Market Size of South Africa Smart Grid Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 3.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South Africa Smart Grid Network Market Analysis
The market for smart grid network in South Africa is expected to grow at CAGR of more than 3% in the forecast period of 2020-2025. Factors such as upcoming renewable energy projects, increasing investment and deployment of smart grid technologies such as smart meters, intelligent transmission lines, and other associated smart grid infrastructure technologies are expected to drive the market in the coming years. Also, to improve the collection of revenue for electricity and to address electricity theft in low-income areas, the demand for smart grid network is expected to grow. However, the problem of low accessibility to power in underdeveloped regions, along with investment required to develop new grid structure for upcoming renewable projects is expected to hinder the market growth.
- Advanced Metering Structure is expected to drive the smart grid network significantly, providing monitoring of bi-directional flow of electricity, owing to increasing grid development.
- South Africa is showing massive growth in the renewable market, reaching more than 6100 MW in 2019. This, in turn, is expected to create a significant opportunity and demand for the new T&D infrastructure and thereby creating an ample amount of opportunity for the smart grid network in the near future.
- South Africa is aiming to develop and renovate its aging grid infrastructure. To meet the growing electricity demand, The South African National Energy Development Institute (SANEDI) updated the South African Smart Grid Initiative in 2017.
