Saudi Arabia's Smart Meters Market Expected to Grow 11.14% to Reach USD Million by 2033, According to UnivDatos.

Key Highlights of the Report:

• The factors contributing to the improvement of Saudi Arabia's smart meters market include government-promoted initiatives under Vision 2030, increasing demand for energy efficiency, and extensive rollout plans for the digital grids framework. The rising application in the residential, commercial, and industrial sectors also boosts market growth.
• Automated Meter Reading (AMR) is spreading its dominance in the technology segment, whereas smart water meters are sprouting their root due to rising government concerns about environmentally friendly water governance.
• The Central Region is the leader in the market, which is backed by large-scale projects of the Saudi Electricity Company (SEC), and the Western Region is the fastest-growing due to urban growth and industrial demand.
• The competitive analysis reveals the specifications of key players, including Alfanar Group, Saudi Meters Company, SAMI Advanced Electronics, and Schneider Electric, all of which are investing in innovation, partnerships, and localization strategies.
• The increasing investments in smart grid infrastructure, as well as the growing rate of its adoption in the residential, commercial, and industrial sectors, are boosting Saudi Arabia in its journey toward full digitalization of the utility systems.

According to a new report by UnivDatos, the Saudi Arabia Smart Meters Market is expected to reach USD million in 2033 by growing at a CAGR of 11.14% during the forecast period (2025- 2033F). The growth of the Saudi smart meter market is driven by increasing energy demand, government requirements in the context of Vision 2030, the integration of renewable energy sources, and grid modernization. There is a growing interest in minimizing technical and non-technical losses, streamlining billing procedures, and empowering consumers with real-time information. The production localization and the use of IoT, AI, and big data analytics contribute to the market, while mega infrastructure projects in the residential, commercial, and industrial sectors provide impetus.

On May 25, 2025, the General Authority for Statistics (GASTAT) revealed that the digital economy’s share of the Gross Domestic Product (GDP) increased to 15.6%, marking a 1.6% rise compared to 2022. This is according to the results of the 2023 Digital Economy Statistics Publication.

The publication further highlighted that 71.6% of internet-connected establishments are leveraging smart devices or internet-enabled systems. These include advanced technologies such as smart alarm systems, smart meters, smart lighting, and surveillance cameras.

Driver: Government Support and Vision 2030 Initiatives

The adoption of smart meters in Saudi Arabia is also driven by government support, which is among the most powerful forces. As part of Vision 2030, the Kingdom has shifted towards digitalization and energy efficiency as a major pillar of its strategy to diversify its economy. The Ministry of Energy and the Saudi Electricity Company (SEC) have already implemented millions of smart meters and are investing more to install smart meters throughout the entire country. Also, projects enhance transparency in the billing process, reduce power output wastage, and align with Saudi Arabia's sustainability objectives, such as the implementation of renewable energy sources. Additionally, Vision 2030 aims to localize a portion of meter production, which in turn promotes domestic industrial development and employment.

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On December 16, 2024, Prince Abdulaziz highlighted the efforts to achieve the Kingdom's Vision 2030 goals, noting significant digital transformation in the energy sector. “Since 2021, more than 11 million smart meters have been installed across the Kingdom. These meters are a key factor in improving energy efficiency, enabling consumers to monitor their consumption in real time through smart applications.

Smart Meters Project SMP:

In line with Saudi Arabia’s Vision 2030, the Saudi Electricity Company started the smart meters roll-out project, which aims at propelling KSA to a new era of digital transformation. The project included the installation of 10 million smart meters for all current users. Mobily and Alfanar installed 5 million meters in the central and eastern regions from 2019 to 2021. One-third of the installed smart meters were manufactured locally.

Segments that transform the industry

• Based on technology, the market is segmented into Automated Meter Reading (AMR) and Advanced Metering Infrastructure (AMI). Among these, the automated meter reading (AMR) market held the largest share in 2024 due to the low-cost introduction of utilities that are transitioning to full automation. Its capability to automate the billing system and reduce human errors has made it gain the trust of companies, as well as end-users. Because AMR enables higher levels of scalability at a lower cost, the above technology will accelerate adoption and serve as a precursor to advanced metering infrastructure in the Kingdom.

Region that transforms the industry

• The Central Region held a dominant market share in 2024 due to the large-scale modernization of utility centers, high urban density, extensive government presence, and ongoing infrastructure expansion. Additionally, the majority of nationwide programs are tested here first, allowing companies to gain the advantage of earlier adoption of AMI systems, quicker integration of AMI, and higher consumer recognition. Therefore, the fact that the region is the center of administration and economics also ensures stable investment and long-term demand for advanced metering solutions.

Key Offerings of the Report

Market Size, Trends, & Forecast by Revenue | 2025−2033.

Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities

Market Segmentation – A detailed analysis by Technology, by Type, By Communication Technology, by Component, by End-User, by Region

Competitive Landscape – Top Key Vendors and Other Prominent Vendors