The Asia-Pacific smart electricity metering market is on track to surpass the 1 billion installed device mark. From 757 million units in 2021 to 1 billion units in 2027, the installed base of smart electricity metres in Asia-Pacific will grow at a compound annual growth rate (CAGR) of 6.2%. At this rate, the 1 billion installed device milestone will be reached in 2026.
East Asian countries have led the adoption of smart metering technology in Asia-Pacific with nationwide rollouts, and today constitute the region’s most mature smart metering market, accounting for more than 95 percent of the installed base by the end of 2021. East Asia has the most mature smart metering market in Asia-Pacific, while South and Southeast Asia have the fastest growing markets, with a wave of smart metering projects now sweeping across the region.
Earlier, the electricity department could not accurately track their customers’ energy consumption. They had to rely on old technology, in which the readings had to be manually recorded by the electricity worker. Those tasked with taking manual readings were easily bribed by defaulters to manipulate the meter readings. As a result, they altered the actual readings of the mechanical electricity meters, causing the electricity department to incur massive financial losses.
The new age Smart electricity meters monitor consumption, voltage levels, current, and power factor. This information is available through a display unit built into the smart meter. The main advantage of smart electricity meters is that they eliminate the need for manual readings. A smart meter automatically transmits all of that data to the electricity supplier, providing them with accurate readings and eliminating the possibility of estimated bills.
The most significant growth is expected in India, where the government has recently launched the Revamped Distribution Sector Scheme (RDSS) to assist DISCOMs in improving their operational efficiencies and financial sustainability. Under RDSS scheme the Government plans to replace all the existing meters with prepaid smart meters.
Smart Meter National Program (SMNP) is another initiative by the Government of India (GOI) to replace 25 crore conventional metres in India with smart metres by 2026. DISCOMS must take all necessary steps to provide smart metres to all of their customers. EESL has already replaced over 5 lakh conventional metres with smart metres under the SMNP in Delhi and in states such as Uttar Pradesh, Haryana, Bihar, and Andhra Pradesh.
Large-scale smart electricity metering installations are now emerging in other countries such as Bangladesh, Indonesia, and the Philippines, following a similar push by their respective governments to install smart prepayment metering.
