The global Utility Communication Market is projected to grow from USD 20.2 billion in 2022 to USD 26.1 billion by 2027, at a CAGR of 5.3% according to a new report by MarketsandMarkets™. The Utility Communication Market has promising growth. Growing investment in smart grids; the need for improving grid reliability and operating efficiency and reducing outage length; rising technological advancements in communication technologies; and the need for IoT integration in the operations of the oil & gas industry are driving the growth of the market.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=79991490
The wired segment is expected to dominate the Utility Communication Market, by technology, during the forecast period.
The wired segment holds the largest share of the Utility Communication Market. The market for wired communication technologies is mainly driven by the advantages offered by them, such as increased security, lack of interference, and high-speed data transmission.
The public segment is expected to be the fastest growing Utility Communication Market, by utility, during the forecast period.
The Utility Communication Market, by utility, is divided into public and private, wherein the public segment accounts for the largest share, owing to being much more accountable and transparent, operate efficiently by keeping costs down, and deliver reliable power supply.
The Asia Pacific region is the fastest growing Utility Communication Market
In this report, the Utility Communication Market has been analyzed for five regions, namely, North America, Europe, Asia Pacific, South America and Middle East & Africa. Asia Pacific is a significant contributor to the Utility Communication Market in the current scenario owing to the investments in infrastructure modifications.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=79991490
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Utility Communication Market.
Some of the key players include Hitachi Energy Ltd (Switzerland), Schneider Electric (France), Siemens (Germany), General Electric (US), and Motorola Solutions, Inc. (US). The leading players are adopting various strategies to increase their share in the Utility Communication Market.
About MarketsandMarkets™:
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Content Source: https://www.marketsandmarkets.com/PressReleases/utility-communication.asp
Utility Communication Market report published by Value Market Research, which studies the future outlook of the market.
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2019-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the Utility Communication include General Electric, Cisco Systems, Inc., Siemens AG, Milsoft Utility Solutions, Inc., ABB, Ltd., Motorola Solutions, Inc., Schneider Electric SE, RAD Data Communications Ltd, and Omicron Electronics GmbH..
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Utility Communication Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/utility-communication-market/download-sampleMarket SegmentationThe broad Utility Communication has been sub-grouped into the Technology Type, Utility Type and Region.
The report studies these subsets with respect to the geographical segmentation.
The strategists can gain a detailed insight and devise appropriate strategies to target specific market.
The concerned operators converse with each other to synchronize actions and exchange various kinds of information.
In brief, the communications networks facilitate power utilities to keep the electricity flowing smoothly throughout the route from the generators to the consumers.
Among both the types mentioned, the sub segment of RF mesh technology is currently leading the market, the reason being modernization of aging infrastructure in various developed countries.
Among these, the sub segment of power line carrier (PLC) technology has been dominating the market since few years.
This particular technology performs a vital role in modern communication networks because it performs the function of transferring electrical data at a faster rate via T systems.
As far as the geography is concerned, Asia-Pacific is currently deemed as the leader of the market and it is anticipated that the region will continue dominating the global utility communication market, the reason being augmentation in the count of smart grid and smart cities projects in countries like Australia, India, China, Japan, and South Korea.
