New research has found that increasing commercial and industrial sectors in Saudi Arabia are driving the countrys electric smart meters market. The Saudi Electric Company initiated the adoption of smart meters in 2010 in an attempt to minimise transmission and distribution losses. An additional benefit to (SEC), Saudi Arabias largest electricity producer and distributor, was that the devices enable the utility to map power demand and supply requirements.
By implementing smart meters, the utility is able to read the digital meters by using wireless technologies such as GPRS/3G, Wi-Fi, and RF. Adopting wireless technologies significantly reduces the operational cost for SEC and provides information crucial to optimising the power produced by eliminating leaks and inefficiencies.
TechSci Research concludes, Saudi Arabias market for electric smart meters is projected to grow at a CAGR of around 10.12 per cent in value terms during 2014-19. The volume sales of smart meters in Saudi Arabia are anticipated to increase by over two folds by the end of 2019.
TechScis The Saudi Arabia Electric Smart Meters Market Forecast & Opportunities, 2019 report, analyses the potential of the electric smart meters market in Saudi Arabia and provides statistics and information on market sizes, shares and trends.
Karan Chechi, TechSci Researchs research director adds: Strong implementation plan by the Saudi Arabian government is substantially driving the market for electric smart meters in the country. In 2013, Saudi Arabia had around 6.7 million electricity subscribers, which are expected to increase over the next five years due to growing industrialisation and urbanisation. The installation of smart meters is expected to be completed in four phases, wherein, commercial and industrial segments are expected to be covered in the first two phases. Smart meter installation is planned in residential segment from 2015, and is expected to be completed by 2021.
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