Overview
The global utility
communication market size is expected to be valued at USD 23,699.9 million
by 2023 with a CAGR of 15.50% during the forecast period (2018–2023). The
report covers segmentation and the market dynamics for a better glimpse of the
market in the coming years. The utility communication is the groundwork for
two-way communication between the utility and the end-users through all the
data points deployed across the network. Utility communication helps monitor
and control grid equipment, measures electric network performance, and delivers
information in real-time to control centers. The attention to utility
communications due to an increase in investments by utilities in modernizing
their network in order to meet the demand for reliable power are projected to
drive the utility communication market in the coming years.
Segmental Overview
The Utility
Communications Market Analysis by technology type, utility type and end-use in
the regions of North America, Europe, APAC and Rest of the World. The segments,
on the basis of technology type, include wired communication (Power line
carrier, Optic fiber, Ethernet), and Wireless communication (RF Mesh, Mobile
Network). The power line carrier (PLC) technology sub segment, within the wired
technology segment, is expected to hold the largest share of the utility
communication market, by technology, during the forecast period. The RF mesh
technology sub segment, within the wireless technology segment, is expected to
hold the largest share of the utility communication market, by technology,
during the forecast period. On the basis of utility type the segments are Power
Generation & Transmission, Natural Gas, Water and Sewage, Oilfield
Communications. Whereas, Asia-Pacific has been found to be the largest market
for utility communications, closely followed by North America.
Leading Players
We recognize the
key players in the global utility communications market as The key players of global utility
communications markets are General Electric (U.S.) , Siemens AG(Germany), ABB,
Ltd.( Switzerland), Schneider Electric SE (France) Motorola Solutions,
Inc.(U.S.), Omicron Electronics GmbH (Austria), Digi International, Inc.(U.S.),
Milsoft Utility Solutions, Inc.(U.S.), Cisco Systems, Inc.(U.S.) and RAD Data
Communications Ltd.(Israel)
Regional Outlook
Region wise,
Asia-Pacific held the largest market share of the global utility communication
market in 2017. It is estimated that Asia-Pacific would be the fastest growing
market during the forecast period, mainly due to the increasing power
generation capacities, growing manufacturing activities, and urbanization.
Europe is expected to be the second largest market during the forecast period
due to new technological developments in utility communication network which
are the primary driving factors leading the utility communication market in
Europe. According to the European Commission, USD 22.42 billion has been funded
by the European Regional Development Fund (ERDF) and Cohesion Fund for ICT
investments during the period, 2014–2020, with an anticipated additional
investment of up to USD 280.13 billion for the period 2014–2020. Increasing
investment in ICT would increase the demand for products under utility communication.
Therefore, rising investment and moving trend towards digitalization would
drive the utility communication market in Europe.
About Market Research Future:
At
Market Research Future (MRFR), we enable our customers to unravel the
complexity of various industries through our Cooked Research Report (CRR),
Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed
Research (CFR), and Market Research & Consulting Services.
NOTE:
Our Team of Researchers are Studying Covid19 and its Impact on Various Industry
Verticals and wherever required we will be considering Covid19 Footprints for
Better Analysis of Market and Industries. Cordially get in Touch for More
Details.
No comments:
Post a Comment