Utility Communication Market Forecasts to 2028 – Global Analysis By Technology (Wireless Technology, Wired Technology), Application (T&D, Oil & Gas Network), End User (Commercial, Residential, Industrial) and By Geography
According to Stratistics MRC, the Global Utility Communication Market is accounted for $17.87 billion in 2020 and is expected to reach $29.36 billion by 2028 growing at a CAGR of 6.4% during the forecast period. Growing investment in smart grids and modernization of electricity networks and changing utility billing systems are driving the market growth. However, high initial investments are hampering the growth of the market.
Utility communication is a set of technologies and devices used to coordinate various parts of a complicated utilities distribution system. It monitors & controls grid equipment, measures network performance, and delivers real-time information. Efficient transfer of utilities such as power or gas is well-regulated by utility communication
Based on the application, the transmission & distribution (T&D) segment is going to have lucrative growth during the forecast period due to the increasing demand for electricity and replacement of aging power infrastructure is expected to drive the market. T&D operators depend on automatic systems to monitor and detect faults in their electrical networks and equipment. Many utility operators focus on maximizing investment in communication networks while ensuring reliable, secure data transmission. By geography, Europe is going to have high growth during the forecast period due to this region has the latest technological innovations in the utility communication network, significant investments, and effective digital global economy.
Some of the key players profiled in the Utility Communication Market include Schneider Electric, General Electric, Rockwell Automation, ABB, Toshiba, Metso Corporation, Honeywell International Inc., Hitachi, Yokogawa, Azbil Corporation, Motorola Solutions, Inc., Omicron Electronics GmbH, Siemens AG, Nokia, Cisco Systems, Inc and Texas Instruments, Inc.
Estimated Market Size in 2020:
USD 17.87 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 29.36 billion
Tables, Graphs& Figures
Component, Technology, Application, Utility Type, End User and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Wireless Technology
• Wired Technology
• Transmission & Distribution (T&D)
• Oil & Gas Network
Utility Types Covered:
End Users Covered:
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Utility Communication Market is majorly driven by growing investment in smart grids and modernization of electricity networks, consolidating trend of digitalizing oilfield communication and government initiatives to support deployment of smart grid technologies.
The public segment is growing at a highest CAGR owing to tailor utility policies, programs, and practices to serve the priorities of the local community.
North America dominated with a significant market share due to the factors such as integration of advanced technologies with business processes, organization, and geographies are mandatory future of oil & gas related developments with efficient production of current reserves.
Europe market is growing at a highest CAGR due to the region has the latest technological innovations in the utility communication network.
Key players in Utility Communication Market include Schneider Electric, General Electric, Rockwell Automation, ABB, Toshiba, Metso Corporation, Honeywell International Inc., Hitachi, Yokogawa, Azbil Corporation, Motorola Solutions, Inc., Omicron Electronics GmbH, Siemens AG, Nokia, Cisco Systems, Inc and Texas Instruments, Inc.
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