Market Research Report
Middle East Smart Grid Network Market Outlook - Market Analysis by Geography, Components, Competitive Landscape, Key Company Information - Growth Trends and Forecasts (2017 - 2022)
|Published by||Mordor Intelligence LLP||Product code||389279|
|Published||Content info||80 Pages
Delivery time: 1-2 business days
|Middle East Smart Grid Network Market Outlook - Market Analysis by Geography, Components, Competitive Landscape, Key Company Information - Growth Trends and Forecasts (2017 - 2022)|
|Published: January 15, 2017||Content info: 80 Pages||
The Middle East regions smart grid market is expected to reach USD XX billion by 2022 from USD XX in 2015, growing at a CAGR of XX%.
The Middle East is in the early stages of smart grid development but accelerated growth, underpinned by large domestic demand. Smart grid development shows strong potential in the near to medium-term. In the Gulf States, high incomes, high electricity consumption, and small populations are driving smart meter deployments. Elsewhere, concerns over distribution losses and poor energy efficiency are creating positive smart grid business cases. And throughout the region, extensive solar power development and grid connections are requiring rapid grid modernization. Overall, the Middle East region is likely to be one of technological leaders in smart grid among emerging market regions.
On the Flipside, High implementation costs hinder the deployment of smart grids. There is also public concern over issues like privacy, fair availability of electricity, and a fear of misuse of the variable tariff system. The power savings and network stabilization that they provide outweigh the disadvantages of smart grids.
Smart grid in the Middle East region will likely be a state-driven process, due to government control of nearly all electricity activity throughout the region. This creates both opportunities and challenges for smart grid development. In particular, Middle East countries continue to move forward with smart city concepts and are looking to highlight the modernization of their economies. As these projects proliferate, the Middle East smart grid market is expected to see steady growth in the near-to-medium term.