Saudi Arabia Smart Grid Network Market Growth, Size, Trends, Share, Demand and Future Outlook
Saudi Arabia Smart Grid Network Market Size- By Solution, By Services- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Feb-2024 | Report ID: IACT2435 | Pages: 1 - 103 | Formats*: |
| Category : Information & Communications Technology | |||
Saudi Arabia Smart Grid Network Market Introduction and Overview
According to SPER Market Research, the Saudi Arabia Smart Grid Network Market is estimated to reach USD XX Billion by 2033 with a CAGR of 3.1%.
The report includes an in-depth analysis of the Saudi Arabia Smart Grid Network Market, including market size and trends, product mix, applications, and supplier analysis. An energy network known as a "smart grid" enables two-way data and electrical transmission in addition to detection and response. Smart grids enable power consumers to participate actively in the system and are self-healing. An electrical system that can monitor power flow from the point of generation to the point of usage is called a smart grid. It includes systems for automation, communication, and information technology (IT). The smart grid has several advantages, such as more efficient power transmission, instantaneous power restoration following a blackout, cost savings for consumers from utilities' operations and management, the ability to lower peak demand and consequently lower electricity prices, and increased integration of large-scale renewable energy systems.
- 2018: Saudi Arabia produced a lot more electricity in 2018, and this trend is probably going to continue. With electricity generation rising from 333 TWh in 2014 to 383 TWh in 2018, there is a greater need for smart metres and a smart grid. The need for smart metres and smart grids has increased due to new power plants and grid networks. Saudi Arabia is upgrading the energy system and reducing transmission and distribution losses by investing in sophisticated metering equipment. The AMI market is therefore expected to grow during the forecast period.
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Market Opportunities and Challenges
The market for smart grid networks in Saudi Arabia offers utilities a number of opportunities to improve energy management and encourage customer conservation. Deploying advanced metering infrastructure (AMI), such as smart metres, presents an opportunity as it allows for real-time invoicing and gives customers the ability to effectively monitor and manage their energy usage. Furthermore, demand response programmes are made possible by smart grid networks, which enable utilities to minimise peak demand, maximise energy consumption, and encourage customers to modify their usage habits. In addition, utilities can enhance asset management and grid operations through real-time monitoring, predictive analytics, and maintenance optimisation when smart grid technologies are implemented. These actions address energy efficiency objectives, improve grid dependability, and save costs. Demand response, advanced metering infrastructure, and grid optimisation techniques offer utilities a number of chances to update their systems and satisfy Saudi Arabia's changing energy requirements.
The installation of smart grid networks in Saudi Arabia is hindered by multiple causes. First off, utilities and energy firms face a big barrier in building smart grid networks due to the huge initial capital investment required, which includes installing smart metres, upgrading infrastructure, and putting communication systems in place. Furthermore, it takes a lot of effort and time to achieve standardisation and interoperability across the many systems and components that make up the smart grid network. Additionally, as smart grid networks become more connected, there is a greater chance of cyberattacks and data breaches. As a result, strong cybersecurity defences and ongoing monitoring are required to protect grid infrastructure and consumer data. These difficulties highlight the necessity of meticulous planning, prioritising investments, and implementing strict security measures in the creation and implementation of smart grid networks in Saudi Arabia.
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Market Competitive Landscape
The Saudi Arabian smart grid network market is distinguished by the participation of both domestic and foreign firms. System integrators, energy firms, communication network providers, and technology suppliers are important participants. Competitiveness is determined by things like product offerings, technological prowess, project management, and customer service. The major key players in the Saudi Arabia Smart Grid Network Market are: ABB Ltd., Advanced United Systems Co. Ltd., Alfanar Group, Alstom SA, CG Power and Industrial Solutions Ltd., General Electric Company, Honeywell International Inc., Saudi Electricity Company SJSC, Schneider Electric SE, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Solution, By Services |
| Regions covered | Eastern Region, Northern and Central Region, Southern Region, Western Region |
| Companies Covered | ABB Ltd., Advanced United Systems Co. Ltd., Alfanar Group, Alstom SA, CG Power and Industrial Solutions Ltd., General Electric Company, Honeywell International Inc., Saudi Electricity Company SJSC, Schneider Electric SE, Others |
COVID-19 Impact on Saudi Arabia Smart Grid Network Market
The market for smart grid networks in Saudi Arabia has been impacted by the Covid-19 outbreak in both the short and long term. Due to unstable economic conditions, the pandemic has caused short-term delays in project completion, disruptions in the supply chain, and decreased investments. But the pandemic has also brought attention to how crucial robust and dependable electricity infrastructure is. Advanced grid technologies are now required by utilities to maintain system stability, enable remote monitoring, and efficiently control electricity consumption. It is anticipated that the pandemic's long-term effects would spur the use of smart grid networks as utilities place a higher priority on grid resilience and modernization.
Key Target Audience
- Environmental organizations and advocacy groups
- Industrial and commercial sectors
- Research institutions and academia
- Residential consumers
- Technology vendors and solution providers
- Utility companies and energy providers
- Others
Our in-depth analysis of the Saudi Arabia Smart Grid Network Market includes the following segments:
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Key Topics Covered in the Report
- Saudi Arabia Smart Grid Network Market Size (FY’2024-FY’2033)
- Overview of Saudi Arabia Smart Grid Network Market
- Segmentation of Saudi Arabia Smart Grid Network Market By Solution (Advanced Metering Infrastructure, Billing and Customer Information System, Geographic Information System, Grid Asset Management, Smart Grid Communication, Smart Grid Distribution Management)
- Segmentation of Saudi Arabia Smart Grid Network Market By Services (Consulting, Deployment and Integration, Support and Maintenance)
- Statistical Snap of Saudi Arabia Smart Grid Network Market
- Expansion Analysis of Saudi Arabia Smart Grid Network Market
- Problems and Obstacles in Saudi Arabia Smart Grid Network Market
- Competitive Landscape in the Saudi Arabia Smart Grid Network Market
- Impact of COVID-19 and Demonetization on Saudi Arabia Smart Grid Network Market
- Details on Current Investment in Saudi Arabia Smart Grid Network Market
- Competitive Analysis of Saudi Arabia Smart Grid Network Market
- Prominent Players in the Saudi Arabia Smart Grid Network Market
- SWOT Analysis of Saudi Arabia Smart Grid Network Market
- Saudi Arabia Smart Grid Network Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Saudi Arabia Smart Grid Network Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Saudi Arabia Smart Grid Network Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Saudi Arabia Smart Grid Network Market
7. Saudi Arabia Smart Grid Network Market, By Solution (USD Million)
7.1. Saudi Arabia Smart Grid Network Market Value Share and Forecast, By Solution, 2024-20337.2. Advanced Metering Infrastructure7.3. Billing and Customer Information System7.4. Geographic Information System7.5. Grid Asset Management7.6. Smart Grid Communication7.7. Smart Grid Distribution Management
8. Saudi Arabia Smart Grid Network Market, By Services (USD Million)
8.1. Saudi Arabia Smart Grid Network Market Value Share and Forecast, By Services, 2024-20338.2. Consulting8.3. Deployment and Integration8.4. Support and Maintenance
9. Saudi Arabia Smart Grid Network Market Forecast, 2020-2033 (USD Million)
9.1. Saudi Arabia Smart Grid Network Market Size and Market Share
10. Saudi Arabia Smart Grid Network Market, By Solution, 2020-2033 (USD Million)
10.1. Saudi Arabia Smart Grid Network Market Size and Market Share By Solution (2020-2026)10.2. Saudi Arabia Smart Grid Network Market Size and Market Share By Solution (2027-2033)
11. Saudi Arabia Smart Grid Network Market, By Services, 2020-2033 (USD Million)
11.1. Saudi Arabia Smart Grid Network Market Size and Market Share By Services (2020-2026)11.2. Saudi Arabia Smart Grid Network Market Size and Market Share By Services (2027-2033)
12. Saudi Arabia Smart Grid Network Market, By Region, 2020-2033 (USD Million)
12.1. Saudi Arabia Smart Grid Network Market Size and Market Share By Region (2020-2026)12.2. Saudi Arabia Smart Grid Network Market Size and Market Share By Region (2027-2033)12.3. Eastern Region12.4. Northern and Central Region12.5. Southern Region12.6. Western Region
13. Company Profile
13.1. ABB Ltd.
13.1.1. Company details13.1.2. Financial outlook13.1.3. Product summary13.1.4. Recent developments
13.2. Advanced United Systems Co. Ltd.
13.2.1. Company details13.2.2. Financial outlook13.2.3. Product summary13.2.4. Recent developments
13.3. Alfanar Group
13.3.1. Company details13.3.2. Financial outlook13.3.3. Product summary13.3.4. Recent developments
13.4. Alstom SA
13.4.1. Company details13.4.2. Financial outlook13.4.3. Product summary13.4.4. Recent developments
13.5. CG Power and Industrial Solutions Ltd.
13.5.1. Company details13.5.2. Financial outlook13.5.3. Product summary13.5.4. Recent developments
13.6. General Electric Company
13.6.1. Company details13.6.2. Financial outlook13.6.3. Product summary13.6.4. Recent developments
13.7. Honeywell International Inc.
13.7.1. Company details13.7.2. Financial outlook13.7.3. Product summary13.7.4. Recent developments
13.8. Saudi Electricity Company SJSC
13.8.1. Company details13.8.2. Financial outlook13.8.3. Product summary13.8.4. Recent developments
13.9. Schneider Electric SE
13.9.1. Company details13.9.2. Financial outlook13.9.3. Product summary13.9.4. Recent developments
13.10. Others
14. List of Abbreviations
15. Reference Links
16. Conclusion
17. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Saudi Arabia Smart Grid Network Market CAGR of 3.1% during the forecast period.
You can get the sample pages by clicking the link - Click Here
Saudi Arabia Smart Grid Network Market size is USD XX billion from 2023 to 2033.
Saudi Arabia Smart Grid Network Market Segment is covered By Solution, By Services.
The Middle East is anticipated to have the highest Market share in the Saudi Arabia Smart Grid Network Market.
The key players in the Market include Companies Covered ABB Ltd., Advanced United Systems Co. Ltd., Alfanar Group, Alstom SA, CG Power and Industrial Solutions Ltd., General Electric Company, Honeywell International Inc., Saudi Electricity Company SJSC, Schneider Electric SE, Others
An energy network known as a "smart grid" enables two-way data and electrical transmission in addition to detection and response.
Saudi Arabia Smart Grid Network Market is projected to reach USD XX billion by 2033, growing at a CAGR of 3.1% during the forecast period.
Saudi Arabia Smart Grid Network Market grew in Market size from 2022. The Market is expected to reach USD XX billion by 2033, at a CAGR of 3.1% during the forecast period.
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