Saudi Arabia Electric Smart Meters Market Forecast and Opportunities, 2019
Published on: 2024-12-08 | No of Pages : 320 | Industry : Power
Publisher : MIR | Format : PDF&Excel
Saudi Arabia Electric Smart Meters Market Forecast and Opportunities, 2019
Smart meter forms an integral part of smart grids, and help in monitoring the electricity supply even from distance by using wireless technologies. By using smart meters, power thefts and power losses can easily be monitored and controlled. Smart meters reduce meter reading costs and errors, provide detailed insights of energy usage, support flexible tariffs and promotes intelligent load management. Smart meters offers two way communication, wherein, users have an option to transfer back the power to smart grids, in case of energy produced at their end, for instance, through solar power panels, etc., Additionally, smart meters enable suppliers to identify real-time energy consumption pattern for all the users, enabling suppliers in getting a clear picture of demand and supply. Consequently, power producing companies have opportunity to plan accordingly for upcoming power projects, considering the increasing power demand rate.
According to “Saudi Arabia Electric Smart Meters Market Forecast & Opportunities, 2019”, the market is projected to grow at a CAGR of around 10.12% during 2014-19 in revenue terms. Smart grid installation in the country was initiated by Saudi Electric Company in 2010, by installing around 50,000 meters in a pilot project. The country plans to replace traditional meters with smart meters across all segments. In 2012, the country had more than 6.5 million subscribers, which are expected to increase over the next five years, where majority of subscribers were from the residential sector, which accounted for approximately 5 million users. In addition, the Saudi Arabian government plans to install smart meters across the country in four major phases. In first phase, industrial and construction segment was targeted until 2013, followed by commercial and government sectors until 2015, and residential sector is to be covered in two subsequent phases by 2021. “Saudi Arabia Electric Smart Meters Market Forecast & Opportunities, 2019” discusses the following aspects of electric smart meters market in Saudi Arabia
The information contained in this report is based upon both primary and secondary sources. Primary research included interviews with smart meters manufacturers and distributors in Saudi Arabia. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports, government policy documents and proprietary database.
According to “Saudi Arabia Electric Smart Meters Market Forecast & Opportunities, 2019”, the market is projected to grow at a CAGR of around 10.12% during 2014-19 in revenue terms. Smart grid installation in the country was initiated by Saudi Electric Company in 2010, by installing around 50,000 meters in a pilot project. The country plans to replace traditional meters with smart meters across all segments. In 2012, the country had more than 6.5 million subscribers, which are expected to increase over the next five years, where majority of subscribers were from the residential sector, which accounted for approximately 5 million users. In addition, the Saudi Arabian government plans to install smart meters across the country in four major phases. In first phase, industrial and construction segment was targeted until 2013, followed by commercial and government sectors until 2015, and residential sector is to be covered in two subsequent phases by 2021. “Saudi Arabia Electric Smart Meters Market Forecast & Opportunities, 2019” discusses the following aspects of electric smart meters market in Saudi Arabia
- Saudi Arabia Electric Smart Meters Market Size, Share & Forecast.
- Policy & Regulatory Landscape
- Changing Market Trends & Emerging Opportunities
- Competitive Landscape & Strategic Recommendations
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- To identify the on-going trends and anticipated growth in the coming years
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The information contained in this report is based upon both primary and secondary sources. Primary research included interviews with smart meters manufacturers and distributors in Saudi Arabia. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports, government policy documents and proprietary database.