansion of smart metering technology is closely tied to global decarbonisation targets and the push by utilities and grid operators to improve demand management and energy efficiency. For ports, the ability to accurately monitor and manage high-voltage shore power connections is becoming a regulatory and commercial necessity as emissions regulations tighten in key jurisdictions including the European Union, the United States, and parts of Asia. The International Maritime Organization's (IMO) revised greenhouse gas strategy, which targets net-zero emissions from international shipping by or around 2050, is driving vessel operators and port authorities alike to invest in the electrical infrastructure required to support alternative fuels and plug-in power solutions. Smart metering forms a foundational layer of that infrastructure, enabling real-time energy monitoring, billing accuracy, and grid stability management. Several major port developments currently underway in Europe and North America include shore power capability as a baseline requirement, with smart metering systems integral to their design. The EU's FuelEU Maritime regulation and the Alternative Fuels Infrastructure Regulation (AFIR) are expected to further accelerate port-side electrical investment across member states from 2030 onwards. The Mordor Intelligence report highlights growing government mandates for smart meter deployment and the integration of renewable energy sources as primary drivers of market growth — trends that align closely with the maritime sector's own energy transition trajectory. For maritime industry stakeholders, the broader expansion of smart grid infrastructure represents both an enabling condition and a commercial opportunity, as ports, shipowners, and energy providers seek to align their capital investment strategies with the demands of a decarbonising global fleet. *Source: Mordor Intelligence, via PR Newswire, June 2026.*