The South Africa smart grid network market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 3% during 2023–2031. The growth of the market is attributed to smart grid vision and renewable energy in this region.
South Africa introduced a Smart grid vision to define a standard national blueprint for the smart grid before industry stakeholders and participants commit to an investment program of this magnitude and complexity. South African National Energy Development Institution is a separate body working with industry to provide policy inputs, address the gaps in standards, and the deployment and application of technology in smart grid deployment. Furthermore, with the development of renewable energy sources, installed capacity of more than 2700 MW in 2014 and 6167 MW by the end of 2019, the demand for the smart grid has increased. With further renewable growth in the forecast period, the market is expected to grow significantly.
The Covid-19 pandemic had an adverse impact on the South Africa smart grid network market. The production and supply in the market has been on halt owing to lockdown; however, the government’s steps and strategies have helped to neutralised the situation. This pandemic has encouraged the key players to implement advance technologies to overcome these challenges and expand the market growth.
South Africa Smart Grid Network Market Trends, Drivers, Restraints, and Opportunities
Increasing investment and deployment of smart grid technologies such as intelligent transmission lines, smart meters, and others are anticipated to drive the market during the forecast period.
Applications such as improving the collection of revenue for electricity and addressing electricity theft in low-income areas are expected to propel the market in coming years.
Low accessibility to power in underdeveloped regions is projected to impede the market growth.
Huge investment required to develop new grid structure for upcoming renewable projects is anticipated to hinder the market growth.
R&D investment and technological advancement in South Africa smart grid network market are expected to offer lucrative opportunities for the market players.
Scope of South Africa Smart Grid Network Market Report
The report on South Africa smart grid network market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
South Africa Smart Grid Network Market –Industry Analysis, Growth, Share, Size, Trends, and Forecast
Technology Application Area (Transmission, Demand Response, Advanced Metering Infrastructure (AMI), and Others)
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Honeywell International Inc; General Electric Company; Eskom Holdings SOC Ltd; Itron Inc; and Schneider Electric SE
South Africa Smart Grid Network Market Segment insights
The advanced metering infrastructure (AMI) segment is projected to constitute a large market share
Based on technology application area, South Africa smart grid network market is segregated into transmission, demand response, advanced metering infrastructure (AMI), and others. The advanced metering infrastructure (AMI) segment is expected to account for a key share of the market during the forecast period owing to increasing efforts to modernize the electricity grid and reduce transmission and distribution losses, the government is investing in advanced metering infrastructure. Advanced metering infrastructure (AMI) or smart metering is an integrated system of smart meters, communications networks, and data management systems that enables two-way communication between utilities and customers.
The South Africa smart grid network market has been segmented on the basis of
Technology Application Area
- Demand Response
- Advanced Metering Infrastructure (AMI)
- Honeywell International Inc
- General Electric Company
- Eskom Holdings SOC Ltd
- Itron Inc
- Schneider Electric SE
Key players competing in the South Africa smart grid network market include Honeywell International Inc; General Electric Company; Eskom Holdings SOC Ltd; Itron Inc; and Schneider Electric SE
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.