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. 

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. 

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.

Research Methodology

The market study of the India Smart Electric Meter market is incorporated by extensive primary and secondary research conducted by the research team at OMR.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for smart electric meter manufacturers, distributors and suppliers, and other related companies for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. India Smart Electric Meter Market Research and Analysis by Communication Technology
2. India Smart Electric Meter Market Research and Analysis by Phase
3. India Smart Electric Meter Market Research and Analysis by Applications

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.