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Smart grids use digital communication technology to detect and react to local changes in usage, improving efficiency and reliability.

The smart grid technology market was estimated at almost 72 billion U.S. dollars in 2024 and is forecast to grow at a Compound-Annual Growth Rate (CAGR) of 20.8 percent until 2029, to reach roughly 185 billion U.S. dollars. [4]

Figure 5: Smart grid market global forecast [4]

Advanced metering infrastructure (AMI)

Advanced Metering Infrastructure (AMI) is a system that consists of smart meters, communication networks, and data management systems that collectively enable two-way communication between utilities and their customers. The primary functions of AMI include:

• Real-Time Data Collection: AMI systems gather detailed energy usage data from smart meters, facilitating precise monitoring and billing.
• Outage Management: Smart meters within AMI systems notify utilities about outages for quicker resolution.
• Demand Response Programs: AMI supports programs that manage consumer energy use during peak times to stabilize the grid.
• Energy Efficiency: Consumers receive detailed usage data, helping them optimize their energy consumption.
• Load Forecasting: Utilities use AMI data for accurate load forecasting and infrastructure planning.
• Remote Services: AMI allows utilities to remotely connect or disconnect services, enhancing operational efficiency.
• Tamper Detection: Smart meters can detect unauthorized access or theft, improving security and revenue protection.

The global Advanced Metering Infrastructure Market size is estimated at USD 17.46 billion in 2024, and is expected to reach USD 31.82 billion by 2029, growing at a CAGR of 12.76% during the forecast period (2024-2029). [5]

Startup Example: Copper Labs

Summary: Copper Labs specializes in real-time data solutions for utility meters, enhancing efficiency for electric, gas, and water utilities without major infrastructure overhauls. Their offerings include advanced meter data collection, customer engagement tools, and AMx technology which speeds up data backhaul, allowing utilities to utilize granular data in real-time. This supports a more responsive, decarbonized, and equitable utility system. Copper Labs aids utilities in integrating DERs, managing demand, and transitioning towards modern metering solutions.