Saudi Arabia Smart Meter Market

Smart Meter is the upgraded version of the traditional meter with additional features. A smart meter provides feasibility to get quick and real-time information about energy consumption based on day, week, or month. The devices are connected via Wifi, which provides two-way communication between the meter and the central system. A smart meter consists of three main components: power system, microcontroller, and communication interface. The power system allows consistent supply of power with battery backup. Microcontroller converts the signals and sends output so that accurate information can be collected.

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The rising demand for efficient energy solutions, along with the development of smart city projects in the region are the key factors driving the growth of the Saudi Arabia Smart Meter market. The increasing energy demand as a result of accelerating infrastructure and economic growth is promoting the demand for efficient energy management solutions, thereby driving the growth of the market. The country aims to install about 12 million smart Meter by 2025, and the implementation of smart Meter is leading to the restructuration of Saudi’s electricity sector, thus complementing the growing demand of smart meters. The smart meters offer exceptional benefits, including improved energy management and consumption, increased meter reading accuracy, reporting of theft, and tampering along with accurate consumption. On the other hand, the high installation cost of smart meters as compared to the traditional meters will hinder the growth of the market.

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Saudi Electricity Company has started the smart meters roll-out project to drive KSA to the beginning of digital transformation, in accordance with Saudi Arabia’s Vision 2030. Including the installation of 10 million smart meters for all existing users. Saudi Electricity Company (SEC) claimed that 10 million smart electricity meters have been installed in less than 14 months. According to the utility, four million units out of the 10 million installations were locally made. Mobily and Alfanar have installed five million meters, located in the eastern and central regions. The installation occurred over the period 2019 to 2021, in which local manufacturers provided a third of the installed smart meters. It reflects Saudi Arabia’s commitment to decreasing its reliance on technology imports and promote domestic employment.

Based on Type, the Saudi Arabia Smart Meter market is segmented into Smart Water Meters, Smart Electric Meters, and Smart Gas Meters. The Smart Water meter segment is expected to grow at a higher CAGR over the forecast period owing to the increasing demand for smart water meters to monitor and optimize water consumption, followed by the increasing requirement for accurate billing. The numerous ongoing projects such as the development of smart cities such as Neom, Red Sea project, Amaala, Jean Nouvel’s Sharaan resort in Al-Ula and Qiddiya entertainment city, will drastically increase the demand for water, thereby boosting the demand for smart water meters in this region.

Based on End-User, the Saudi Arabia Smart Meter market is segmented into Commercial, Residential and Industrial. The commercial segment is anticipated to lead the market during the forecast period owing to the increasing development of smart cities along with other mega construction projects such as the development of Jaddah tower, Amaala, Sharaan resort at Al-Ula, Jabal Omar and Al Widyan in Saudi Arabia.

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Various notable players operating in the Saudi Arabia Smart Meter market include Iskraemeco d.d., Kamstrup, Itron Inc., Xylem Inc., Abunayyan Holding, Advanced Electronics Company Limited, Enel S.p.A, Landis + Gyr AG, and Spire Metering Technology LLC among others.

Key Developments

• • In 2019, Kamstrup introduced new automated metering infrastructure system that achieves a high reading performance with minimal hardware investment.

The Saudi Arabia Smart Meter market has been segmented on the basis of type, communication type, component, end-user, and technology. Based on Type, the market is segmented into Smart Water Meters, Smart Electric Meters, and Smart Gas Meters. Based on the communication type, the market is segmented into RF, PL and Cellular. Based on the component, the market is segmented into Hardware and Software. Based on the end-user, the market is segmented into Commercial, Residential, and Industrial. Based on technology, the market is segmented into Advanced Metering Infrastructure (AMI) and Automatic Meter Reading (AMR).

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Key questions answered in this research report:

• • At what pace is Saudi Arabia Smart Meter market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Saudi Arabia Smart Meter market? What will be the impact of drivers and restraints in the future?
  • Which Type generated maximum revenues in 2019 and identify the most promising Type during the forecast period?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?
  • What are the various End-Users of Saudi Arabia Smart Meter market and how they are poised to grow?

Market Segmentation

Saudi Arabia Smart Meter Market by Type

• • Smart Water Meter
  • Smart Electric Meter
  • Smart Gas Meter

Saudi Arabia Smart Meter Market by Communication Type

• • RF
  • PLC
  • Cellular

Saudi Arabia Smart Meter Market by Component Type

• • Hardware
  • Software

Saudi Arabia Smart Meter Market by End-User

• • Commercial
  • Residential
  • Industrial

Saudi Arabia Smart Meter Market by Technology

• • Advanced Metering Infrastructure (AMI)
  • Automatic Meter Reading (AMR)

Saudi Arabia Smart Meter Leading market players (Option 1: Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Iskraemeco d.d.
  • Kamstrup
  • Itron Inc.
  • Xylem Inc.
  • Abunayyan Holding
  • Advanced Electronics Company Limited
  • Enel S.p.A
  • Landis + Gyr AG
  • Spire Metering Technology LLC