PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1534406
PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1534406
India Smart Grid Network Market, By Technology (Transmission, Advanced Metering Infrastructure, Communication Technology); By Services; By End User; By Region, Trend Analysis, Competitive Landscape & Forecast, 2019-2030
India Smart Grid Network Market Size Quadruples at Electrifying CAGR of 13.24% to Surpass Value of 2.4 Billion by 2030
India Smart Grid Network Market is flourishing due increasing investments in renewable energy, the government's supportive initiatives, a spurring demand for energy efficiency, and rapid adoption of advancements in communication technologies.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India Smart Grid Network Market size by value at USD 578.32 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the India Smart Grid Network Market size to boom at a robust CAGR of 13.24% reaching a value of USD 2,431.56 million by 2030. The Smart Grid Network Market in India is propelled by the increasing investments 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 period in analysis.
Opportunities - Increasing focus on advanced metering infrastructure (AMI)
The advanced metering infrastructure (AMI) is crucial in enhancing the growth of the India Smart Grid Network Market. AMI enables two-way communication between utilities and consumers, significantly improving the operational efficiency of electricity distribution companies (DISCOMs). With AMI, DISCOMs can remotely access real-time meter data, allowing for better load management and reducing transmission losses. This infrastructure also empowers consumers to monitor and manage their energy usage, promoting energy efficiency and potentially lowering costs. Government initiatives like the Smart Meter National Program are driving the adoption of AMI across India. By providing dynamic pricing signals, AMI supports the integration of renewable energy and the development of smart grids, making it a key element in India's transition to a sustainable energy future.
Impact of Escalating Geopolitical Tensions on India Smart Grid Network Market
Intensifying geopolitical tensions across the world 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
On the basis of 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 - By Region
Geographically, the India Smart Grid Network Market is divided into North India, South India, East India, and West India regions. 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
The India Smart Grid Network Market is fragmented, with numerous players serving the market. The key players dominating the 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. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.
The report's in-depth analysis provides information about growth potential, upcoming trends, and the India Smart Grid Network Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the India Smart Grid Network Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
2. Executive Summary
3. India Smart Grid Network Market Insights
- 3.1. DROC Analysis
- 3.1.1. Growth Drivers
- 3.1.1.1. Increased investment in renewable energy
- 3.1.1.2. Government support and initiatives
- 3.1.1.3. Growing demand for energy efficiency
- 3.1.1.4. Advancements in communication technologies
- 3.1.2. Restraints
- 3.1.2.1. High investment costs
- 3.1.2.2. Weak private sector investments
- 3.1.2.3. Inadequate grid infrastructure
- 3.1.3. Opportunities
- 3.1.3.1. Integration of decentralized renewable power generation
- 3.1.3.2. Advanced Metering Infrastructure (AMI)
- 3.1.3.3. Smart Meter National Program
- 3.1.3.4. Cybersecurity and data analytics
- 3.1.4. Challenges
- 3.1.4.1. Power theft and inefficient metering
- 3.1.4.2. Cybersecurity concerns
- 3.1.1. Growth Drivers
- 3.2. Technological Advancements/Recent Developments
- 3.3. Industry Value Chain Analysis
- 3.4. Regulatory Framework
- 3.5. 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
- 6.1. Market Size & Forecast, 2019-2030
- 6.1.1. By Value (USD Million)
- 6.2. Market Share & Forecast
- 6.2.1. By Technology
- 6.2.1.1. Transmission
- 6.2.1.2. Advanced Metering Infrastructure (AMI)
- 6.2.1.3. Communication Technology
- 6.2.1.4. Others
- 6.2.2. By Services
- 6.2.2.1. Consulting
- 6.2.2.2. Deployment & Integration
- 6.2.2.3. Maintenance & Support
- 6.2.2.4. Managed Services
- 6.2.3. By End User
- 6.2.3.1. Residential
- 6.2.3.2. Commercial
- 6.2.3.3. Government Sector
- 6.2.3.4. Others
- 6.2.4. By Region
- 6.2.4.1. North India
- 6.2.4.2. South India
- 6.2.4.3. East India
- 6.2.4.4. West India
- 6.2.1. By Technology
7. North India Smart Grid Network Market
- 7.1. Market Size & Forecast, 2019-2030
- 7.1.1. By Value (USD Million)
- 7.2. Market Share & Forecast
- 7.2.1. By Technology
- 7.2.2. By Services
- 7.2.3. By End User
8. South India Smart Grid Network Market
- 8.1. Market Size & Forecast, 2019-2030
- 8.1.1. By Value (USD Million)
- 8.2. Market Share & Forecast
- 8.2.1. By Technology
- 8.2.2. By Services
- 8.2.3. By End User
9. East India Smart Grid Network Market
- 9.1. Market Size & Forecast, 2019-2030
- 9.1.1. By Value (USD Million)
- 9.2. Market Share & Forecast
- 9.2.1. By Technology
- 9.2.2. By Services
- 9.2.3. By End User
10. West India Smart Grid Network Market
- 10.1. Market Size & Forecast, 2019-2030
- 10.1.1. By Value (USD Million)
- 10.2. Market Share & Forecast
- 10.2.1. By Technology
- 10.2.2. By Services
- 10.2.3. By End User
11. Competitive Landscape
- 11.1. List of Key Players and Their Offerings
- 11.2. India Smart Grid Network Market Company Market Share Analysis, 2023
- 11.3. Competitive Benchmarking, By Operating Parameters
- 11.4. 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)
- 13.1. ABB Ltd
- 13.2. Accenture PLC
- 13.3. Capgemini SE
- 13.4. Cisco Systems Inc.
- 13.5. General Electric Company
- 13.6. HCL Technologies Ltd
- 13.7. Honeywell International Inc.
- 13.8. Power Grid Corporation of India Limited
- 13.9. Schneider Electric SE
- 13.10. Siemens AG
- 13.11. Other Prominent Players
14. Key Strategic Recommendations
15. Research Methodology
- 15.1. Qualitative Research
- 15.1.1. Primary & Secondary Research
- 15.2. Quantitative Research
- 15.3. Market Breakdown & Data Triangulation
- 15.3.1. Secondary Research
- 15.3.2. Primary Research
- 15.4. Breakdown of Primary Research Respondents, By Region
- 15.5. 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
