Saudi Arabia Smart Meters Market: Current Analysis and Forecast (2025-2033)

Saudi Arabia Smart Meters Market Size & Forecast

The Saudi Arabia Smart Meters Market was valued at USD 2,185.42 million in 2024 and is expected to grow at a strong CAGR of around 11.14% during the forecast period (2025-2033F), driven by government support through Vision 2030 initiatives.

Saudi Arabia Smart Meters Market Analysis

A smart meter is an advanced energy-monitoring technology designed to measure consumption patterns with high precision, deliver real-time usage information, and help promote dynamic pricing. Smart meters also achieve this by integrating IoT and communication technology to enable the coordination of efficiency requirements between utilities and consumers, thereby reducing waste.

To achieve growth in the Saudi Arabia Smart Meters market, the rising adoption of smart meters under national energy transformation plans is expected, as the country has already deployed millions of smart meters in industrial, commercial, and residential spaces. A large proportion of these meters is manufactured in the country, which is aligned with the country's aim of developing and increasing domestic manufacturing and technology transfer. To facilitate an efficient movement of data or real-time monitoring, utilities are implementing sophisticated communication systems (i.e., RF, PLC, and cellular networks). Meanwhile, it is incorporating software-based platforms to make billing more accurate, identify losses, and provide consumers with instant use realities. These concerted efforts, backed by the cooperation of utilities, technology, and system integrators, are establishing a comprehensive environment that not only promotes rapid adaptation but also fosters sustainable smart meter infrastructure in the Kingdom.

On July 24, 2025, Wipro Limited announced a multi-year strategic contract from Saudi Electric Company – National Grid SA. Wipro will implement a Smart Meter Data Management (MDM) system for the transmission network to modernize the client’s meter data platform, enhance operational efficiencies, and better manage risks.

Saudi Arabia Smart Meters Market Trends

This section discusses the key market trends that are influencing the various segments of the Saudi Arabia Smart Meters market, as found by our team of research experts.

Large-Scale Deployment by Saudi Electricity Company (SEC)

The Saudi Electricity Company (SEC) is leading a huge rollout of smart meters in Saudi Arabia, which is a big trend in the market. The utility has also put millions of smart meters in the Kingdom, which gives it a digital energy monitoring network across the country. The project not only helps make billing more accurate and cut down on losses, but it also speeds up the process of turning the grid into a fully integrated smart grid. The SEC's deployment is a good example for future projects, and it makes technology providers and other stakeholders more confident in the market.

Saudi Arabia Smart Meters Industry Segmentation

This section provides an analysis of the key trends in each segment of the Saudi Arabia Smart Meters market report, along with forecasts at the regional and provincial levels for 2025-2033.

The automated meter reading (AMR) market dominated the market share in 2024.

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.

The smart water meter market is expected to grow with a considerable CAGR during the forecast period (2025-2033F).

Based on type, the Saudi Arabian Smart Meters market is segmented into smart electric meters, smart gas meters, and smart water meters. Among them, the smart water meter market is expected to grow with the highest CAGR during the forecast period (2025-2033F). The adoption of smart water meters is gaining momentum as Saudi Arabia prioritizes water conservation as a key driver behind its sustainability strategy. These meters are useful as utilities work on limited resources to mitigate increasing demand resulting from smart city projects, such as NEOM and the Red Sea. The segment creates growth opportunities for the company as it innovates in niche spaces beyond electricity, diversifies the portfolio, and enhances the company's long-term market penetration.

Western Region is expected to grow with the highest CAGR in the market during the forecast period (2025-2033)

The western region, with major cities such as Jeddah, Makkah, and Madinah, is emerging as a special growth area for smart meters. Rapid urbanization, increasing electricity demand, and the establishment of large-scale projects, including NEOM and the Red Sea Development, are contributing to the country's growing adoption. In this case, utilities are focusing on smart metering to enhance grid stability, minimize losses, and achieve other benefits within smart city ecosystems. This region presents numerous growth opportunities due to its growth potential, coupled with population growth, as well as the government's efforts to transform it into a global tourist and business hub.

Saudi Arabia Smart Meters Industry Competitive Landscape

The Saudi Arabia Smart Meters market is competitive, with several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions.

Top Saudi Arabia Smart Meters Companies

Some of the major players in the market are alfanar Group, Energy Care Company (Energy Care Holding Group), Saudi Meters Company, SAMI Advanced Electronics, Saudi Smart Electronic Company (Riyadh Valley Company (RVC)), System House Factory for Electric Panels Co., Technical Meter Factory, MEMF ELECTRICAL INDUSTRIES CO. (KFB Group), Modern Times Technical Systems, Schneider Electric.

Recent Developments in the Saudi Arabia Smart Meters Market

• 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.

• On December 16, 2024, Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz inaugurated the 12th Saudi Smart Grid Conference and Exhibition in Riyadh.

  • Held under the theme “Energy and Sustainability,” the event focuses on renewable energy integration, grid standards, energy efficiency, and storage innovations. In his remarks, the minister highlighted the pivotal role of smart grid technologies in advancing the energy transition, underscoring how smart meters, automation, and modern communication systems are shaping electricity production, transmission, and consumption in the Kingdom.

Saudi Arabia Smart Meters Market Report Coverage

Reasons to Buy the Saudi Arabia Smart Meters Market Report:

• The study includes market sizing and forecasting analysis confirmed by authenticated key industry experts.

• The report briefly reviews overall industry performance at a glance.

• The report covers an in-depth analysis of prominent industry peers, primarily focusing on key business financials, type portfolios, expansion strategies, and recent developments.

• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

• The study comprehensively covers the market across different segments.

Customization Options:

The Saudi Arabia Smart Meters Market can further be customized as per requirements or any other market segment. Besides this, UnivDatos understands that you may have your own business needs; hence, feel free to contact us to get a report that completely suits your requirements.