India Smart Electric Meter Market Increasing Demand, Growth Analysis and Future Outlook by 2031
India Smart Electric Meter Market Increasing Demand, Growth Analysis and Future Outlook by 2031
Blog Article
The Indian smart electric market is expected to grow at a CAGR of approximately 10.4% during the forecast period. The major factors for the growth of the market are improvement of basic electricity infrastructure, adoption of smart electric grids, and increasing per capita consumption in the nation. India is one of the fastest growing economies across the globe; however, its industrial growth is still limited due to inadequate energy availability.
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According to International trade administration ranking, India ranks third in the smart grid investment, after the US and China. The Indian Smart Grid Task Force (ISGTF), an inter-ministerial group that deals with activities related to smart grid technology, established a Smart Meter Task Force in March 2011, for the development of cost-effective smart meters in India. The task force demonstrated that India needs 100 million low-cost smart meters, priced between $16– $25 per meter to provide critical data to the smart grids. This price is considerably lower than the average price of the US. The India Smart Grid Forum, which was a public-private partnership consisting of utility companies, and other parties released a circular for making smart meters to be the norm for all new connections across the region.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
India Smart electric meter Market by Communication Technology
- Power Line Communication
- Cellular
- Radio Frequency
India Smart electric meter Market by Phase
- Single Phase
- Three Phase
India Smart electric meter Market by Application
- Residential
- Commercial
- Industrial
Company Profiles
- Aclara Technologies LLC
- Elster Group
- Holley Metering Ltd.
- Itron Inc.
- Landis+Gyr AG
- Schneider Electric SE
- Sensus
- Siemens AG
- Silver Spring Networks Inc.
- Toshiba Corp.
- Wasion Group
The Report Covers
- Comprehensive research methodology of the India Smart Electric Meter market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the India Smart Electric Meter market.
- Insights about market determinants which are stimulating the India Smart Electric Meter market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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