The South Africa smart grid network market size is estimated to register a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to smart grid vision and renewable energy in this region.
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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.
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.
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.
Competitive Landscape
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
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The newly added Smart Grid market research report by Value Market Research disclose all the important information associated with the market such as value, growth factor, trends, market share, size, and challenges for the forecasted timeline 2020-2027.
Basically, this report is designed to give a proper understanding of industry structure and competition intensity attractiveness.The report also covers detailed competitive landscape including company profiles of key players operating in the global market.
An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.Get more information on "Global Smart Grid Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/smart-grid-market/download-sampleMarket DynamicsThe rising government support in the form of funding and favorable policies are driving market growth.
Modernization of existing grid infrastructure with improved grid reliability and efficient outage response is again accelerating the market growth.
On the other hand, high initial costs for deployment and cybersecurity and vulnerabilities associated with the smart grid technology solutionmay hamper market growth.
Whereas, upcoming smart cities projects in developing regions are expected to offer an opportunity over the forecast period.This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis.
