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. Download Free Sample Report in PDF Format: https://www.techsciresearch.com/sample-report.aspx?cid=14968 (Use your Corporate E mail Id for Faster Response) For More Information Visit: https://www.techsciresearch.com/report/saudi-arabia-smart-grid-market/14968.html 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.

The Global smart grid market is projected to grow at a CAGR of more than 10% over the period, 2023-2027. Increasing investment on infrastructure in various countries, economic growth, technology advancement and support of local competence and distribution centres across the globe is contributing towards the growth of the market during the forecast period. Government across the globe are focussing on implementation of smart grids and spreading awareness about energy conservation which is positively influencing the growth of the market. However, there are few challenges which act as a barrier in the growth of the market for global smart grid. One of them is the problem of low accessibility to electricity in underdeveloped nations. The global smart grid market is segmented based on type and geography. Based on geography, Asia-pacific dominated the market in 2021 as it has maximum deployment of smart meters on account of regulatory conditions and standardized policies. China is moving towards substantial reserves for smart meters implementation. The residential sector emerged as the most dominated market in case of smart meters. It helps the domestic customers to utilize significant features such as demand response, direct load control and reduction of peak purchases. Some of the major players operating in the Global Smart Grid market are Tendril, Schneider Electric, OnPowder, Silver Springs Networks, S&C, Itron, Siemens, Cisco, IBM, ABB. Download Free Sample Report: https://www.techsciresearch.com/sample-report.aspx?cid=4817 (Use your Corporate E-mail Id for Faster Response) For More Information Visit: https://www.techsciresearch.com/report/smart-grid-market/4817.html