Market Size of United Arab Emirates Smart Grid Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 2.50 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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United Arab Emirates Smart Grid Market Analysis
The United Arab Emirates smart grid market is expected to register a CAGR of more than 2.5% during the forecast period.
- Factors like the ongoing investment in grid modernization, robust renewable energy growth, and the need to meet growing power demand are expected to drive the market of intelligent grid networks in the forecast period.
- On the other hand, the United Arab Emirates is developing a smart grid at a pace with which the growing renewable energy sector and the significant initial investment for the modification of the network are expected to restrain the market in the future slightly.
- Dubai Electricity and Water Authority (DEWA) is actively contributing to transforming Dubai into the smartest city in the world. To support this objective, DEWA developed a comprehensive strategy to implement a smart water and electricity infrastructure. It is called a smart grid, which will provide advanced features and includes automated decision-making and interoperability across the entire electricity and water network.
- DEWA's Smart Grid Programme, with investments totaling AED 7 billion (USD 1.9 billion), is a key element in DEWA's strategy to develop an advanced infrastructure. It supports the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Emissions Strategy 2050 to provide 100% of the energy production capacity from clean energy sources by 2050. This is a good market opportunity to drive the smart meter market significantly.
United Arab Emirates Smart Grid Industry Segmentation
Smart Grid is a digitally enabled electrical grid that collects and distributes. It works on the information about the behavior of all suppliers and consumers to improve the efficiency, reliability, and sustainability of electricity service. It is a combination of information technology and operational technology. It consists of two-way digital communication of technologies and computer processing, enabling the electricity industry to manage energy delivery and transmission better.
The United Arab Emirates smart grid market is segmented based on technology application area into transmission, communication technology, advanced metering infrastructure (AMI), and other technology application areas.
The report offers the market size and forecasts for the smart grid market in revenue for all the above segments.
| By Technology Application Area | |
| Transmission | |
| Communication Technology | |
| Advanced Metering Infrastructure (AMI) | |
| Other Technology Application Areas |
United Arab Emirates Smart Grid Market Size Summary
The United Arab Emirates smart grid market is poised for growth, driven by ongoing investments in grid modernization, the expansion of renewable energy sources, and the increasing demand for power. The Dubai Electricity and Water Authority (DEWA) plays a pivotal role in this transformation, aiming to make Dubai the smartest city globally through its comprehensive smart grid strategy. This strategy includes significant investments in advanced metering infrastructure (AMI), which is crucial for the development of intelligent grid networks. DEWA's initiatives are aligned with the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Emissions Strategy 2050, which aim to achieve 100% energy production capacity from clean sources by 2050. These efforts present substantial opportunities for the smart meter market, as the region continues to modernize its electricity grid and adopt smart solutions.
Despite the promising growth prospects, the market faces challenges such as the need for substantial initial investments and the pace of development in the renewable energy sector. However, the integration of distributed energy resources (DERs) and the implementation of virtual power plants (VPPs) are expected to bolster the smart grid market further. The market is partially consolidated, with key players like General Electric Company, Honeywell International Inc., Schneider Electric SE, and Korea Electric Power Corporation contributing to its development. Recent advancements, such as DEWA's use of artificial intelligence to enhance smart meter functionality and predict malfunctions, underscore the ongoing innovation within the sector. As the UAE continues to pursue its ambitious clean energy targets, the smart grid market is anticipated to experience significant growth during the forecast period.
United Arab Emirates Smart Grid 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 2027
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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 By 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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United Arab Emirates Smart Grid Market Size FAQs
What is the current United Arab Emirates Smart Grid Market size?
The United Arab Emirates Smart Grid Market is projected to register a CAGR of greater than 2.5% during the forecast period (2024-2029)
Who are the key players in United Arab Emirates Smart Grid Market?
General Electric Company , Korea Electric Power Corporation , Schneider Electric SE , Dubai Electricity and Water Authority and Honeywell International Inc. are the major companies operating in the United Arab Emirates Smart Grid Market.
