Latin America and the Caribbean are poised for a smart metering boom, according to IoT analyst firmBerg Insight.

In an era where energy efficiency and sustainability are paramount, the market for smart metering in Latin America and the Caribbean is expected to see massive growth in the coming years.

The report reveals that the penetration of smart electricity meters in Latin America and the Caribbean reached 9.7 per cent in 2025. The installed base of smart electricity meters is forecasted to grow at a compound annual growth rate (CAGR) of 22.7 per cent from 2025 to 2030 to reach 61.3 million units, up from around 22.1 million units in 2025.

The smart metering market in Latin America and the Caribbean is becoming increasingly active as a number of utilities across the region are still in the early stages of deployment. Over the next five years, the penetration rate of smart meters in the largest market in the region – Brazil – will increase from 9.2 per cent in 2025 to 30.6 per cent in 2030. Brazil and Mexico are expected to drive the majority of annual shipment volumes of smart meters, accounting for nearly 70 per cent of shipments throughout the forecast period.

“The smart metering landscape in Latin America and the Caribbean continues to develop and annual meter installations are expected to more than double from 2025 to 2030,” said Felix Linderum, analyst at Berg Insight. “South America will account for the majority of new installations, with the region expected to grow its share of annual shipment volumes from around 65 per cent in 2025 to 84 per cent by 2030. Besides Brazil, this growth will primarily be driven by countries such as Argentina, Colombia, Ecuador and Peru.”

According to the study, yearly shipments of smart electricity meters in Latin America and the Caribbean will grow from around 5.2 million units in 2025 to around 11.3 million in 2030. This makes the region one of the fastest growing smart metering markets worldwide.

Utilities across Latin America and the Caribbean leverage smart metering to cut down on non-technical losses, which includes theft and billing inefficiencies, thereby improving their operational margins and service quality.

“The competition for leadership in the smart metering market in Latin America and the Caribbean is intensifying,” said Linderum. “Over the last decade, Chinese smart meter vendors have made significant inroads into the market, particularly in South America, capitalising on their ability to offer competitive pricing. The markets in Central America and the Caribbean are meanwhile mostly occupied by North American and international vendors, largely due to shared technical standards, English-speaking business environments and long-standing supplier relationships.”

The area covered by the report is defined as the South American countries Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Paraguay, Peru and Uruguay, the Central American countries Belize, Costa Rica, El Salvador, Guatemala, Honduras, Mexico and Panama, and the Caribbean countries and territories Bahamas, Barbados, Dominican Republic, Jamaica, Puerto Rico,s and Trinidad and Tobago.

Download the report brochure at media.berginsight.com/2026/01/20162133/bi-smla3-ps.pdf.