Saudi Arabia Smart Meters Market is expected to grow at a 6.98% CAGR

Saudi Arabia Smart Meters Market is expected to grow owing to reducing energy losses in the distribution network throughout the forecast period.

 

According to TechSci Research report, “Saudi Arabia Smart Meters Market – By Region, Competition, Forecast and Opportunities, 2019-2029”, the Saudi Arabia Smart Meters Market is expected to register robust growth during the forecast period. The Saudi Arabian government has been actively promoting the adoption of smart meters as part of its Vision 2030 plan to modernize the country's infrastructure. Various initiatives, such as the Saudi National Transformation Program (NTP) and the Saudi Smart Grid Program, have been launched to drive the deployment of smart meters.

Utility companies in Saudi Arabia are actively investing in smart meter technology to modernize their operations. This includes reducing manual meter reading, streamlining billing processes, and improving grid management. Companies that can provide solutions to help utilities in this modernization process have significant opportunities.  Saudi Arabia has ambitious plans for deploying smart meters throughout the country. This offers significant opportunities for technology providers, manufacturers, and system integrators to participate in the mass rollout of smart metering infrastructure.

 

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Based on technology, the Automatic Meter Reading (AMR) segment is expected to dominate the market during the forecast period. The smart metering market is evolving with advancements in technology. AMR systems are becoming more sophisticated, offering features such as two-way communication between meters and utilities, enabling demand response programs, and integration with the smart grid. Several local and international companies are active in the Saudi Arabian smart meters market, providing a range of AMR solutions and services. These include companies specializing in meter manufacturing, communication infrastructure, and data analytics. The regulatory framework in Saudi Arabia has been evolving to support the deployment of smart meters. Regulations and standards are in place to ensure the reliability and security of AMR systems. The Saudi Arabia Smart Meters Market, including AMR, is expected to continue growing as the country focuses on modernizing its energy infrastructure and improving energy efficiency. The market will likely see more advanced AMR systems and an increasing emphasis on data analytics and smart grid integration.

Based on type, the Energy segment is projected to dominate the market throughout the forecast period. The Saudi government has been making efforts to diversify its energy mix and invest in renewable energy sources. Smart meters can facilitate the integration of renewable energy sources into the grid by providing accurate data on generation and consumption. The smart meters market is evolving with technological advancements. In addition to basic metering functions, smart meters are increasingly capable of providing real-time data on voltage, power quality, and other grid parameters. International and local companies specializing in smart meter manufacturing, communication infrastructure, and energy analytics are active in the Saudi Arabian smart meters market. These companies provide a range of solutions to meet the evolving needs of the market. The energy segment of the Saudi Arabia Smart Meters Market is expected to continue to grow as the country moves towards a more sustainable and efficient energy future. Smart meters will play a pivotal role in enabling better energy management, grid optimization, and the integration of renewable energy sources.

 

Key market players in the Saudi Arabia Smart Meters Market are:-

• Nesma Electric
• Abunayyan Trading Corporation (ATC)
• Elster Group
• Landis+Gyr
• Iskraemeco
• Schneider Electric
• Honeywell
• Kamstrup
• Siemens
• Itron  

 

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“The Saudi Arabia Smart Meters Market in Riyadh is poised to be the dominant force in the industry. The smart meter market in Riyadh is evolving with technological advancements. More advanced meters that offer two-way communication between meters and utilities, demand response capabilities, and integration with the smart grid are becoming available. Riyadh's Smart Meters Market is expected to continue growing as the city, and the nation as a whole, strives to modernize its energy infrastructure and enhance energy efficiency. The adoption of smart meters will likely be driven by a growing emphasis on data analytics, real-time monitoring, and integration with the smart grid.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Saudi Arabia Smart Meters Market Segmented By Technology (Automatic Meter Reading (AMR) and Advanced Metering Infrastructure (AMI)), By Type (Energy, Water and Gas), By Application (Industrial, Commercial and Residential), By Region, and By Competition, 2019-2029,” has evaluated the future growth potential of Saudi Arabia Smart Meters Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Saudi Arabia Smart Meters Market.

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