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.
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.
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
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| Regions covered | Eastern Region, Northern and Central Region, Southern Region, Western Region
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| 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
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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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By Solution:
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Advanced Metering Infrastructure
Billing and Customer Information System
Geographic Information System
Grid Asset Management
Smart Grid Communication
Smart Grid Distribution Management
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By Services:
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Consulting
Deployment and Integration
Support and Maintenance
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By Room Type:
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Luxury
Upper-Upscale
Upscale
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By Region:
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Eastern Region
Northern and Central Region
Southern Region
Western Region
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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 report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. 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. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. 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. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Saudi Arabia Smart Grid Network Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. 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, 2024-2033
7.2. Advanced Metering Infrastructure
7.3. Billing and Customer Information System
7.4. Geographic Information System
7.5. Grid Asset Management
7.6. Smart Grid Communication
7.7. 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, 2024-2033
8.2. Consulting
8.3. Deployment and Integration
8.4. 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 Region
12.4. Northern and Central Region
12.5. Southern Region
12.6. Western Region
13. Company Profile
13.1. ABB Ltd.
13.1.1. Company details
13.1.2. Financial outlook
13.1.3. Product summary
13.1.4. Recent developments
13.2. Advanced United Systems Co. Ltd.
13.2.1. Company details
13.2.2. Financial outlook
13.2.3. Product summary
13.2.4. Recent developments
13.3. Alfanar Group
13.3.1. Company details
13.3.2. Financial outlook
13.3.3. Product summary
13.3.4. Recent developments
13.4. Alstom SA
13.4.1. Company details
13.4.2. Financial outlook
13.4.3. Product summary
13.4.4. Recent developments
13.5. CG Power and Industrial Solutions Ltd.
13.5.1. Company details
13.5.2. Financial outlook
13.5.3. Product summary
13.5.4. Recent developments
13.6. General Electric Company
13.6.1. Company details
13.6.2. Financial outlook
13.6.3. Product summary
13.6.4. Recent developments
13.7. Honeywell International Inc.
13.7.1. Company details
13.7.2. Financial outlook
13.7.3. Product summary
13.7.4. Recent developments
13.8. Saudi Electricity Company SJSC
13.8.1. Company details
13.8.2. Financial outlook
13.8.3. Product summary
13.8.4. Recent developments
13.9. Schneider Electric SE
13.9.1. Company details
13.9.2. Financial outlook
13.9.3. Product summary
13.9.4. Recent developments
13.10. Others
14. List of Abbreviations
15. Reference Links
16. Conclusion
17. Research Scope