India, June 29 -- India's smart meter market is growing quickly, with huge potential for investment and innovation. In 2024, the market was worth about USD 288.30 million and is expected to grow to over USD 1,014.20 million by 2033. This shows a strong compound annual growth rate (CAGR) of 15% from 2025 to 2033.

The Indian government is playing a big role in this growth, with Rs. 97,631 crore (around USD 11.35 billion) allocated under the Revamped Distribution Sector Scheme (RDSS) for smart metering. Overall, the total opportunity for smart meters in India is estimated to be around USD 20 billion, targeting 250 million meter installations.

Smart meters are electronic devices used to measure electricity, gas, or water usage in real tim...