Governments across the globe including North American, European as well as Asia-Pacific countries are taking every possible step to install smart meters in every utilities industry such as gas water and electric. For instance, the US government is taking immense steps to install every household and industry with smart meters according to the US Energy Information Administration. Moreover, increasing deployment of advanced metering infrastructure for the two way communication between service provider and consumers for better customers experience further propels the market growth during the forecast period. Moreover, deployment of AI and IoT in energy management further provide substantial opportunity to the market.