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The projected surge in smart metering positions Latin America and the Caribbean as a major new demand center for grid-focused IoT. Rapid rollouts will force utilities to mature data analytics, interoperability, and cybersecurity practices much faster than in past infrastructure cycles. Vendor dynamics—Chinese suppliers in South America versus North American and global vendors in Central America and the Caribbean—signal diverging technology stacks and standards paths. This acceleration underlines how utility IoT is becoming a strategic lever for tackling both energy losses and regional grid modernisation.
Smart Electricity Meter Installations to Nearly Triple by 2030, Led by Brazil and Mexico
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, according to a new report by Berg Insight.
The IoT analyst firm reveals that the penetration of smart electricity meters in Latin America and the Caribbean – 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, the Dominican Republic, Jamaica, Puerto Rico and Trinidad and Tobago – reached 9.7 percent in 2025.
The installed base of smart electricity meters is forecasted to grow at an impressive compound annual growth rate of 22.7 percent during 2025–2030 to reach a total of 61.3 million units at the end of the forecast period, 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 percent in 2025 to 30.6 percent in 2030. Brazil and Mexico are expected to drive the majority of annual shipment volumes of smart meters, accounting for nearly 70 percent 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. 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 percent in 2025 to 84 percent by 2030. Besides Brazil, this growth will primarily be driven by countries such as Argentina, Colombia, Ecuador and Peru”, said Felix Linderum, Analyst at Berg Insight.
According to the newly released 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 drastically 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. 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”, concluded Mr. Linderum.
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