Smart meters (SM) arrangement play an essential role in Smart Grid (SG), serving as advanced energy meters crucial for monitoring and managing energy consumption. This paper provides an in-depth exploration of the significance, functions, and technological aspects of smart meters within the context of the SG. Smart meters acquire data from endusers' load devices, offering a comprehensive measurement of consumers' energy consumption. The obtained information is then communicated to utility companies and system operators, facilitating efficient energy management. The integration of control devices and a number of sensors, supported by a dedicated communication infrastructure, enhances the reliability and functionality of smart meters. The paper summarizes hardware model key facets and functions of smart meters, offering a comprehensive view of their capabilities.