Compare 10 Smart Meter Solutions based on 500+ reviews in '24
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 6 complementary smart meter solutions
Workload automation and job scheduling software
Workload automation (WLA) tools automate and manage complex workflows within an organization. In the context of smart metering, workload automation streamline data processing, analytics, and reporting tasks associated with managing large volumes of meter data.
1.) RunMyJobs by Redwood: RunMyJobs is a workload automation and job scheduling solution designed to streamline the processes associated with smart meter solutions. It enhances operational efficiency, automates complex tasks, and delivers real-time insights, all while maintaining a high level of security for smart meter data by providing:
- End-to-End smart meter management: RunMyJobs can handle the complete smart meter lifecycle, from the initial data collection to the critical meter-to-cash process involving customer billing and payments.
- Automation of complex smart meter operations: It automates intricate smart meter tasks and operations, facilitating large-scale transactions and optimizing overall efficiency.
- Real-time visibility and control: Redwood’s tool allows users to monitor their smart meter data in real-time, offering visibility into billing, consumption patterns, and cash flow for informed decision-making.
- Enhanced security measures: RunMyJobs includes security features like full encryption and a single-tenant architecture to safeguard sensitive smart meter data.
Discover other WLA tools in our constantly updated and comprehensive vendor list.
Infrastructure management tools
Analytics Platforms leverage the data generated by smart meters to derive actionable insights. These platforms enable utilities to perform in-depth analysis, forecasting, and optimization. They play a crucial role in enhancing decision-making processes related to energy consumption, grid management, and customer behavior.
Meter Data Management (MDM) Systems
Meter Data Management (MDM) systems are integral components in the smart metering ecosystem. These systems handle the processing, validation, and management of the extensive data generated by smart meters. They ensure accurate billing, maintain data integrity, and securely store the vast datasets collected from smart meter deployments.
2.) TIBCO EBX: The tool serves as an enterprise data management platform crafted by TIBCO Software to oversee, regulate, and distribute master data across an organization. TIBCO EBX empowers organizations to establish a centralized and uniform perspective of their master data. Through its integration to smart meters, TIBCO offers:
- A centralized repository for master data, housing accurate and current information crucial for customer interactions, operational efficiency, and decision-making.
- A robust mechanism for validating, cleansing, and standardizing master data, effectively preventing inconsistencies and errors to uphold data integrity throughout the utility landscape.
- Cross-system integration capabilities, facilitating seamless data exchange and interoperability across various systems within the utility infrastructure.
- Tools and frameworks designed to institute, enforce, and monitor data governance policies, thereby enhancing compliance with regulatory requirements and internal standards while fostering a controlled data environment.
Explore MDM software in our comprehensive and up-to-date vendor list.
Geographic Information System (GIS)
Geographic Information System (GIS) utilizes spatial mapping and visualization tools to analyze and interpret data in the context of smart metering. GIS helps utilities map the geographical distribution of smart meters, plan infrastructure deployments, and optimize maintenance processes based on location data.
3.) Esri ArcGIS: The software is specifically crafted for mapping and spatial analysis, equipping users with sophisticated instruments to generate, control, and assess geographic data, empowering them to make well-informed decisions grounded in spatial insights. By leveraging ArcGIS, utility providers are poised to:
- Elevate customer services by integrating spatial capabilities.
- Enhance real-time monitoring and fortify emergency response planning within utility operations.
- Optimize asset management and network planning to ensure infrastructure reliability, safety, efficiency, and compliance with regulatory standards.
Check out more location intelligence software like GIS.
Smart meter providers
Smart meter providers are specialized in the creation and supply of smart metering systems. These intelligent devices transmit data on energy and water usage. This way, smart meter reduce operational costs and improve consumer services.
4.) Schneider Electric SE: Schneider Electric SE offers a comprehensive smart meter platform for energy management, with a focus on sustainability. Schneider Electric’s tools can:
- Provide real-time visibility into energy consumption and grid performance
- Empower utilities to optimize energy distribution through data accuracy and analytics
- Enhance operational efficiency by proactively addressing grid challenges.
5.) Landis+Gyr: Landis+Gyr delivers a smart meter platform to optimize resource management, enhance grid reliability, and meet the demands of a dynamic energy market through
- Accurate data collection for informed decision-making, billing accuracy, and overall operational efficiency
- Seamless communication for better connectivity between devices to promote efficient data exchange and collaborative functionality within the utility ecosystem
- Real-time monitoring to make proactive decisions and respond swiftly to changes in demand or grid conditions
- Interoperability promoting collaborative integration and harmonious functioning within the broader utility infrastructure.
6.) Honeywell: Honeywell offers utilities a comprehensive and advanced platform for efficient energy management. Honeywell ensures:
- Precise metering data collection and analysis to optimize energy distribution and improve customer service
- Improved monitoring and decision-making by delivering real-time data insights
- Easy integration with renewable energy sources to manage and incorporate sustainable energy into distribution networks.
Top 4 Advanced Metering Infrastructure (AMI) systems
These products provide an end-to-end solution to rolling out and managing advanced metering from a software and hardware standpoint, such as smart meters, communication systems, and data management solutions. AMI enables bidirectional communication between smart meters and utility backends, facilitating real-time data collection, remote monitoring, and control. This infrastructure is fundamental for utilities to make informed decisions, optimize resource allocation, and improve overall grid management.
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.
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 |
| TIBCO EBX | 1997 | USA | 3,387 |
| Genus Power Infrastructures Ltd. | 1992 | India | 2.144 |
| Aclara Technologies LLC (Hubbell Incorporated) | 1977 | USA | 968 |
| Iskraemeco Group | 1945 | Slovenia | 763 |
| Redwood RunMyJobs | 1993 | USA | 402 |
| Intellihub – Smart Utility Infrastructure | 2018 | Australia | 343 |
| Ubicquia, Inc | 2014 | USA | 176 |
| Ohmconnect | 2013 | USA | 100 |
| EnOcean | 2001 | Germany | 86 |
| Piclo | 2013 | UK | 73 |
| Amperon | 2018 | USA | 72 |
| Satellite Vu | 2016 | UK | 59 |
| Verdigris Technologies | 2011 | USA | 53 |
| Enerlink – Intelligent Energy Management | 2018 | Chile | 52 |
| SparkMeter | 2013 | USA | 40 |
| Holley Technology Ltd. | 1970 | China | 33 |
| Ostrom | 2020 | Germany | 31 |
| Copper Labs | 2016 | USA | 23 |
| Hive Power Sagl | 2017 | Switzerland | 19 |
| EVUlution – Smart Energy Monitoring | 2020 | Switzerland | 13 |
| Switch – Decentralized Utility Systems | 2018 | South Africa | 13 |
| Energy Assistant – Energy Management Platform | 2018 | Germany | 6 |
| RF Meters – Smart Wireless Energy Meters | 2019 | Romania | 4 |
| Evoly Energy – Smart Metering as a Servic | 2020 | Switzerland | 3 |
| High Five Innovation Labs – Meter Conversion Solutions | 2019 | India | 3 |
| EngenIQ – Energy Consumption Reduction | 2019 | UK | 1 |
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.
Transparency statement
AIMultiple serves for several tech firms which are sorted on the top of the tables and linked to their products.
Further reading
Explore more on utility automation tools by checking out our detailed articles like:
- Top 7 Meter-to-Cash Solutions: A Comprehensive Guide
- Compare 10 SAP Utility Solutions based on +3000 reviews
- SAP Meter to Cash Process: 10 Technologies to automate it
If you need more help on identifying the best smart meter solution for your business, do not hesitate and let us know:
External readings
External Links
- 1. Jonesi J.S (2013). “128 million smart meters in US in 2023.” SEI. Accessed at January 19, 2024.
- 2. Jonesi J.S (2023). “Smart metering progresses in Europe but 11 countries have barely started.” SEI. Accessed at January 19, 2024.
- 3. “Siemens AMIS System Architecture.” Siemens. Accessed at January 20, 2024
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