Saudi Arabia’s market for electric smart meters is expected to grow at a compound annual growth rate of around 10.12% in value terms during 2014-19, according to a report published by management consultancy TechSci Research.
The volume sales of smart meters in Saudi Arabia are expected to increase by over two folds by the end of 2019.
Karan Chechi, research director with TechSci Research, a research-based global management consulting firm, said: “A 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 the residential segment from 2015, and is expected to be completed by 2021.”
Kamstrup has already won a contract to install 2,378 water, cooling and electricity meters with IP data collection and a data management system as part of the Al Bustan smart metering project in the capital, Riyadh.
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