Market Size of United Arab Emirates Smart Grid Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 2.50 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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United Arab Emirates Smart Grid Market Analysis
The United Arab Emirates smart grid market is expected to register a CAGR of more than 2.5% during the forecast period.
- Factors like the ongoing investment in grid modernization, robust renewable energy growth, and the need to meet growing power demand are expected to drive the market of intelligent grid networks in the forecast period.
- On the other hand, the United Arab Emirates is developing a smart grid at a pace with which the growing renewable energy sector and the significant initial investment for the modification of the network are expected to restrain the market in the future slightly.
- Dubai Electricity and Water Authority (DEWA) is actively contributing to transforming Dubai into the smartest city in the world. To support this objective, DEWA developed a comprehensive strategy to implement a smart water and electricity infrastructure. It is called a smart grid, which will provide advanced features and includes automated decision-making and interoperability across the entire electricity and water network.
- DEWA's Smart Grid Programme, with investments totaling AED 7 billion (USD 1.9 billion), is a key element in DEWA's strategy to develop an advanced infrastructure. It supports the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Emissions Strategy 2050 to provide 100% of the energy production capacity from clean energy sources by 2050. This is a good market opportunity to drive the smart meter market significantly.
