Research by Datamonitor shows the smart meter market will grow to be worth $5.7 billion (£3.5 billion) by 2015.
This represents a 350 per cent increase on 2009 levels and is described by one expert as being a sector with "unstoppable momentum".
Jon Lane, energy director at the organisation behind the study, added: "The market is snowballing as policy makers and utilities invest in smart metering because everyone else is doing it."
However, he said the technology will only have a positive impact if people lower their fuel consumption.
Switching to a dual fuel supplier may be another way to reduce monthly outgoings on electricity and gas.
A recent report by the Daily Mail suggested comparing electricity prices online can save up to £200 a year.
Posted by Richard Eden
Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.