Schneider records 12% revenue growth in GCC
Schneider Electric, a global leader in energy management and automation, has registered revenue growth of 12 per cent over the last three years in the Gulf countries and Pakistan (without Saudi Arabia),
Schneider Electric, a global leader in energy management and automation, has registered revenue growth of 12 per cent over the last three years in the Gulf countries and Pakistan (without Saudi Arabia), driven largely by technology investments and infrastructure developments in the region.
As the region pushes to diversify and reduce dependence on oil revenues, its governments are increasingly turning to technology to efficiently boost industrial capacities. According to the 2016 GCC Market Analysis Report by IRENA, regional energy consumption in the 2000s grew at an average of 5% per annum, faster than India, China and Brazil.
Currently, Saudi Arabia is the world's seventh largest consumer of oil, with domestic consumption levels rising from 17% of production in 2000 to 28% in 2014. As a result of this energy squeeze in the region, GCC nations are increasingly devising strategies to conserve natural resources, reduce energy consumption and diversify the energy mix to include renewables.
This ties in with the innovation that drives Schneider Electric's commitment in the region to help create greener, safer and interconnected spaces for local communities.
Speaking on the company's regional outlook, Benoit Dubarle, President - Gulf Countries and Pakistan, said: "There is an urgent need for change in the way we perceive and understand energy needs in the region. As a company involved in enabling this transition, Schneider Electric is well-positioned to address the GCC's unique energy challenges through our tried and tested innovative solutions for energy management. We are poised to continue the same growth momemtum as we identify new regional opportunities in the coming years."
Riding the wave of its regional success and market opportunities on the horizon, Schneider Electric is set to host the fourth edition of its flagship event Power to the Cloud in Dubai. Scheduled to be held on 17 and 18 April at Dubai International Convention and Exhibition Centre, this smart-solutions-focused event is the largest of its kind in the Middle East & Africa region. Schneider Electric will display its latest IoT-powered smart solutions through engaging simulations that will be on display across a 5,000 square meter experiential zone.
H.E Saeed Al Tayer, Chairman of Dubai Electricity and Water Authority (DEWA) will present the keynote address at the event, which is set to convene over 2,000 visitors, more than 200 VIPs, key customers and C-suite decision makers. The event will also be headlined by Wesam Lootah, CEO of Dubai Smart Government and Dr. Rashed Al Leem, Chairman of Sharjah Electricity and Water Authority (SEWA).
Benoit Dubarle added: "Given the development trajectory of the GCC cities, we remain committed to contributing to urban efficiency with our expertise in smart solutions and automation technologies. To demonstrate these offerings to a range of flourishing industries, we are excited to host our fourth edititon of Power to the Cloud this year. With the advent of Internet of Things (IoT) and the critical energy challenges highlighted at the recent COP21 conference, the event comes at a critical time. We at Schneider Electric are equally keen to enhance the knowledge-base and skillset in the Gulf region through trainings and awareness-building. Power to the Cloud is one such platform that will showcase our offerings, educate audiences, and foster a culture of dialogue on key issues."
Since its inception in 2012, Power to the Cloud has come to represent Schneider Electric's commitment to technology advances, energy and urban efficiency. The event enhances brand awareness of the company's integrated solution capabilities in technology and its applications across several industries such as infrastructure, IT, energy and utilities. The 2014 edition of Power to the Cloud attracted over 1,600 industry professionals and several high-profile customers including Department of Transport, Masdar City, RTA, DEWA and Dubai Municipality.