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The GCC Smart Grid Market drivers and trends are as follows:
The primary factor driving the growth of the GCC smart grid market includes rising environmental concerns associated with carbon emission. The government prefers the use of renewable energy as the source of power generation to reduce carbon emission and to develop productive energy infrastructure. These factors support the growing demand for smart grids. Rapid industrialization and the rising population rate are some other factors that are increasing the energy demand in the GCC region. The smart grid technology helps to control and monitor the power flow, which identifies any theft of electricity, hence raising the revenue collection through power usage. These factors have changed the focus of the government to invest in energy infrastructure, thereby fuelling the growth of the smart grid market.
The FIFA world cup 2022, which is scheduled to be organized in Qatar, and World Expo 2020 is planned in Dubai. The increasing number of projects has accelerated the overall infrastructure development in the GCC region. Due to the growing number of events, the government’s interest has inclined to deploy smart grids to improve the power supply in the GCC region. Another major initiative taken by the government in Saudi Arabia Vision 2030, which focuses on boosting the power generation capacity to 3.45 GW by implementing smart grids, will further propel the market growth.
Key Benefits of the Report:
• This report offers an analytical depiction of the GCC smart grid market while providing the current trends and future estimations to determine the imminent investment pockets.
• This study illustrates every relevant information, including the market drivers, restraints, and emerging opportunities, followed by a detailed analysis of the GCC smart grid market share.
• The report also provides a detailed GCC smart grid market analysis based on competitive intensity and how the competition will take shape over the next six years.
Segmentation of the GCC Smart Grid Market:
Breakup by Component:
• Software
o Advanced Metering Infrastructure
o Smart Grid Distribution Management
o Smart Grid Network Management
o Grid Asset Management
o Substation Automation
o Smart Grid Security
o Billing and Customer Information System
• Hardware
• Service
o Consulting
o Deployment and Integration
o Support and Maintenance
Breakup by End-User:
• Residential
• Commercial
• Industrial
Breakup by Countries:
• Saudi Arabia
• Oman
• Kuwait
• UAE
• Rest of GCC
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