• About
  • Subscribe
  • Contact
Thursday, May 8, 2025
    Login
FutureIOT
  • Technology
    • Sensors and Instrumentation
    • Devices
    • Cloud and Platforms
    • Research and Development
    • Governance, Standards and Regulations
    • Application and Middleware
    • Security
    • Big Data and Analytics
    • AI and Machine Learning
  • Industry
    • Manufacturing
    • Transportation and Logistics
    • Retail and E-commerce
    • Banking and Financial Services
    • Government, Healthcare and Education
    • Industrial
  • Application
    • Smart Cities
    • Future Workplace
    • Commercial
    • Smart Home
    • Customer Engagement
  • Resources
  • Podchats
  • Videos
  • Events
No Result
View All Result
  • Technology
    • Sensors and Instrumentation
    • Devices
    • Cloud and Platforms
    • Research and Development
    • Governance, Standards and Regulations
    • Application and Middleware
    • Security
    • Big Data and Analytics
    • AI and Machine Learning
  • Industry
    • Manufacturing
    • Transportation and Logistics
    • Retail and E-commerce
    • Banking and Financial Services
    • Government, Healthcare and Education
    • Industrial
  • Application
    • Smart Cities
    • Future Workplace
    • Commercial
    • Smart Home
    • Customer Engagement
  • Resources
  • Podchats
  • Videos
  • Events
No Result
View All Result
FutureIOT
No Result
View All Result
Home Application IT-OT integration

The smart metering growth story in Asia-Pacific continues

FutureIoT Editors by FutureIoT Editors
June 21, 2024
Photo by Robert So: https://www.pexels.com/photo/photo-of-a-smart-meters-of-electricity-12274476/

Photo by Robert So: https://www.pexels.com/photo/photo-of-a-smart-meters-of-electricity-12274476/

The smart electricity metering market in Asia-Pacific is inching ever closer to the historic milestone of 1 billion installed smart meter devices.

Berg Insight analyses suggest the development of smart metering technology in China, Japan, South Korea, Taiwan, India, Bangladesh, Indonesia, the Philippines, Thailand, Vietnam, Australia and New Zealand.

Berg Insight forecasts that the installed base of smart electricity meters in Asia-Pacific will grow at a compound annual growth rate (CAGR) of 6.4% from 818.6 million units in 2023 to nearly 1.2 billion units in 2029.

At this pace, the milestone of 1 billion installed devices will be reached in mid-2026. The penetration rate of smart electricity meters in Asia-Pacific will at the same time grow from 61 percent in 2023 to 80 percent in 2029 while cumulative shipments during 2024–2029 will amount to a total of 872.7 million units.

What’s happening in the country

East Asia, including China, Japan, South Korea and Taiwan, has led the adoption of smart metering technology in Asia-Pacific with ambitious nationwide rollouts and today constitutes the most mature smart metering market in the region, accounting for more than 90% of the installed base in Asia-Pacific at the end of 2023.

The rollout of smart electricity meters in China is now complete while Japan is in the end phase of its rollout. The nationwide rollout in South Korea has suffered several delays and the national utility KEPCO now aims to complete the rollout by the end of 2024.

Taiwan is the least mature market in East Asia and boasts an installed base of just 2.8 million smart meters. In China and Japan, replacements of first-generation smart meters have already begun, particularly in China where the meter lifecycle is relatively short.

“Replacements of ageing first-generation smart meters will be the most important driver for smart meter shipments in Asia-Pacific throughout the forecast period. The number of smart meters tendered by the State Grid of China is also expected to become more stable going forward at around 65–70 million units per year,” said Mattias Carlsson, IoT Analyst at Berg Insight.

While East Asia constitutes the most mature smart metering market in Asia-Pacific, the fastest growing markets are on the other hand all found in South and Southeast Asia with a wave of smart metering projects now sweeping across the region.

The most significant growth is expected in India where a massive new governmental funding scheme was introduced in the early 2020s to achieve the installation of 250 million smart prepayment meters.

“India is already reaping the benefits from the modernisation of its electricity grid and has in the last two years managed to reduce overall aggregate and technical losses significantly”, continued Carlsson.

In neighbouring Bangladesh, large-scale smart electricity metering installations are also emerging in a similar push to install smart prepayment metering by the government. “We also observe positive developments in markets such as Thailand, the Philippines, Indonesia and Taiwan – particularly the latter two. The Taiwanese smart metering market is showing stable growth, with a state-owned utility that has a track record of meeting set targets,” concluded Carlsson.

“Indonesia still constitutes a nascent smart metering market, but is also a huge market opportunity with a growing economy and impressive electricity user base of almost 86 million, he continued.

Related:  AI to power IoT-enabled smarter elevators
Tags: Berg InsightIoTsmart metering
FutureIoT Editors

FutureIoT Editors

No Result
View All Result

Recent Posts

  • AI to fuel the rise of zero touch networks
  • Surge in ambient IoT to pave the way for sustainable tech
  • Imbibing AI skills into Singapore’s future workforce today
  • Asia Pacific's AI ambitions hinge on next-generation networks
  • Gartner urges supply chain leaders to adopt cost-to-serve model

Categories

  • Agriculture
  • AI and Machine Learning
  • Application
  • Application and Middleware
  • Automotive
  • Banking and Financial Services
  • Big Data and Analytics
  • Blockchain
  • Case Studies
  • Change Healthcare
  • CHRO
  • Cloud and Platforms
  • Commercial
  • Construction
  • Consumer
  • Customer Engagement
  • Devices
  • ESG
  • Future Workplace
  • FutureCOO
  • Governance, Standards and Regulations
  • Government, Healthcare and Education
  • Hospitality and Tourism
  • Industrial
  • Industry
  • IT-OT integration
  • Manufacturing
  • Networking
  • Operations
  • Research and Development
  • Retail and E-commerce
  • Security
  • Sensors and Instrumentation
  • Smart Cities
  • smart contracts
  • Smart Home
  • Start-ups
  • Supply chain
  • Technology
  • Telecommunications
  • TIBCO
  • Transportation and Logistics
  • Videos
  • Whitepapers

About FutureIoT

Asia’s ONLY dedicated IoT publication

The race to harness the power of Internet of Things (IoT) is here. FutureIoT is dedicated to individuals, as well as public and private organizations looking to tap the potential of IoT to transform the way we live, work and do business. FutureIoT is the dedicated media that provides the single source of truth about IoT, the technology, its application and regulation, originating from Asia. << Read more >>

Quick Links

  • Subscribe
  • Contact
  • Privacy Policy
  • Cookie Policy
  • Terms of Use

Categories

Recent News

Photo by Polina Tankilevitch: https://www.pexels.com/photo/hand-of-a-woman-showing-palm-with-a-word-no-4830656/

AI to fuel the rise of zero touch networks

May 8, 2025
Photo by John Tekeridis: https://www.pexels.com/photo/round-grey-speaker-on-brown-board-1072851/

Surge in ambient IoT to pave the way for sustainable tech

May 7, 2025
  • Privacy Policy
  • Terms of Use
  • Cookie Policy

Copyright © 2022 Cxociety Pte Ltd | Designed by Pixl

Login to your account below

or

Not a member yet? Register here

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Technology
    • Sensors and Instrumentation
    • Devices
    • Cloud and Platforms
    • Research and Development
    • Governance, Standards and Regulations
    • Application and Middleware
    • Security
    • Big Data and Analytics
    • AI and Machine Learning
  • Industry
    • Manufacturing
    • Transportation and Logistics
    • Retail and E-commerce
    • Banking and Financial Services
    • Government, Healthcare and Education
    • Industrial
  • Application
    • Smart Cities
    • Future Workplace
    • Commercial
    • Smart Home
    • Customer Engagement
  • Resources
  • Podchats
  • Videos
  • Events
Login

Copyright © 2022 Cxociety Pte Ltd | Designed by Pixl

Subscribe