In brief
The <meter> element represents a value within a known range.
Useful to know
The <meter> element represents a value within a known range. For example, <meter min="0" max="100" value="65">65%</meter> could illustrate storage that is 65% occupied. Progress through an ongoing upload is instead the purpose of <progress>. [1]
The low, high and optimum attributes can describe thresholds and a preferred region. They must reflect the actual measurement: a larger value is not always better. A full battery and a nearly full disk are different situations.
Sources
For further detail and to check the information: