Increased investment interest in digitalizing electrical systems, as well as efforts to expand grid infrastructures, are expected to drive growth in the Smart Meter Market. Increased electricity demand from the commercial and residential sectors opens up new market opportunities. For example, after signing multi-billion dollar deals for Jio Platforms and Reliance Retails, Reliance Industries has been focusing on the smart electricity metre market.
However, the high cost of smart metre installation borne by end users limits market growth. Several grid operators, as well as other gas and water utility providers, are effectively managing demand for smart metres. However, various market benefits such as automatic metre reading and bill generation are expected to contribute to the growth.
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