The Latin America, Middle East and Africa Digital Utility Market would witness market growth of 11.7% CAGR during the forecast period (2023-2030).
Smart grids facilitate demand response programs, where consumers can adjust their electricity usage based on real-time pricing or signals from the utility. This not only helps in balancing the grid during peak demand but also encourages energy conservation among consumers. Digital utility technologies in AMI allow utilities and consumers to monitor energy consumption in real-time. This promotes consumer awareness, encourages energy conservation, and provides utilities with accurate billing and grid planning data.
Digital utility technologies support the integration of distributed energy resources (DERs), including solar panels, wind turbines, and energy storage systems. These decentralized resources contribute to a more resilient and flexible energy infrastructure, reducing dependence on centralized power plants. Digital solutions enable the creation and management of microgrids and localized energy systems that can operate independently or connect to the main grid. Microgrids enhance energy reliability, particularly in remote areas or during grid outages. Buildings equipped with digital controls and energy storage can interact with the grid, adjusting their energy usage based on grid conditions. This demand-side management contributes to grid stability and optimization.
Saudi Arabia has launched ambitious national programs to increase the share of renewable energy in its energy mix. The deployment of smart meters allows consumers in Saudi Arabia to monitor their energy consumption in real time. This includes energy generated from renewable sources, providing consumers with insights into their contribution to sustainability in Saudi Arabia. The push for renewable energy in Saudi Arabia includes encouraging solar rooftop installations. Saudi Arabia has set ambitious renewable energy targets for its Vision 2030 plan. As renewable energy infrastructure becomes more digitalized, robust cybersecurity measures are implemented to protect against potential cyber threats in Saudi Arabia. Secure communication protocols, encryption, and continuous monitoring contribute to the overall security of the renewable energy ecosystem in Saudi Arabia. Thus, due to these aspects, the market will expand across the LAMEA region in upcoming years.
The Brazil market dominated the LAMEA Digital Utility Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $10,002.7 million by 2030. The Argentina market is exhibiting a CAGR of 12.5% during (2023 - 2030). Additionally, The UAE market experience a CAGR of 11.4% during (2023 - 2030).
Free Valuable Insights: The Worldwide Digital Utility Market is Projected to reach USD 380.9 Billion by 2030, at a CAGR of 10.2%
Based on Technology, the market is segmented into Hardware, and Integrated Solutions. Based on Network, the market is segmented into Generation, Transmission & Distribution, and Retail. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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