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 the World Energy Outlook, India ranks sixth in terms of global electricity consumption, yet reportedly suffers from electricity transmission and distribution losses of around 30% and mismatch of supply and demand in electricity by approximately 12%. India’s ministry of power has been contributing for smart grid investment to cut electricity losses. It is estimated that India will install 130 million smart meters by 2021. In order to ensure a reliable supply of electricity due to frequent blackouts and an inefficient electric supply especially in villages, large companies such as Landis+Gyr and TATA Power DDL are operating in India to ensure reliable supply of electricity. All these initiatives are spurring the growth of smart electric meter market.
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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.
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
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