India smart meter market is growing at a high CAGR because of the favorable government initiatives to boost the installation of smart meter in various regions of the country. Furthermore, the launch of 5G networks is also powering the market growth.
Report Ocean, revealed that the India smart meter market is estimated to grow at a CAGR of 6.4% during the forecast period (2022-2028). The India smart meter market is flourishing at a high rate because of various government initiatives to boost the installation of smart meter in various regions of the country. The Union Government has announced its plans to install 250 million smart meters by 2022 with the investment of around Rs. 3 lakh crore. Furthermore, the launch of 5G networks is expected to provide lucrative growth opportunities to the market as the country’s communication network strengthens.
CyanConnode Holdings plc (LON:CYAN) is a world leader in the design and development of Narrowband RF mesh networks that enable Omni Internet of Things (IoT) communications.