Blueweave
India Smart Grid Network Market

India Smart Grid Network Market

India Smart Grid Network Market, By Technology (Transmission, Advanced Metering Infrastructure (AMI), Communication Technology); By Services (Consulting, Deployment & Integration, Maintenance & Support, Managed Services); By End User (Residential, Commercial, Government Sector); By Region (North India, South India, East India, West India), Trend Analysis, Competitive Landscape & Forecast, 2019–2030

  • Published Date: June 2024
  • Report ID: BWC24480
  • Available Format: PDF
  • Page: 200

Report Overview

A spurring demand for energy efficiency, rapid adoption of advancements in communication technologies, increasing investments in renewable energy, and government’s support and initiatives are expected to drive the India Smart Grid Network Market during the forecast period between 2024 and 2030.

India Smart Grid Network Market – Industry Trends & Forecast Report, 2030

India Smart Grid Network Market size was estimated at USD 578.32 million in 2023. During the forecast period between 2024 and 2030, the India Smart Grid Network Market size is projected to grow at a CAGR of 13.24% reaching a value of USD 2,431.56 million by 2030. A prominent driver of the market is the increasing investment in and deployment of smart grid technologies such as smart meters and electric vehicle (EV) chargers. Also, the integration of renewable energy sources into India’s transmission and distribution grids is accelerating the adoption of smart grid infrastructure. These technologies are not only pivotal for enhancing the efficiency and reliability of the grid but are also crucial for supporting India's long-term economic sustainability and carbon reduction objectives. Consequently, the strategic focus on smart grid technology is set to create substantial opportunities for companies operating in this market during the forecast period.

India Smart Grid Network Market

Smart Grid Network – Overview

Smart grids integrate traditional power networks with advanced data communication technologies, delivering electricity from diverse sources like wind turbines and solar panels. These systems use digital technology to enable two-way data flow, allowing for real-time monitoring, analysis, and control of the electricity supply chain. This integration boosts efficiency, reduces energy consumption and costs, and enhances the reliability and transparency of the energy system. By deploying smart meters and other technologies, smart grids overcome the limitations of conventional electrical grids, ensuring a more adaptable and sustainable energy infrastructure.

India Smart Grid Network Market

Growth Drivers

Government’s Supportive Initiatives

The Government of India proactive support and strategic initiatives are crucial in accelerating the growth of the India Smart Grid Network Market. Both central and state governments are actively promoting the modernization of the electricity sector through policies that enhance the integration of advanced smart grid technologies. Initiatives like the “Power for All” program and aggressive renewable energy targets, such as achieving 100 GW of solar and 60 GW of wind by 2022, directly support the expansion of smart grids. Additionally, incentives for solar power and policies for offshore wind energy are fostering innovation. Through agencies like the Ministry of Power and the Central Electricity Authority, the government is ensuring the coordinated deployment of smart grid solutions, driving market growth significantly.

Increased Investments in Renewable Energy

India's aggressive investment in renewable energy is significantly propelling the growth of the smart grid network market. As the third-largest energy consumer, India aims to achieve 500 GW of non-fossil fuel capacity by 2030, driving massive advancements in solar, wind, and green hydrogen sectors. Over the past 8.5 years, solar capacity alone has increased thirtyfold to 82.63 GW, necessitating the modernization of the electrical grid. Initiatives like the National Green Hydrogen Mission and the Production Linked Incentive (PLI) Scheme are vital. These investments in renewable energy infrastructure are crucial for integrating diverse energy sources into the grid, enhancing efficiency, reliability, and supporting the rapid development of smart grid technologies in India.

Challenges

High Investment Costs

Despite the promising potential of smart grid technologies, high investment costs are a significant barrier to their widespread adoption in India. The substantial financial outlay required for upgrading infrastructure and deploying advanced technologies like smart meters and intelligent communication systems can be prohibitive. This financial challenge limits the pace at which smart grids are integrated into the national grid, thereby restraining market growth despite the clear long-term benefits.

Impact of Escalating Geopolitical Tensions on India Smart Grid Network Market

Geopolitical tensions can have a multifaceted impact on the India Smart Grid Network Market by introducing uncertainties in supply chains, affecting technology imports, and disrupting international collaborations crucial for advanced grid infrastructure. Such tensions may lead to increased costs, delays in project timelines, and hindered investments from global stakeholders. Moreover, geopolitical instability can undermine investor confidence and regulatory predictability, crucial for sustained market growth. To mitigate these impacts, robust domestic manufacturing capabilities and diversified supply chains are essential, along with proactive diplomatic efforts to ensure stable international relationships conducive to technology transfer and investment in smart grid technologies.

India Smart Grid Network Market

Segmental Coverage

India Smart Grid Network Market – By Technology

By technology, the India Smart Grid Network Market is divided into Transmission, Advanced Metering Infrastructure (AMI), and Communication Technology segments. The AMI segment holds the highest share in the India Smart Grid Network Market by technology. The AMI, also known as smart metering, integrates smart meters, communication networks, and data management systems to facilitate bi-directional communication between utilities and customers. This advancement from automated meter reading (AMR) enhances operational efficiency for electricity distribution companies (DISCOMs) and benefits consumers and society at large. The Government of India is actively promoting AMI to curb electricity wastage and reduce metering costs. The "Smart Meter National Program" exemplifies this effort, aiming to deploy smart meters across all electrified households in India. For instance, in February 2022, Madhya Pradesh secured USD 157.5 million from Germany's KfW Bank to upgrade its electricity infrastructure with smart meters and grid technologies. These initiatives underscore India's commitment to modernizing its grid and minimizing transmission and distribution losses, thereby driving growth in the AMI market.

India Smart Grid Network Market Size

India Smart Grid Network Market – By Services

Based on services, the India Smart Grid Network Market is divided into Consulting, Deployment & Integration, Maintenance & Support, and Managed Services segments.

India Smart Grid Network Market – By End User

Based on end user, the India Smart Grid Network Market is divided into Residential, Commercial, and Government Sector segments. The residential segment holds the highest share in the India Smart Grid Network Market by end user. Smart grids enhance energy efficiency and reliability through advanced technologies like automated controls and modern communication systems. In residential areas, these grids manage variable energy demands, integrate renewable sources, and provide real-time energy usage data, supporting the development of smart, zero-energy buildings. With residential customers forming the largest and most diverse energy consumer base, the sector significantly benefits from smart grid innovations, optimizing energy consumption and cost. This makes the residential segment the primary driver of smart grid adoption and growth in India’s market.

India Smart Grid Network Market Demand

India Smart Grid Network Market – By Region

On the basis of region, the India Smart Grid Network Market is divided into North India, South India, East India, and West India. The South India region holds the highest share in the India Smart Grid Network Market and is expected to maintain its dominance during the forecast period. The region's advanced infrastructure, strong government support, and proactive adoption of renewable energy are key drivers. South Indian states, Tamil Nadu, Karnataka, Kerala, Andhra Pradesh, Telangana, and the Union Territory of Puducherry, have been leaders in implementing smart grid technologies. For instance, Puducherry’s pioneering smart grid project, the first in India, exemplifies this leadership. Initiated by the Power Ministry, it involves the INR 77-crore investment, with INR 52 crore funded by the Power Grid Corporation of India Limited (PGCIL). This project features advanced metering infrastructure and a Central Data Control unit, allowing consumers to manage energy usage and enabling the Electricity Department to monitor patterns and reduce transmission losses significantly. These initiatives underscore South India’s sustained dominance in the India Smart Grid Market.

Competitive Landscape

Major players operating in India Smart Grid Network Market include ABB Ltd, Accenture PLC, Capgemini SE, Cisco Systems Inc., General Electric Company, HCL Technologies Ltd, Honeywell International Inc., Power Grid Corporation of India Limited, Schneider Electric SE, and Siemens AG. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

  • In February 2023 - The Brihanmumbai Electric Supply and Transport (BEST) announced its plans to begin installing smart meters for its 1.05 million power consumers starting in March 2023. These new meters will incorporate 4G and 5G SIM cards, facilitating advanced connectivity and offering pre-paid payment options for users, enhancing convenience and efficiency in managing electricity consumption. This initiative marks a significant step towards modernizing Mumbai's power infrastructure and improving consumer service.

Scope of the Report

Attributes

Details

Years Considered

Historical Data – 2019–2030

Base Year – 2023

Estimated Year – 2024

Forecast Period – 2024–2030

Facts Covered

Revenue in USD Million 

Market Coverage

India

Product/ Service Segmentation

Technology, Services, End-User, Region

Key Players

ABB Ltd, Accenture PLC, Capgemini SE, Cisco Systems Inc., General Electric Company, HCL Technologies Ltd, Honeywell International Inc., Power Grid Corporation of India Limited, Schneider Electric SE, Siemens AG

 

By Technology

  • Transmission

  • Advanced Metering Infrastructure (AMI)

  • Communication Technology

By Services

  • Consulting

  • Deployment & Integration

  • Maintenance & Support

  • Managed Services

By End User

  • Residential

  • Commercial

  • Government Sector

By Region

  • North India

  • South India

  • East India

  • West India

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3. India Smart Grid Network Market Insights
    1. DROC Analysis
      1. Growth Drivers
        1. Increased investment in renewable energy
        2. Government support and initiatives
        3. Growing demand for energy efficiency
        4. Advancements in communication technologies
      2. Restraints
        1. High investment costs
        2. Weak private sector investments
        3. Inadequate grid infrastructure
      3. Opportunities
        1. Integration of decentralized renewable power generation
        2. Advanced Metering Infrastructure (AMI)
        3. Smart Meter National Program
        4. Cybersecurity and data analytics
      4. Challenges
        1. Power theft and inefficient metering
        2. Cybersecurity concerns
    2. Technological Advancements/Recent Developments
    3. Industry Value Chain Analysis
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
  4. India Smart Grid Network Market: Marketing Strategies
  5. India Smart Grid Network Market: Pricing Analysis
  6. India Smart Grid Network Market Overview
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Technology
        1. Transmission
        2. Advanced Metering Infrastructure (AMI)
        3. Communication Technology
        4. Others
      2. By Services
        1. Consulting
        2. Deployment & Integration
        3. Maintenance & Support
        4. Managed Services
      3. By End User
        1. Residential
        2. Commercial
        3. Government Sector
        4. Others
      4. By Region
        1. North India
        2. South India
        3. East India
        4. West India
  7. North India Smart Grid Network Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Technology
      2. By Services
      3. By End User
  8. South India Smart Grid Network Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Technology
      2. By Services
      3. By End User
  9. East India Smart Grid Network Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Technology
      2. By Services
      3. By End User
  10. West India Smart Grid Network Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Technology
      2. By Services
      3. By End User
  11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. India Smart Grid Network Market Company Market Share Analysis, 2023
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
  12. Impact of Escalating Geopolitical Tensions on India Smart Grid Network Market
  13. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)

 

    1. ABB Ltd
    2. Accenture PLC
    3. Capgemini SE
    4. Cisco Systems Inc.
    5. General Electric Company
    6. HCL Technologies Ltd
    7. Honeywell International Inc.
    8. Power Grid Corporation of India Limited
    9. Schneider Electric SE
    10. Siemens AG
    11. Other Prominent Players
  1. Key Strategic Recommendations
  2. Research Methodology
    1.       Qualitative Research
      1.   Primary & Secondary Research
    2.       Quantitative Research
    3.       Market Breakdown & Data Triangulation
      1.   Secondary Research
      2.   Primary Research
    4.       Breakdown of Primary Research Respondents, By Region
    5.       Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

 

 

List of Figures

 

Figure 1       India Smart Grid Network Segmentation

Figure 2       India Smart Grid Network Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2023

Figure 4       India Smart Grid Network Market Size, By Value (USD Million), 2019–2030

Figure 5       India Smart Grid Network Market Share, By Technology, By Value, 2019–2030

Figure 6       India Smart Grid Network Market Share, By Services, By Value, 2019–2030

Figure 7       India Smart Grid Network Market Share, By End User, By Value, 2019–2030

Figure 8       India Smart Grid Network Market Share, By Region, By Value, 2019–2030

Figure 9       North India Smart Grid Network Market Size, By Value (USD Million), 2019–2030

Figure 10     North India Smart Grid Network Market Share, By Technology, By Value, 2019–2030

Figure 11     North India Smart Grid Network Market Share, By Services, By Value, 2019–2030

Figure 12     North India Smart Grid Network Market Share, By End User, By Value, 2019–2030

Figure 13     South India Smart Grid Network Market Size, By Value (USD Million), 2019–2030

Figure 14     South India Smart Grid Network Market Share, By Technology, By Value, 2019–2030

Figure 15     South India Smart Grid Network Market Share, By Services, By Value, 2019–2030

Figure 16     South India Smart Grid Network Market Share, By End User, By Value, 2019–2030

Figure 17     East India Smart Grid Network Market Size, By Value (USD Million), 2019–2030

Figure 18     East India Smart Grid Network Market Share, By Technology, By Value, 2019–2030

Figure 19     East India Smart Grid Network Market Share, By Services, By Value, 2019–2030

Figure 20     East India Smart Grid Network Market Share, By End User, By Value, 2019–2030

Figure 21     West India Smart Grid Network Market Size, By Value (USD Million), 2019–2030

Figure 22     West India Smart Grid Network Market Share, By Technology, By Value, 2019–2030

Figure 23     West India Smart Grid Network Market Share, By Services, By Value, 2019–2030

Figure 24     West India Smart Grid Network Market Share, By End User, By Value, 2019–2030

 

List of Tables

 

Table 1        India Smart Grid Network Market Size, By Value (USD Million), 2019–2030

Table 2        India Smart Grid Network Market Size, By Technology, By Value, 2019–2030

Table 3        India Smart Grid Network Market Size, By Services, By Value, 2019–2030

Table 4        India Smart Grid Network Market Size, By End User, By Value, 2019–2030

Table 5        India Smart Grid Network Market Size, By Region, By Value, 2019–2030

Table 6        North India Smart Grid Network Market Size, By Value (USD Million), 2019–2030

Table 7        North India Smart Grid Network Market Size, By Technology, By Value, 2019–2030

Table 8        North India Smart Grid Network Market Size, By Services, By Value, 2019–2030

Table 9        North India Smart Grid Network Market Size, By End User, By Value, 2019–2030

Table 10      South India Smart Grid Network Market Size, By Value (USD Million), 2019–2030

Table 11      South India Smart Grid Network Market Size, By Technology, By Value, 2019–2030

Table 12      South India Smart Grid Network Market Size, By Services, By Value, 2019–2030

Table 13      South India Smart Grid Network Market Size, By End User, By Value, 2019–2030

Table 14      East India Smart Grid Network Market Size, By Value (USD Million), 2019–2030

Table 15      East India Smart Grid Network Market Size, By Technology, By Value, 2019–2030

Table 16      East India Smart Grid Network Market Size, By Services, By Value, 2019–2030

Table 17      East India Smart Grid Network Market Size, By End User, By Value, 2019–2030

Table 18      West India Smart Grid Network Market Size, By Value (USD Million), 2019–2030

Table 19      West India Smart Grid Network Market Size, By Technology, By Value, 2019–2030

Table 20      West India Smart Grid Network Market Size, By Services, By Value, 2019–2030

Table 21      West India Smart Grid Network Market Size, By End User, By Value, 2019–2030

Table 22      West India Smart Grid Network Market Share, By Technology, By Value, 2019–2030

Table 23      West India Smart Grid Network Market Share, By Services, By Value, 2019–2030

Table 24      West India Smart Grid Network Market Share, By End User, By Value, 2019–2030

Table 25      ABB Ltd Company Overview

Table 26      ABB Ltd Financial Overview

Table 27      Accenture PLC Company Overview

Table 28      Accenture PLC Financial Overview

Table 29      Capgemini SE Company Overview

Table 30      Capgemini SE Financial Overview

Table 31      Cisco Systems Inc. Company Overview

Table 32      Cisco Systems Inc. Financial Overview

Table 33      General Electric Company Overview

Table 34      General Electric Company Financial Overview

Table 35      HCL Technologies Ltd Company Overview

Table 36      HCL Technologies Ltd Financial Overview

Table 37      Honeywell International Inc. Company Overview

Table 38      Honeywell International Inc. Financial Overview

Table 39      Power Grid Corporation of India Limited Company Overview

Table 40      Power Grid Corporation of India Limited Financial Overview

Table 41      Schneider Electric SE Company Overview

Table 42      Schneider Electric SE Financial Overview

Table 43      Siemens AG Company Overview

Table 44      Siemens AG Financial Overview

Market Segmentation

No data available
No data available

To request a free sample copy of this report, please complete the form below.

We value your investment and offer free customization with every report to fulfil your exact research needs.

Note: Please share the corporate email address for faster response

This website is secure and your personal details are safe.

Frequently Asked Questions (FAQs):

Ans: India Smart Grid Network Market size by value was estimated at USD 578.32 million in 2023.
Ans: India Smart Grid Network Market by value is expected to grow at a CAGR of 13.24% during the forecast period between 2024 and 2030.
Ans: India Smart Grid Network Market size is forecast to reach a value of USD 2,431.56 million by 2030.
Ans: The growth of the India Smart Grid Network Market is primarily driven by the increasing investment in renewable energy, government support and initiatives, growing demand for energy efficiency, and advancements in communication technologies.
Ans: The advanced metering infrastructure (AMI) segment holds a major share in the India Smart Grid Network Market by technology.
Ans: The residential segment is expected to grow at the highest CAGR in the India Smart Grid Network Market during the forecast period between 2024 and 2030.
array(1) {
  ["__ci_last_regenerate"]=>
  int(1733822471)
}