Press release
Utility Asset Management Market 2019 -ABB Ltd, Siemens AG, General Electric Company, S & C Electric Company, Sentient Energy
Utility asset management is extensively used in the private and public sectors in a variety of ways. It is a systematic process for cost effectively operating, maintaining and upgrading electrical assets. Market Research Future has produced new research for the global utility asset management market which projects considerable growth over the forecast period of 2017 to 2023. Predicted to grow at a CAGR of 8% during the forecast period, the global utility asset management market is primarily driven by the deregulation of the electricity industry.
The deregulation of the electricity industry has led to the development of new technologies for cost effective power transmission. Implementing these new technologies and methods for transmission & distribution are key activities being pursued by utilities. Moreover, urbanization in emerging economies has led to an increased demand for electricity which in turn has prompted electrical utilities to provide grid extensions. Utility asset management allow electric utilities to maintain profitability by providing assistance in fulfilling strategic goals. Reduced costs of electricity, high environmental standards, improved service qualities and improved safety measures for employees and equipment are all products of utility asset management. Asset strengthening and re-engineering processes are also expected to drive the market as electric utility companies strive to incorporate the latest in technology to save costs and achieve long lasting profitability. Old grid networks are being upgraded and there is a rising investment in distributed generation which is expected to drive the market with significant growth over the forecast period.
Access Report @ https://www.marketresearchfuture.com/reports/utility-asset-management-market-5389
Market Segmentation
MRFR's segmental analysis of the global utility assent management market is segmented on the basis of application, component, utility type, and region. By application, the market is segmented to include transmission & distribution lines, substation, and transformer. Among these, the substation segment will dominate the market due to the rising urbanization which has increased the need for distribution substations.
By component, the market is divided between hardware, and software. Between these, the hardware segment accounted for the most significant segment as they are used extensively in various forms such as sensors for the management of various utility assets.
By utility type, the market is categorized into private utility and public utility. The public utility segment dominates the market and is expected to grow at the highest CAGR as they are government funded and have a massive consumer base, thus increasing investments are made in these particular type of utility.
Regional Analysis
The Asia Pacific is a significant regional market segment due to grow at the highest CAGR during the assessment period. China accounts for the leading country in the APAC market, and is followed by India and Japan. The presence of a sizeable consumer population which is ever-growing has resulted in a tremendous demand for energy which has in turn, created the need for electrical infrastructure. High investments in advanced electrical utilities infrastructure drive the market. Moreover, the governments of these region are committed toward converting several prominent cities in the region into smart cities, thus increasing investments in advanced metering and other electricity technologies, thus increasing growth of the utility asset management market.
Key Players
Notable market players who are innovating, and providing the market with opportunities for growth while maintaining lead positions include Lindsey Manufacturing Co., S & C Electric Company, Cniguard Ltd., ABB Ltd., Vaisala OYJ, Siemens AG, Aclara Technologies LLC, Sentient Energy, Inc., Enetics Inc., General Electric Company, Emerson Electric Co., and Netcontrol Oy. MRFR has extensively recorded the competitive strategies used by these players in order to offer a comprehensive view of the global utility asset management market.
Request to view Sample Report:
https://www.marketresearchfuture.com/sample_request/5389
Latest Industry News
Swank Capital and Cushing Asset Management have announced that rebalancing of the Cushing Utility Index will be a part of normal index operations and index changes will become effective in October
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.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Contact:
Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Utility Asset Management Market 2019 -ABB Ltd, Siemens AG, General Electric Company, S & C Electric Company, Sentient Energy here
News-ID: 1596604 • Views: …
More Releases from Market Research Future
Hydrofluoric Acid Market (CAGR) of 4%, Innovation Imperative Future Proofing You …
Hydrofluoric acid (HF) is a crucial chemical compound with a wide range of applications across various industries. Despite its hazardous nature, it plays an essential role in manufacturing processes, especially in the production of fluorine compounds. The global hydrofluoric acid market has been witnessing steady growth, driven by demand from end-user industries such as oil refining, pharmaceuticals, and electronics.
The Hydrodesulfurization Catalysts Market is projected to register a CAGR of over…
Palm Methyl Ester Derivative Market Size Projected to Grow at 5.92% CAGR, Reachi …
In recent years, the global market for palm methyl ester derivatives has witnessed significant growth, driven by various factors including environmental concerns, technological advancements, and the increasing demand for sustainable alternatives in various industries. Palm methyl ester derivatives, derived from palm oil, have emerged as versatile ingredients with applications spanning across sectors such as cosmetics, pharmaceuticals, lubricants, and more.
The Palm Methyl Ester Derivative Market Size was valued at USD 1.5…
Asia-Pacific Ceramic Tiles Market to Register Highest CAGR Growth of 7.50% by 20 …
The Asia-Pacific ceramic tiles market has been witnessing robust growth, driven by various factors such as increasing investments in residential and commercial construction, renovation activities, and the growing preference for aesthetically pleasing and durable flooring solutions. Countries like China, India, Japan, and South Korea have been leading the market growth, supported by strong manufacturing capabilities, technological advancements, and evolving consumer preferences.
Asia-Pacific Ceramic Tiles Market Size was valued at USD 141.2…
APAC Wallpaper Market to Register Highest CAGR Growth of 8% by 2032: Analysis by …
The APAC wallpaper market has witnessed significant growth in recent years, driven by factors such as rising disposable incomes, expanding construction activities, and growing awareness regarding interior decor. Countries like China, India, Japan, South Korea, and Australia have emerged as key contributors to the region's wallpaper market. Additionally, the increasing adoption of innovative wallpaper designs and patterns is fueling market growth further.
APAC Wallpaper Market Size was valued at USD 0.55…
More Releases for Utility
Utility Communication Market
Global Utility Communication Market report from Global Insight Services is the single authoritative source of intelligence on Utility Communication Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters' and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types,…
Utility Location Services Market 2019 Development Opportunities and Key Players …
Global Utility Location Services Industry 2019-2025 Market Research Report explores an in-depth insight of Utility Location Services Market covering all important parameters including development trends, challenges, opportunities, key manufacturers and competitive analysis. The report includes the market volumes for Utility Location Services present and latest news and updates about the market situation. This in-depth market report, which is updated every year, provides all you need to know about the global…
Global Utility Scale Solar Market Size, Trends, Outlook and Forecast by 2023 – …
KD Market Insights has published a research report about Global Utility Scale Solar Market that envisions boost for this market with XX% CAGR (Compound Annual Growth Rate) for this market between 2018 and 2023. In terms of value, the market that is worth the USD XX million in 2017 is expected to be worth the USD XX million in 2023.
The market research report demonstrates market dynamics which includes growth drivers,…
Expecting Huge Growth for Global Utility Scale Solar Market 2019-2026 with top k …
QYReports features a new market study on the report, titled “Global Utility Scale Solar Market Professional Survey Report 2019,” provides in-depth insights into the key dynamics assessing the drivers and restraints, business prospects of key product and application segments, notable growth trends, and competitive analysis of leading vendors. The research report throws light on the size and share of key segments, product developments, and prospective growth opportunities in the near…
Utility Scale Solar Market Witness Highest Growth in near future| Leading Key Pl …
MarketResearchNest.com adds “Global and Chinese Utility Scale Solar Industry, 2018 Market Research Report” new report to its research database. The report spread across 141 pages with multiple tables and figures in it.
This report studies the Utility Scale Solar market with many aspects of the industry like the market size, market status, market trends and forecast, the report also provides brief information of the competitors and the specific growth opportunities with…
Electric Utility Survey Report: Utility Weather Forecasting and Data Usages
Macrosoft’s 2016 Utility Survey Report from 109 Electric Utility Executives
Utilities face a critical challenge when it comes to probing the accuracy of their weather forecasts. Macrosoft’s 2016 utility survey addressed these issues by answering valuable questions involving different weather forecasting practices, perceived satisfaction levels, usage of statistical data, and best practices.
The survey provided many insightful observations including:
1.80% of Utilities use an Outage Prediction model.
2.71% of Utilities don’t have a dedicated,…
