Report Description

Saudi Arabia Smart Grid market is anticipated to grow at a robust CAGR in the forecast period. A smart grid is an energy network based on digital technology that is used to deliver electricity to consumers through two-way digital communication. The system enables monitoring, analysis, management, and communication within the supply chain to improve efficiency, reduce energy consumption and costs, and maximize transparency and reliability of the energy supply chain. The smart grid was introduced to use smart grid meters to overcome the weaknesses of the traditional electricity grid. The two-way flow of electricity and data, which is an intrinsic feature of the smart grid, enables the distribution of information and data to various actors in the electricity market, enabling them to optimize the grid. Through it, forecast potential can be analyzed to respond faster and build new capabilities (and services), as the energy landscape changes.

Government Projects Driving the Growth for Saudi Arabia Smart Grid Market

Advanced Metering Infrastructure (AMI) or Smart Metering, an integrated system of intelligent meters, communication networks, and data management systems, is the cornerstone of smart grids and is expected to grow significantly. In 2019, Saudi Electricity Co. won USD 2.5 billion project to install 10 million smart meters across Saudi Arabia as part of a broader electricity distribution improvement plan. Saudi Arabia witnessed a significant increase in electricity generation in 2018 and is expected to increase during the forecast period. From 333 TWh in 2014 to 383 TWh in 2018, the demand for smart grids and smart meters is also increasing, driven by new power plants and new grids. Saudi Arabia is investing in pre-metering infrastructure as efforts intensify to modernize the power grid and reduce transmission and distribution losses. This is anticipated to drive the AMI market during the forecast period. Smart grids can collect much more data than manual energy meter reading systems. This allows the use of data analysis techniques and creation of highly realistic consumption forecasts. This allows energy suppliers to better match production with consumption (balance) and reduce energy surpluses.

Another important benefit of the remote administration system is more accurate invoices. It reduces the cost of older systems with manual power metering, as it always reflects actual monthly consumption rather than estimates. In addition to remote access to information about installations, problems are easier to diagnose, solutions can be implemented faster, thereby improving customer service. Today, customers need to notify businesses and take required actions. However, with remote management, the system itself automatically reports incidents to the utility company, allowing users to respond more quickly.

Latest Developments Fueling the Market Growth in Saudi Arabia Smart Grid Market

ZIV Automation and its parent company, Alfanar, have delivered approximately 550,000 smart meters for the smart grid implementation of the Saudi Electric Power Company (SEC), in 2021. In addition to smart meters, ZIV Automation also provided dual communication technology, PLC-PRIME 1.4 FCC and NB-IoT system.

In the year 2023, the Saudi power company has signed two contracts totaling USD720 million with Chinese and Saudi companies for a project to supply and install 60,000 smart devices in the kingdom's electricity grid. The project also includes connecting the country's electricity distribution network to an advanced control center over the next two years, as the SEC intends to automate and develop the electrical network in line with its digital transformation strategy.

In 2020, Saudi Electricity Company signed a USD1.1 billion contract with State Grid Corporation of China (SGCC) to deliver 10 million smart meters in Saudi Arabia. The project involved the installation and commissioning of 10 million smart meters across the country.


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Market Segmentation

Saudi Arabia Smart Grid market is segmented into Solution and Services. Based on Solution, the market is segmented into Advanced Metering Infrastructure, Smart Grid Distribution Management, Smart Grid Communication, Grid Asset Management, Geographic Information System, Billing and Customer Information System. Based on Services, the market is bifurcated into Deployment & Integration, Consulting, and Support & Maintenance.


Market player

Major market players in the Saudi Arabia Smart Grid market are CG Power and Industrial Solutions Ltd, General Electric Company, ABB Ltd, Schneider Electric SE, Honeywell International Inc, Saudi Electric Company, Alfanar Electrical Systems LLC, State Grid Corporation of China, Advanced Electronics Company.

 

Attribute

Details

Base Year

2022

Historic Data

2018– 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million and CAGR for 2018-2022 and 2023-2028

Report coverage

Revenue forecast, company share, growth factors, and trends

Segments covered

Solution

Services

Regional scope

Makkah, Riyadh, Eastern Province, Rest of Saudi Arabia

Key companies profiled

CG Power and Industrial Solutions Ltd, General Electric Company, ABB Ltd, Schneider Electric SE, Honeywell International Inc, Saudi Electric Company, Alfanar Electrical Systems LLC, State Grid Corporation of China, Advanced Electronics Company.

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Report Scope:

In this report, Saudi Arabia Smart Grid Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

            ·         Saudi Arabia Smart Grid Market, By Solution:

o   Advanced Metering Infrastructure

o   Smart Grid Distribution Management

o   Smart Grid Communication

o   Grid Asset Management

o   Geographic Information System

o   Billing and Customer Information System

            ·         Saudi Arabia Smart Grid Market, By Services:

o   Deployment & Integration

o   Consulting

o   Support & Maintenance

            ·         Saudi Arabia Smart Grid Market, By Region:

o   Makkah

o   Riyadh

o   Eastern Province

o   Rest of Saudi Arabia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Saudi Arabia Smart Grid market.

Available Customizations:

Saudi Arabia Smart Grid market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report.

Company Information

·         Detailed analysis and profiling of additional market players.

The Saudi Arabia Smart Grid market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

2.    Research Methodology

3.    Executive Summary

4.    Impact of COVID-19 on Saudi Arabia Smart Grid Market

5.    Voice of Customers

6.    Saudi Arabia Smart Grid Market Outlook

6.1.  Market Size & Forecast

6.1.1.              By Value

6.2.  Market Share & Forecast

6.2.1.              By Solution (Advanced Metering Infrastructure, Smart Grid Distribution Management, Smart Grid Communication, Grid Asset Management, Geographic Information System, Billing and Customer Information System)

6.2.2.              By Services (Deployment & Integration, Consulting, Support & Maintenance)

6.2.3.              By Region

6.2.4.              By Company

6.3.  Market Map

7.    Makkah Smart Grid Market Outlook

7.1.  Market Size & Forecast

7.1.1.              By Value

7.2.  Market Share & Forecast

7.2.1.              By Solution

7.2.2.              By Services

8.    Riyadh Smart Grid Market Outlook

8.1.  Market Size & Forecast

8.1.1.              By Value

8.2.  Market Share & Forecast

8.2.1.              By Solution

8.2.2.              By Services

9.    Eastern Province Smart Grid Market Outlook

9.1.  Market Size & Forecast

9.1.1.              By Value

9.2.  Market Share & Forecast

9.2.1.              By Solution

9.2.2.              By Services

10. Market Dynamics

10.1.   Drivers

10.1.1.           Advantages of smart grid

10.1.2.           Data from smart meters

10.1.3.           More accurate than traditional meters

10.2.   Challenges

10.2.1.           Inadequate grid infrastructure

11. Market Trends & Developments

11.1.   ZIV Automation smart meters

11.2.   Saudi power company contracts totaling USD720 Million

11.3.   Saudi Electricity Company deal with State Grid Corporation of China (SGCC)

12. Company Profiles

12.1.   CG Power and Industrial Solutions Ltd

12.1.1.           Business Overview

12.1.2.           Key Revenue and Financials (If available)

12.1.3.           Recent Developments

12.1.4.           Key Personnel

12.1.5.           Key Product/Services

12.2.   General Electric Company

12.2.1.           Business Overview

12.2.2.           Key Revenue and Financials (If available)

12.2.3.           Recent Developments

12.2.4.           Key Personnel

12.2.5.           Key Product/Services

12.3.   ABB Ltd

12.3.1.           Business Overview

12.3.2.           Key Revenue and Financials (If available)

12.3.3.           Recent Developments

12.3.4.           Key Personnel

12.3.5.           Key Product/Services

12.4.   Schneider Electric SE

12.4.1.           Business Overview

12.4.2.           Key Revenue and Financials (If available)

12.4.3.           Recent Developments

12.4.4.           Key Personnel

12.4.5.           Key Product/Services

12.5.   Honeywell International Inc

12.5.1.           Business Overview

12.5.2.           Key Revenue and Financials (If available)

12.5.3.           Recent Developments

12.5.4.           Key Personnel

12.5.5.           Key Product/Services

12.6.   Saudi Electric Company

12.6.1.           Business Overview

12.6.2.           Key Revenue and Financials (If available)

12.6.3.           Recent Developments

12.6.4.           Key Personnel

12.6.5.           Key Product/Services

12.7.   Alfanar Electrical Systems LLC

12.7.1.           Business Overview

12.7.2.           Key Revenue and Financials (If available)

12.7.3.           Recent Developments

12.7.4.           Key Personnel

12.7.5.           Key Product/Services

12.8.   State Grid Corporation of China

12.8.1.           Business Overview

12.8.2.           Key Revenue and Financials (If available)

12.8.3.           Recent Developments

12.8.4.           Key Personnel

12.8.5.           Key Product/Services

12.9.   Advanced Electronics Company

12.9.1.           Business Overview

12.9.2.           Key Revenue and Financials (If available)

12.9.3.           Recent Developments

12.9.4.           Key Personnel

12.9.5.           Key Product/Services

13. Strategic Recommendations

13.1.   More focused on Advanced Metering Infrastructure segment

13.2.   More focused on Deployment & Integration segment

14. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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A smart grid is a power grid that uses digital and other advanced technologies to monitor and manage the transportation of electricity from all sources to meet the diverse power needs of end users.

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Traditional power grids only carry electricity in one direction. In some cases, only local two-way communication is possible. Smart grids provide bi-directional power and information flow. The smart grid offers fully automated protection.

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Major players in Saudi Arabia Smart Grid Market are CG Power and Industrial Solutions Ltd, General Electric Company, ABB Ltd, Schneider Electric SE, Honeywell International Inc, Saudi Electric Company, Alfanar Electrical Systems LLC, State Grid Corporation of China, Advanced Electronics Company.

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The smart grid transmits real-time information on electricity consumption and consumption to all grid operators (generators, distributors, consumers). The idea is to use this real-time information to adjust power flow and improve energy efficiency.

profile

Parvati Sharma

Account Manager BD
Press Release

Saudi Arabia Smart Grid Market to be dominated by Advanced Metering Infrastructure through 2028

Apr, 2023

Upgradation of existing grid networks and awareness for renewable energy are major factors driving the Saudi Arabia Smart Grid market in the forecast period 2024-2028.