With the Indian Government urging states
and union territories to replace conventional electricity meters with prepaid
smart meters in three years, the smart meter market is expected to witness
robust growth during the forecast period. This initiative of government aims at
cutting distribution losses and setting the stage for separating the carriage
and content operations of power distribution companies in which carriage refers
to the distribution aspect and content to power.
However, high cost of smart electric
meter is a major constraint for the company manufacturing it. Also, they have a
lifespan of 8-10 years compared to 20-25 years lifespan of traditional meters. This
might hamper the market growth through 2025.
Smart
meters require a two-way communication network, control centre equipment, and
software applications for near real-time gathering and transfer of energy usage
information. They can help reduce aggregate transmission and commercial losses.
They send usage information via radio frequency electromagnetic radiation (RF),
which helps the utility company to effectively manage the energy usage. Its
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.
Favorable government policies along with fiscal incentives are some key factors
driving the smart meters market in India.
India Smart meter market is segmented
based on type, application, technology, region and company. Based on product type,
the market can be segmented into smart
energy meters, smart water meters and smart gas meters. Electricity is one of
the basic human needs in the world. Hence, electric smart meter is the
advancement brought in to maintain data regarding usage and avoiding any
unaccounted consumption.
Based on application, the residential
segment of the global smart electric meter market is expected to hold the largest
market share during the forecast years. The installation of smart electric
meters at residential places would help in reducing the dependence on fossil
fuels, facilitate electricity conservation and accuracy of meter readings.
Major players operating in the India 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, GEESYS Technologies
(India) Private Limited and others. The companies are now developing innovative
products in order to stay competitive in the market.
Years
considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021–2025
Objective of the Study:
- To analyze and forecast the market size of India smart meter
market.
- To classify and forecast India smart meter market based on product type,
application, technology and regional distribution.
- To identify drivers and challenges for India smart meter market.
- To examine competitive developments such as expansions, new product
launches in India smart meter market.
- To conduct pricing analysis for India smart meter market.
- To identify and analyze the profile of leading players operating in
India smart meter market.
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TechSci Research performed both primary as well as exhaustive
secondary research for this study. Initially, TechSci Research sourced a list
of manufacturers across the country. Subsequently, TechSci Research conducted
primary research surveys with the identified companies. While interviewing, the
respondents were also enquired about their competitors. Through this technique,
TechSci Research could include the manufacturers which could not be identified
due to the limitations of secondary research. TechSci Research analyzed the
manufacturers, distribution channels and presence of all major players across country.
TechSci
Research calculated the market size of India smart meter market using a bottom-up approach, wherein data for various end-user
segments was recorded and forecast for the future years. TechSci Research
sourced these values from the industry experts and company representatives and
externally validated through analyzing historical data of these product types
and applications for getting an appropriate, overall market size. Various
secondary sources such as company websites, news articles, press releases,
company annual reports, investor presentations and financial reports were also
studied by TechSci Research.
Key Target Audience:
- Smart meter manufacturers, suppliers, distributors
and other stakeholders
- Government bodies such as regulating
authorities and policy makers
- Organizations, forums and alliances related to
smart meters
- Market research and consulting firms
The study is useful in providing answers to several critical
questions that are important for the industry stakeholders such as
manufacturers, suppliers, partners, end users, etc., besides allowing them in
strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, India smart meter market has
been segmented into following categories, in addition to the industry trends
which have also been detailed below:
- Market, By Product Type:
- Smart
Energy Meters
- Smart
Water Meters
- Smart
Gas Meters
- Others
Market, By Application:
o
Industrial
o
Commercial
o
Residential
Market, By Technology:
o
Automatic Meter Reading
o
Advanced Metering Infrastructure
o
Others
Competitive
Landscape
Company Profiles: Detailed analysis of the major
companies present in India smart meter market.
Available Customizations:
With the given market data, TechSci Research offers
customizations according to a company’s specific needs. The following
customization options are available for the report:
Company Information
- Detailed analysis and profiling of
additional market players (up to five).
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be released soon. If you wish an early delivery of this report or want to
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In case you don’t find what you are looking for, please get in touch with our custom research team at sales@techsciresearch.com