What are smart meters?

Smart meters are advanced digital devices that replace traditional utility meters to measure and record electricity, gas, or water consumption in homes and businesses. These devices enable two-way communication between consumers and utility companies, providing real-time data on energy usage. Smart meters offer several advantages, including the ability to remotely monitor consumption, facilitate efficient billing based on actual usage, and support demand response programs. With integrated communication capabilities, these meters contribute to the creation of smart grids, enhancing overall energy management, reducing environmental impact, and empowering consumers to make informed decisions about their resource consumption.

How do smart meters work?

A smart meter's digital device accurately measures energy consumption, using varied sensors based on the energy type. - For electricity, sensors track voltage and current, multiplied for watts. Over time, power consumption is integrated for total electricity use in kilowatt-hours. - Natural gas and water meters use flow sensors, employing technologies like ultrasonic or turbine methods. The smart meter calculates energy consumption by considering the volume used and the energy content of the respective resource. Here's the detailed steps for smart meter functionality: 1.) Two-way communication: Smart meters enable seamless two-way communication between consumers and utility companies. 2.) Real-time data collection: These devices continuously collect and transmit real-time data on energy consumption or resource usage. 3.) Remote monitoring: Utility providers can remotely monitor consumption patterns without the need for physical visits to the property. 4.) Demand response: The devices support demand response programs by providing insights into peak usage times and allowing utilities to adjust supply accordingly. 5.) Integration with smart grids: Smart meters play a crucial role in the development of smart grids, contributing to an intelligent and interconnected energy infrastructure.

How is smart meter data transmitted?

Once smart meters have measured and recorded energy consumption, the communications module transmits data to utility companies using various methods: 1.) Radio frequency (RF) signals: This method is common for large-scale deployments due to cost-effectiveness. It ensures long-range communication but susceptible to interference and may require additional infrastructure. 2.) Cellular networks: This method relies on existing networks like 4G or 5G for widespread coverage. It is more resistant to interference, but potential for additional data transmission costs. 3.) Broadband connections: This system utilizes broadband networks (DSL, fiber-optic) for fast and reliable transmission. It requires significant infrastructure investments, particularly in rural areas. 4.) Power line communication (PLC): This method transmits data over existing power lines, eliminating the need for extra infrastructure. It is considered cost-effective but also performance influenced by electrical noise and distance.

Smart meter challenges

Some of the challenges of smart meter technology are: 1.) Privacy concerns: Utility providers often complain about the risk of unauthorized access to detailed energy usage data. One way to mitigate this issue is to adopt data protection measures like encryption. 2.) Cybersecurity threats: Like other software, there is always vulnerability to hacking or denial-of-service attacks, which requires significant investment in advanced cybersecurity measures. 3.) Customer resistance: In some cases, the customer resists embracing the technology due to privacy, cybersecurity, or health concerns. This is why, utility service providers and smart meter solution providers must address through public education on smart meter safety. 4.) High upfront costs: Another challenge that leads to low adoption rates is the substantial initial investment for smart meter installation. However, customers and utility providers must be informed on the long-term benefits, including reduced operating costs and increased energy efficiency. 5.) Interoperability and standardization: Utility service deliverers are in need for seamless communication among devices and systems, which can be handled through standardization. This way, utility firms can facilitate the integration with existing systems and smart grid components.

Benefits of smart meter solutions

Top benefits smart meter solutions offer include: 1.) Accurate Billing: Smart metering eliminates estimation errors with automatic, precise data transmission. It ensures fair and accurate billing for customers. 2.) Real-time energy usage monitoring: Smart meter solutions enables consumers to monitor consumption patterns in real time, and facilitates informed decisions to reduce energy consumption and save costs. 3.) Enhanced energy efficiency: Smart metering tools empower consumers to make energy-conscious choices. This way, they lead to behavioral changes, reduced consumption, and lower utility bills, downsizing energy costs. 4.) Faster & easier service: Smart metering software allows utilities to detect and resolve issues remotely, speeding up response times and minimizes inconvenience for consumers. 5.) Integration with smart home technology: Smart meters can enable automation and optimization of energy usage and integrate with smart thermostats for efficient heating and cooling. 6.) Support for renewable energy: By providing real-time data for better management of renewable sources, smart meter technology ensures a stable and reliable energy distribution system. 7.) Reduced environmental impact: Since smart metering enables monitoring and reduction of utility demand, it contributes to decreased reliance on older, less efficient power plants, reducing environmental impact.

Enterprise Software Industry Software Utilities Software

Compare 10 Smart Meter Solutions

Hazal Şimşek

updated on Apr 4, 2025

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Smart meters eliminate constraints of traditional electricity meters, improving the advanced metering infrastructure. Smart meter solutions play a vital role in harnessing renewable energy sources, contributing to a more sustainable energy landscape.

Therefore, smart meter rollout reached up to 80% with 128 million smart meters in the US. ¹ The rate is higher for 13 of the EU countries like Sweden, Denmark, Finland, Estonia, Spain, Norway, Luxembourg, Latvia, Italy, France, Malta, Slovenia and the Netherlands. ²

Despite growing interest, the smart metering landscape remains intricate, featuring a multitude of tools and diverse contributing technologies. This article aims to disentangle this complexity, offering clarity and insights into the diverse facets of smart meter solutions.

Vendor	Type	# of employees	Gartner	Year founded	Quarters
RunMyJobs by Redwood	Workload automation and job scheduling software	414	4.3/5.0 based on 63 reviews	1993	USA
TIBCO EBX	Meter data management software	3,387	3.9/5.0 based on 154 reviews	1997	USA
Esri ArcGIS	Geographic information systems software	6,452	4.9/5.0 based on 5 reviews	1969	USA
Schneider Electric SE	Smart meter provider	81,119	4.3/5.0 based on 46 reviews	1836	France
Honeywell	Smart meter provider	130,384	4.5/5.0 based on 6 reviews	1906	USA
Landis+Gyr	Smart meter provider	4,777	4.5/5.0 based on 6 reviews	1986	Switzerland
IBM Maximo for Utilities	Advanced metering infrastructure solution	309,079	4.3/5.0 based on 266 reviews	1911	USA
Siemens	Advanced metering infrastructure solution	214,501	4.4/5.0 based on 16 reviews	1847	Germany
Itron Inc.	Advanced metering infrastructure solution	5,497	3.6/5.0 based on 12 reviews	1977	USA
ABB Ltd.	Advanced metering infrastructure solution	98,636	4.0/5.0 based on 1 reviews	1988	Switzerland

The table lists smart meter solutions based on their number of reviews within their respected category, except the sponsors which are positioned at the top. The categories are separated into two categories:

Advanced metering infrastructure (AMI) tools that deliver an end-to-end smart meter offering
Complementary tools such as workload automation, smart meter providers, and other infrastructure management tools like meter data management and geographic information system tools.

Notice that these are selected 10 solutions based on the screening processes below.

Screening smart metering solutions

The list of smart meter providers comprises over 45 tools, and when additional tools that support smart metering solutions are taken into account, the catalog further expands. Therefore, we screen these tools, focusing on 3 pivotal factors:

Number of employees: We prioritized vendors with over 100 employees to assess their workforce scale and operational capacity.
Solution category: We selected tools from specific complementary categories based on their relevance and comprehensiveness, such as WLA tools or AMI software.
B2B review presence: We excluded tools that do not have any review or score on any B2B platforms.

Top 4 Advanced Metering Infrastructure (AMI) systems

These products offer an end-to-end solution for deploying and managing advanced metering, including smart meters, communication systems, and data management solutions. AMI enables bidirectional communication between smart meters and utility backends, allowing real-time data collection, remote monitoring, and control.

7.) IBM Maximo for Utilities: IBM Maximo for Utilities empowers utility providers with comprehensive tools to manage, govern, and optimize metering operations. IBM Maximo delivers

Seamless integration with existing utility systems
A centralized and consistent view of metering data
Asset reliability and compliance with regulations
Real-time monitoring to foster efficiency
Preventive maintenance to minimize downtime and extend the lifespan of metering assets.

The image shows how advanced smart meter solutions work

8.) Siemens: Siemens’ platform seamlessly integrates metering data into a unified system, fostering operational efficiency and data-driven decision-making. Siemens focus on

Real-time monitoring and analytics to enhance customer service
Energy management to optimize energy distribution
Compliance with regulatory requirements
Improved grid reliability to maximize the operational excellence.

9.) Itron Inc: Itron’s platform offers utilities a comprehensive suite of tools to gather, analyze, and act upon metering data efficiently. This system facilitates accurate billing, demand response, and proactive maintenance. Itron’s innovative technology ensures:

Communication between devices, providing real-time insights into energy consumption.
Accurate billing and demand response, increasing reliability
Proactive maintenance, improving operational excellence.

10.) ABB: ABB Ltd. presents an innovative enterprise solution for advanced metering infrastructure. ABB’s system seamlessly integrates into existing frameworks, offering a centralized hub for managing, analyzing, and optimizing metering data. This platform

Ensure real-time monitoring to support informed decision-making
Streamline processes to improve operational efficiency
Ensure data integrity and compliance with industry standards.

Vendor	Year founded	Quarters	# of employees
IBM IEC CIM	1911	USA	309,079
Siemens	1847	Germany	214.501
Honeywell	1906	USA	130,384
ABB Ltd.	1988	Switzerland	98.636
Schneider Electric SE	1836	France	81.119
Microchip	1989	USA	16,373
Renesas	2002	Japan	10,260
Esri ArcGIS	1969	USA	6,452
Itron Inc.	1977	USA	5.497
Landis+Gyr	1986	Switzerland	4.777