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 FY2027.

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: FY2017-FY2020

Base Year: FY2021

Estimated Year: FY2022

Forecast Period: FY2023–FY2027

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:

  • India Smart Meter Market, By Product Type:
    • Smart Energy Meters
    • Smart Water Meters
    • Smart Gas Meters
    • Others

India Smart Meter Market, By Application:

o   Industrial

o   Commercial

o   Residential

India Smart Meter Market, By Technology:

o   Automatic Meter Reading

o   Advanced Metering Infrastructure

o   Others

  •  India Smart Meter Market, By Region:
    • North
    • South
    • East
    • West

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).

It is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]  

1.    Product Overview

2.    Research Methodology

3.    Impact of COVID-19 on India Smart Meter Market

4.    Executive Summary

5.    Voice of Customer

6.    India Smart Meter Market Outlook

6.1.  Market Size & Forecast

6.1.1. By Value

6.2.  Market Share & Forecast

6.2.1. By Type (Smart Energy Meters, Smart Water Meters, Smart Gas Meters, Others)

6.2.2. By Application (Industrial, Commercial, Residential)

6.2.3. By Technology (Automatic Meter Reading, Advanced Metering Infrastructure, Others)

6.2.4. By Region (North, South, East, West)

6.2.5. By Company (FY2021)

6.3.  Product Market Map

7.    North India Smart Meter Market Outlook

7.1.  Market Size & Forecast          

7.1.1. By Value

7.2.  Market Share & Forecast

7.2.1. By Type

7.2.2. By Application

7.2.3. By Technology

8.    South India Smart Meter Market Outlook

8.1.  Market Size & Forecast          

8.1.1. By Value

8.2.  Market Share & Forecast

8.2.1. By Type

8.2.2. By Application

8.2.3. By Technology

9.    East India Smart Meter Market Outlook

9.1.  Market Size & Forecast          

9.1.1. By Value

9.2.  Market Share & Forecast

9.2.1. By Type

9.2.2. By Application

9.2.3. By Technology

10.  West India Smart Meter Market Outlook

10.1.              Market Size & Forecast

10.1.1.    By Value

10.2.              Market Share & Forecast

10.2.1.    By Type

10.2.2.    By Application

10.2.3.    By Technology

11.  Market Dynamics

11.1.              Drivers

11.2.              Challenges

12.  Market Trends & Developments

13.  Policy & Regulatory Landscape

14.  India Economic Profile

15.  Competitive Landscape

15.1.              Triton Process Automation Pvt. Ltd.

15.2.              Advance Metering Technology Ltd.

15.3.              Maven Systems Pvt. Ltd.

15.4.              Genus Power Infrastructures Ltd.

15.5.              ITI Ltd.

15.6.              Schneider Electric India Pvt. Ltd.

15.7.              Siemens Ltd.

15.8.              Satya Electrocom Private Limited

15.9.              Trinity Energy Systems Private Limited

15.10.            GEESYS Technologies (India) Private Limited

16.  Strategic Recommendations

17.  About Us & Disclaimer

 (Note: The companies list can be customized based on the client requirements.)