LG Electronics is strengthening its foothold as a pioneering provider of smart energy solutions in the Middle East and African (MEA) market.
According to Mordor Intelligence, a global market research company, the energy management system market in the MEA region is expected to grow at an annual rate of 11.87% to reach $3.76 billion by 2021. As such, continuous research and development of efficient energy management policy is undergoing in government and international organization-scale in the MEA region.
In particular, members of the Gulf Cooperation Council are increasing investment in energy infrastructure by utilising smart grid, Dubai, Abu Dhabi and Saudi Arabia have all announced energy policies up until 2030 to maximise energy efficiency. Africa is not an exception.
According to the International Renewable Energy Agency, energy demand in Africa is expected to increase two-fold by 2030, while United Nations Environment Programme analysed that in regions like Africa where energy access is restricted, efficient energy management is significant in times where demand skyrockets.
In tropical climates like the MEA, where the temperature goes high as 50°C, the key to smart energy management is in heating, ventilation, and air conditioning (HVAC) solutions. Representatively in Saudi Arabia, 70% of energy consumption is used in cooling compared to 48% in Europe.
LG also provides smart energy management with its BECON (Building Energy Control) Cloud Solution, an IoT-based platform. Through numerous sensors in the BECON Cloud, remote real-time monitoring, energy efficiency management, and energy saving is possible.
Expanding into the smart energy business with its technologies in HVAC solution, LG’s capabilities have been demonstrated in Korea’s LG Science Park, a world-class R&D complex with an area of around 175,207m2.
LG Electronics Middle East and Africa President James Lee said starting from 2020, the MEA region would be welcoming key momenta with numerous international events and government-led construction projects that can lead to high demand in energy solutions.
“With LG’s smart energy solutions that can maximise energy efficiency, we will contribute to the changeover of MEA cities to become intelligent,” he said.―The News Tribe