Press Release

India Smart Meter Market to Grow at a Substantial Rate through 2025

Growing pressure on conserving natural resources and government regulations on the use of water, electricity and gas to positively influence smart meters market in India

According to TechSci Research report, India Smart Meter Market By Product Type (Smart Energy Meters, Smart Water Meters, Smart Gas Meters, Others), By Application (Industrial, Commercial, Residential), By Technology (Automatic Meter Reading, Advanced Metering Infrastructure, Others), By Region, Forecast & Opportunities, 2025, India smart meter market is expected to grow at a substantial rate during the forecast period on account of growing adoption of  smart meters in the country and initiatives  taken by the government such as Smart Meter National Programme. Additionally, smart meters are being implemented, with the aim of improving the efficiency of power networks. The primary concern behind use of these meters is increasing energy consumption. This "next generation" meter sends electronic meter readings to energy supplier automatically. The smart meter architecture is supposed to empower consumers in choosing their power providers on one hand and help distribution companies deal with power theft on the other by minimizing human intervention in metering, billing and dues collection.

According to the latest data provided by the government, there are around 0.3 billion energy meters, installed across Indian subcontinent. Over the next three years, the government aims at replacing every energy meter with smart prepaid meters. This is the part of USD40 billion worth Atal Distribution System Improvement Yojana (ADITYA), which is India’s biggest energy reform movement. The government believes that the plan will increase distribution substation capacity by 38% by 2022.

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India smart meter market is segmented based on type, application, technology, region and company. Based on type, the smart meter market is segmented into smart energy meters, smart water meters, smart gas meters and others. Smart energy meters accounted for the largest share in 2019 as they enable two-way communication between the meter and the central system employed by the distribution utilities. By combining advanced technology, software, and effective communication systems, smart water meters have emerged with significant benefits. The demand for this type of meter is high also due to increasing water stress, rising energy prices, and aging water systems in the country. The smart gas meters and smart water meters provide the consumption patterns and further encourage the efficient management of resources.

Major players operating in the Indian smart meter market include Triton Process Automation Pvt. Ltd., Advance Metering Technology Ltd., Maven Systems Pvt. Ltd., Genus Power Infrastructures Ltd., ITI Ltd., Schneider Electric India Pvt. Ltd., Siemens Ltd., Satya Electrocom Private Limited, Trinity Energy Systems Private Limited and GEESYS Technologies (India) Private Limited, etc. These companies are leveraging on strategic innovations and collaborative initiatives to increase their market share. The adoption of a smart meters in the industrial sector is helping the market players in the manufacturing segment, to optimize energy consumption levels. Also, supportive government framework and policies are increasing the rate of smart meter installations in the residential, commercial, and industrial sectors.

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“Rapid increase in energy consumption, increasing investments in power and end use sectors around the country has made smart meters a necessity. The market is anticipated to grow at a significant rate in India owing to their huge market demand. Additionally, the country is focusing on upgrading and replacing old electricity meters with prepaid smart meters. The key challenge before market players is creating awareness among consumers along with bringing interoperability. They need to overcome this challenge to gain a stronghold in the market,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

India Smart Meter Market By Product Type (Smart Energy Meters, Smart Water Meters, Smart Gas Meters, Others), By Application (Industrial, Commercial, Residential), By Technology (Automatic Meter Reading, Advanced Metering Infrastructure, Others), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of India smart meter market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India smart meter market.

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