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Robust Growth Projected for Middle East Smart Meter Market

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Dublin, Jan. 21, 2024 (GLOBE NEWSWIRE) — The “Middle East Smart Meter Market, Competition, Forecast & Opportunities, 2028” report has been added to ResearchAndMarkets.com’s offering.

In an era driven by technological innovation and sustainable solutions, a comprehensive market analysis reveals a significant trend in the Middle East – the burgeoning adoption of smart meters. This surge, echoed across residential, commercial, and industrial sectors, is detailed in the latest industry insights incorporated into a research publication available on our website.

The Middle East Smart Meter Market is poised for substantial growth, radiating robust momentum through 2028. Underpinned by the transition towards efficient energy use and the integration of smart grid technologies, the regional smart meter landscape is expanding at an impressive pace.

Underscored by pressing needs for precise energy monitoring solutions, landmark projects like the Red Sea Project and the Sharaan resort by Jean Nouvel in Al-Ula bolster the demand for these innovative devices. Smart meters, a technologically advanced iteration of traditional meters, have revolutionized the sphere of utilities, fostering an age where energy providers can streamline consumption data management directly with customers.

These intelligent systems not only empower real-time communication with utility companies but also provide instantaneous reporting on outages to hasten restoration efforts. Customers are granted unprecedented access to their energy usage, fostering a user-friendly interface that promotes more sustainable consumption patterns.

Transformative Impact of Smart Meter Installations Across the Middle East

The market momentum receives a significant push from strategic investments in smart meter technologies across various countries within the Middle East. For instance, Oman’s national smart meter program indicates a national adoption wave, replacing traditional meters with over a million smart meters by 2025 as part of the Digital Transformation Initiative.

Similarly, responsive initiatives in Qatar and Dubai are setting benchmarks for digital transformation in the region. With substantial investments to overhaul electric and water metering infrastructure, these efforts are hallmarks of the region’s commitment to modernizing utility management while delivering efficiency gains to consumers and utilities alike.

Key Market Segmentation Insight:

  • Segmented by product type – featuring smart energy, water, and gas meters.
  • Applications across industrial, commercial, and residential sectors.
  • Technology bifurcation – Automatic Meter Reading and Advanced Metering Infrastructure.
  • Country-wise analysis – including but not limited to Saudi Arabia, the United Arab Emirates, Qatar, and Kuwait.

Key Attributes:

Report Attribute Details
No. of Pages 130
Forecast Period 2023 – 2028
Estimated Market Value (USD) in 2023 $1.51 Billion
Forecasted Market Value (USD) by 2028 $2.61 Billion
Compound Annual Growth Rate 9.5%
Regions Covered Middle East

A selection of companies mentioned in this report includes

  • Kamstrup AS
  • Honeywell International Limited (Smart Energy)
  • Zenner International GmbH & Co. KG
  • Schneider Electric SE
  • Siemens AG
  • Badger Meter Middle East
  • Xylem Inc. (Sensus)
  • Secure Meters (Middle East) FZE
  • Wacker Chemicals Middle East
  • EDMI Continental DMCC

For more information about this report visit https://www.researchandmarkets.com/r/6fiylt

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