Key insights (AI-powered):
The projected rise in smart metering makes Latin America and the Caribbean a major new demand center for grid-centric IoT. Rapid rollouts will force utilities to develop data analytics, interoperability and cybersecurity practices much faster than in previous infrastructure cycles. The vendor dynamics—Chinese vendors in South America versus North American and global vendors in Central America and the Caribbean—suggest different technology stacks and standard paths. This acceleration underscores how utility IoT is becoming a strategic lever to address energy losses and modernize regional grids.
Smart meter installations are expected to nearly triple by 2030, led by Brazil and Mexico
At a time when energy efficiency and sustainability are paramount, the market for Smart Metering in Latin America and the Caribbean Massive growth is expected in the coming years, according to a new report from 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 of Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Paraguay, Peru and Uruguay, the Central American countries of Belize, Costa Rica, El Salvador, Guatemala, Honduras, Mexico and Panama, and the Caribbean countries and territories of Bahamas, Barbados, the Dominican Republic, Jamaica, Puerto Rico and Trinidad and Tobago – reached 9.7 percent in 2025.
The installed base of smart meters is forecast to grow at an impressive compound annual growth rate of 22.7 percent during 2025-2030, reaching 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 in the region are still in the early stages of deployment. Over the next five years, the penetration rate of smart meters in the region’s largest market – Brazil – will increase from 9.2 percent in 2025 to 30.6 percent in 2030. Brazil and Mexico are expected to account for the majority of annual smart meter shipment volume, accounting for nearly 70 percent of shipments throughout the forecast period.
“The smart metering landscape in Latin America and the Caribbean continues to evolve 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 increase its share of annual shipment volume from around 65 percent in 2025 to 84 percent in 2030. In addition to Brazil, this growth will be driven primarily by countries such as Argentina, Colombia, Ecuador and Peru.”said Felix Linderum, analyst at Berg Insight.
According to the newly published study, annual shipments of smart meters in Latin America and the Caribbean will increase 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 in the world.
Utilities across Latin America and the Caribbean are using smart metering to dramatically reduce non-technical losses, which include theft and billing inefficiencies, thereby improving their operating margins and quality of service.
“Competition for leadership in the smart metering market in Latin America and the Caribbean is intensifying. Over the last decade, Chinese smart meter suppliers have made significant inroads in the market, particularly in South America, leveraging their ability to offer competitive pricing. The Central American and Caribbean markets are now occupied primarily by North American and international suppliers, largely due to common technical standards, English-speaking business environments and long-standing supplier relationships.”concluded Mr. Linderum.
