The Asia Pacific region is also registering unprecedented growth in the installation of smart meters. This includes the estimation of the total installed base of smart meters to rise from 857.6 million in 2024 to 1.3 billion in 2030. This unprecedented rise indicates a compound annual growth rate of 6.8% during the forecasted period, making the Asia Pacific region the largest smart metering market globally. Reaching the milestone of 1 billion installations will happen in 2027.
The regional market trends indicate distinct patterns of growth
East Asia leads the way in the total adoption of smart meters, and more than 90% of the total installed base can be found in China, Japan, South Korea, and Taiwan. While the rollout in China and Japan has been completed, both countries are currently replacing the first generation of smart meters. KEPCO, the national utility company in South Korea, plans to complete the rollout of smart meters by the end of 2025. Taiwan has the least advanced smart meter penetration in East Asia.
As the renewal life cycle of the aging first-generation smart meters commences, this will boost the majority of the shipment volume during the period 2025-2030. This will specifically happen in the Chinese market since the lifetime of the meters is shorter. The maturity of the East Asian market enables the region to set the pace in the adoption of the latest smart grid solutions and the second generation of meters.
South Asia: The Fastest Growing Market for Smart Metering
South Asia, comprising both Indian and Bangladeshi markets, will create the fastest-growing market environment for intelligent electricity meters. The Indian government has a financial plan to develop 250 million intelligent pre-pay meters by 2026; however, this plan won’t be met. Various technologies used across the Asia-Pacific markets depend upon the regulatory environment and the stage of development in a given country.
Concealed advancement velocity: 100,000 units per day
The rate at which smart meters are being installed in the Indian market has significantly picked up to 100,000 units per day since the allocation of funds and the development of the ability to meet service-level requirements among experienced vendors. This represents the collective progress made through effective management of the project as well as the vendor’s know-how.
The disbursement of funds has really started to flow, and the vendors have the ability to deliver the required volume of business while maintaining the required service performance. Bangladesh has also been following the same trend, as the country has started seeing the implementation of massive installations of smart electricity meters as a result of the government-backed smart prepayment systems.
Technology adoption patterns influence infrastructure upgradation
The penetration rate of smart electricity meters in the Asia-Pacific region will increase from 61% in 2024 to 82% by 2030. A total of 924.7 million smart electricity meters will be shipped between 2025 and 2030. Singapore and Malaysia are two countries in the ASEAN region that have already started the mass implementation of smart electricity meters. Singapore has nearly completed the implementation in the country.
“The differences in the adoption of technologies in the Asia Pacific regions reflect the differences in the regulatory structures and the levels of development among the countries. For instance, the markets in East Asia are concerned with the replacement of meters as well as enhanced functionality. South and Southeast Asia are concerned with the initial implementation and the development of basic smart grid infrastructure,” explains the report.
The Asia-Pacific smart metering market serves as the most exciting transition in the world’s energy infrastructure. The upcoming installations of 1.3 billion smart meters in the Asia-Pacific region by 2030 will set a new milestone in the development of the world’s smart grid. The development of the smart grid in the Asia-Pacific region serves as the collective aim of the concerned authorities and companies in the region.