DUBLIN–(BUSINESS WIRE)–The “India Smart Meter Market, By Product Type (Smart Energy Meters, Smart Water Meters, Smart Gas Meters, Others), By Application (Industrial, Commercial, Residential), By Technology, By Region, Forecast & Opportunities, FY2027” report has been added to ResearchAndMarkets.com’s offering.
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 the 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 manufacturers. 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 center 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.
Objective of the Study:
Key Target Audience:
Major players operating in the India smart meter market include
Report Scope:
Years considered for this report:
India Smart Meter Market, By Product Type
India Smart Meter Market, By Application:
India Smart Meter Market, By Technology:
India Smart Meter Market, By Region
For more information about this report visit https://www.researchandmarkets.com/r/quytmo
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