Market Size of Saudi Arabia Smart Grid Network Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 3.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Saudi Arabia Smart Grid Market Analysis
The market for smart grid network in Saudi Arabia is expected to grow at CAGR of more than 3% in the forecast period of 2020-2025. In a nation like Saudi Arabia growing renewable energy and the need to modify existing grid networks to meet the growing power demand, the market for the smart grid is expected to witness considerable growth. Also, to improve the collection of revenue for electricity and to address electricity theft in low-income areas, the demand for smart grid network is expected to grow. However, developing a smart grid with the pace with which Saudi Arabia is developing renewable sources and the initial large investment for the modification of the grid can be a restraining factor to the market in the coming years.
- Advanced Metering Structure is expected to drive the smart grid network significantly, providing monitoring of bi-directional flow of electricity, owing to increasing grid development.
- Saudi Arabia plans to deploy 40 GW of solar power capacity and 20 GW of wind and other sources by 2030, which will create vast opportunities for smart grid players in the upcoming period.
- South Saudi Arabia is aiming to develop and renovate its aging grid infrastructure. To meet the growing electricity demand, the South Saudi Arabian National Energy Development Institute (SANEDI) updated the South Saudi Arabian Smart Grid Initiative in 2017.
Saudi Arabia Smart Grid Industry Segmentation
Saudi Arabia smart grid market report include:
| Technology Application Area | |
| Transmission | |
| Communication Technology | |
| Advanced Metering Infrastructure (AMI) | |
| Other Technology Application Areas |
Saudi Arabia Smart Grid Network Market Size Summary
The smart grid market in Saudi Arabia is poised for significant expansion, driven by the country's increasing focus on renewable energy and the modernization of its existing grid infrastructure. The integration of advanced metering infrastructure (AMI) is expected to play a crucial role in this growth, facilitating the bi-directional flow of electricity and enhancing revenue collection while addressing issues like electricity theft in low-income areas. Despite the promising outlook, the market faces challenges such as the substantial initial investment required for grid modifications and the need to keep pace with the rapid development of renewable energy sources. The government's ambitious plans to deploy substantial solar and wind power capacities by 2030 are anticipated to create vast opportunities for smart grid players, further propelling market growth.
Saudi Arabia's commitment to modernizing its electricity grid is evident in its investments in smart metering and grid infrastructure, which are expected to drive the AMI market during the forecast period. The country's electricity production has seen significant growth, necessitating the adoption of smart grid technologies to meet rising demand and reduce transmission and distribution losses. Projects like the Sakaka Solar Power Plant and the installation of millions of smart meters underscore the nation's strategic focus on enhancing power distribution and efficiency. The smart grid market in Saudi Arabia is partially consolidated, with key players such as General Electric Company, ABB Ltd, and Saudi Electricity Company leading the charge in this transformative journey.
Saudi Arabia Smart Grid Network Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2025
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 PESTLE Analysis
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2. MARKET SEGMENTATION
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2.1 Technology Application Area
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2.1.1 Transmission
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2.1.2 Communication Technology
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2.1.3 Advanced Metering Infrastructure (AMI)
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2.1.4 Other Technology Application Areas
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Saudi Arabia Smart Grid Network Market Size FAQs
What is the current Saudi Arabia Smart Grid Network Market size?
The Saudi Arabia Smart Grid Network Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)
Who are the key players in Saudi Arabia Smart Grid Network Market?
General Electric Company , ABB Ltd, Honeywell International Inc , Saudi Electricity Company SJSC and CG Power and Industrial Solutions Ltd are the major companies operating in the Saudi Arabia Smart Grid Network Market.
