New Delhi, April 08, 2024 (GLOBE NEWSWIRE) — According to the newest Astute Analytica analysis, the India smart meter market is projected to realize a market dimension of US$ 3,179.5 million by 2032 from US$ 219.7 million in 2023 at a CAGR of 34.57% throughout the forecast interval 2024–2032.

The Indian good meter market is experiencing important momentum. As of 2024, over 8.6 million good meters have been put in throughout the nation beneath the Smart Meter National Program (SMNP), working in the direction of the federal government’s bold purpose of putting in 250 million good meters nationwide by 2025. Energy Efficiency Services Limited (EESL), the driving pressure behind the SMNP, has an order e-book of round 12 million good meters as of 2023, highlighting the continuing surge in demand.

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State-wise adoption of good meters reveals a various panorama. Uttar Pradesh leads the cost with over 1 million good meters put in as of 2023. Bihar demonstrates robust intent with plans to put in good pay as you go meters for all its 1.8 crore shoppers by 2025. Other key states akin to Delhi (2.5 million goal by 2025), Madhya Pradesh (1 million by 2024), and Rajasthan (270,000 put in) underline the nationwide shift in the direction of good metering. Large-scale tenders and contracts additional spotlight the market’s progress trajectory. In 2022, EESL floated a young for two.35 million good meters, the second-largest such contract in India good meter market. Major gamers like Schneider Electric, Genus Power, and HPL Electric are vying for this contract. EESL additionally issued a young for 1.5 million good meters particularly for the New Delhi Municipal Council (NDMC) space in 2023.

Domestic Manufacturing of Smart Meters is Promoted

Importantly, good meters deployed beneath the SMNP are domestically manufactured, showcasing India’s self-reliance on this sector. The authorities’s mandate for minimal 50% home worth addition ensures native manufacturing advantages from this progress. These meters supply substantial benefits – they maintain the potential to considerably scale back India’s combination technical and industrial (AT&C) losses from 21% to 12-15% by 2024-25, leading to potential annual financial savings of over 200 billion items of electrical energy.

India’s efforts align with world traits. Over 100 million good meters had been put in worldwide in 2022, bringing the worldwide complete to roughly 1.8 billion. China boasts the best penetration at over 500 million, whereas the United States has roughly 110 million good meters. The European Union goals for 80% good meter substitute by 2024.

Key Findings in India Smart Meter Market

Installation of Smart Water and Gas Meters are on the Rise, But Electricity Meters Control Over 58% Revenue

Beyond electrical energy, India good meter market is extending the advantages of good metering to different utilities. The Jal Jeevan Mission envisions good water meters for all rural piped water connections by 2024, with pilot initiatives underway in cities like Delhi, Bengaluru, and Pune. Case research present that putting in good water meters has helped some residential complexes in India scale back their water consumption by 25-30%. Additionally, India plans a phased rollout of good fuel meters in 40 cities in 2023-24. Indraprastha Gas Ltd (IGL) targets the set up of 200,000 good fuel meters in Delhi by 2024, aligning with a worldwide market anticipated to achieve $3.1 billion by 2024.

Smart meters in India depend on mobile (2G/3G/4G) or RF mesh communication, with knowledge securely saved and accessible to shoppers via numerous platforms. This deal with knowledge highlights the potential for good meters to empower shoppers with real-time info, enabling knowledgeable vitality administration selections.

Powerline Communication is the Most Dominant Communication Method in India Smart Meter Market, Control over 40% Market Share

Powerline Communication (PLC) is poised to take care of its dominance within the Indian good meter market because of a number of compelling benefits. By straight leveraging the present energy grid, PLC presents a cheap and scalable communication answer that minimizes the necessity for separate community infrastructure. This strategy aligns completely with India’s expansive geography and the necessity to convey good metering to each city and rural areas with out incurring substantial community setup prices.

PLC’s confirmed observe document of reliability, as seen in over 40 million meters worldwide, is one other essential issue. Utilities require reliable communication networks, and PLC delivers with persistently excessive distant meter studying success charges. This reliability interprets to lowered operational prices and elevated effectivity for utilities. The flexibility of PLC know-how is a serious power. PLC not solely helps core good metering capabilities (distant studying, disconnects, and many others.) but in addition presents a basis for broader good grid functions. Demand response initiatives, distribution automation, and extra, will be seamlessly built-in, resulting in elevated effectivity and grid stability. It’s necessary to notice that worldwide requirements like PRIME and G3-PLC present a strong framework for PLC implementations, guaranteeing compatibility and interoperability.

The ongoing growth of PLC know-how guarantees to make it much more compelling. Innovations like MIMO will enhance knowledge charges and general community effectivity. In India particularly, hybrid PLC-wireless architectures maintain promise for particular use circumstances the place wi-fi backhaul can enhance community attain.

India’s Smart Meter Market Demonstrates Surging Potential

The fast adoption of good meters in India signifies a market with immense progress potential. As of January 2024, 8.6 million good client meters have been put in, with 3.02 million put in in 2023-24 alone. This represents a close to doubling of installations in comparison with the earlier 12 months, highlighting the accelerating tempo of the shift. Underscoring this trajectory, tenders for 104.3 million good meters have already been awarded. An further 39.5 million are beneath analysis, and 22 million extra are within the last phases of the tendering course of. This stage of funding demonstrates the market’s robust momentum.

The potential affect of good meters market in Inda is critical. Industry estimates counsel India might save Rs 9.5 trillion by changing 250 million standard meters with good know-how—a compelling return on a Rs 1.25 trillion funding. Beyond financial financial savings, good meters will revolutionize the metering panorama:

• Utility Benefits: DISCOMs acquire operational effectivity by aligning energy procurement with real-time demand, decreasing losses, and streamlining billing.
• Consumer Advantages: Smart meters enhance transparency, allow higher vitality administration, and drive buyer engagement.
• Wider Impact: Potential to contribute to nationwide grid stability and sustainability targets.

The Indian good meter market is poised for important enlargement. Continued authorities assist, rising client consciousness, and the tangible advantages of good meter know-how will drive this progress within the coming years.

AMI Technology Rules the Indian Smart Meter Market, Controls over 71% Market Share             

Advanced Metering Infrastructure (AMI) is quickly rising because the cornerstone of the Indian good meter market. AMI, with its built-in system of good meters, communication networks, and knowledge administration, essentially transforms the connection between utilities and shoppers. AMI marks the preliminary step within the broader digitalization of India’s electrical grid management programs, enabling exact on-line meter studying, management, and clever administration of power-related functions. This know-how includes key parts like good meters (encompassing electrical, fuel, warmth, and water meters), entry factors, community infrastructure, and complicated knowledge administration programs.

AMI in India good meter market presents a mess of advantages for utilities. It empowers them with a wealth of information, together with tamper detection, interval knowledge, outage info, and energy high quality insights. Utilities can leverage AMI to watch electrical energy, fuel, and water consumption in real-time, considerably decreasing the necessity for guide meter readings and minimizing error potential. Importantly, AMI facilitates distant actions akin to time-based pricing changes, demand-response measures, or service disconnections. This granular knowledge additionally helps utilities optimize energy era and distribution primarily based on detailed vitality utilization patterns.

Consumers additionally stand to achieve considerably from AMI’s capabilities. Detailed info on their vitality consumption, together with particular time intervals, utilization quantities, and pricing, empowers shoppers to make knowledgeable selections and higher handle their vitality utilization. This interprets to potential for elevated vitality financial savings as a direct results of AMI implementation. Furthermore, AMI permits improved customer support, permitting utilities to determine and tackle outages or different points with higher agility.

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North India Drives India’s Smart Meter Revolution, Capturing Over 50% Market Share

North India stands because the clear chief in India’s good meter market. States like Uttar Pradesh, with over 1 million installations, and Delhi, concentrating on 2.5 million good meters by 2025, reveal this area’s robust dedication to good metering know-how. Tata Power Delhi Distribution Ltd (TPDDL) is actively contributing to this transition with plans for two.5 lakh good meters in its preliminary section and a complete of 16 lakh operational meters by 2025. Other North Indian states like Madhya Pradesh (aiming for 1 million good meters) and Rajasthan (270,000 put in) are additional solidifying the area’s place within the good meter panorama.

Beyond mere installations, the advantages of good meters in North India have gotten evident. A CEEW survey highlights optimistic client sentiment, with 60% of good meter customers throughout six states (together with Uttar Pradesh) expressing satisfaction. Prepaid good meter customers are actively using the know-how, with round 30% recharging greater than as soon as a month and the best share in Uttar Pradesh (38%).  Consumers throughout the surveyed states report benefits akin to elevated management over electrical energy bills and improved energy provide high quality.

The flexibility supplied by pay as you go good meters, as seen in Bihar, permits shoppers to tailor their consumption primarily based on want and affordability. Interestingly, even throughout the COVID-19 lockdown, DISCOMs in states with good meters persistently generated every day income via pay as you go recharges. This sample, together with a median every day recharge stability of ₹20, underlines how good meters present each client empowerment and monetary stability for utilities.

India Smart Meter Market Key Players

• Meter Manufacturers
  • Avon Meters
  • Badger Meter, Inc.​
  • BENTEC India Ltd.
  • EDMI Limited​
  • Eppeltone Engineers Pvt. ltd.
  • Gram Power
  • Holley Technology Ltd​
  • Honeywell International Inc.​
  • Itron Inc.​
  • Kamstrup​
  • L&T Electrical & Automation​
  • Landis+Gyr​
  • Mitsubishi Electric Corporation​
  • Neptune Technology Group Inc.​
  • Networked Energy Services​
  • Schneider Electric​
  • Sensus​
  • Siemens​
  • Wasion International​
• AMI Smart Meters Manufacturers​ 
  • Adani Transmission Ltd
  • Allied Engineering Works Pvt. Ltd. (AEW)
  • Apraava Energy Private Limited
  • BCITS
  • Dongfang Electronics Co., Ltd.​
  • Eaton Corporation plc​
  • Elmeasure
  • Fluentgrid Limited
  • Genus Power Infrastructures Limited​
  • HPL Electric & Power Ltd.
  • IntelliSmart Infrastructure Pvt. Ltd.
  • JnJ Powercom Systems Ltd.
  • L&T Electrical & Automation​
  • Lakshmi Electrical Control Systems Ltd​
  • Montecarlo Limited
  • Synergy
  • Tata Power
  • Techno Electric
  • ZenMeter
  • ZTE Corporation​
  • Other Players

Key Segmentation:

By Type

• Smart Electricity Meter
• Smart Water Meter
• Smart Gas Meter

By Communication Method  

• Radio Frequency
  • Heat-based Meters
  • Diode Detector-based Meters
• Power Line Communication
• Cellular

By Phase

• GISM (Single Phase)
• GIST (Three Phase)
• GISS (Heavy Consumers)

By Technology

• Automated Meter Reading (AMR)
• AMI

By End User

• Residential
• Commercial
• Industrial

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