Press release
Utility Communication Market Expecting Huge Growth During 2020-2027 Focusing On Leading Players Like ABB Ltd,FUJITSU LIMITED,General Electric Company,Honeywell International Inc,OMICRON Electronics GmbH
Utility Communication Market
"The global utility communication market was valued US$ 10,730.4Mn in 2019 and is expected to reach US$ 35,138.1Mn by 2027 with a CAGR growth rate of 16.3% in the forecast period from 2020 to 2027."
Utility communication is a collection of technologies and tools used to organize various components of a complicated delivery system. It tracks and manages the grid facilities, tests network output, and provides information in real-time. Advancements in IT systems led to the creation of automated delivery networks for utilities (power, energy, etc.) to allow efficient operations of modern power systems. This communication network allows for the effective and well-regulated transfer of resources such as power.
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Top Key Players:-
1. ABB Ltd
2. FUJITSU LIMITED
3. General Electric Company
4. Honeywell International Inc
5. OMICRON Electronics GmbH
6. Rockwell Automation, Inc.
7. Schneider Electric SE
8. Siemens AG
9. Tejas Networks
10. Telefonaktiebolaget LM Ericsson
The utility communication network is a double-sided communication channel that connects various data points through the system. To prevent an environment of fractured communications networks, utilities across the world are investing heavily to develop the infrastructure for reliable communication. Its system supports demand response (DR), delivery automation (DA), and advanced metering system (AMI), powered by legislative mandates, government grants, and high energy inefficiency costs. The global market size for IoT is increasing significantly; this suggests that the scope of utility communication with respect to Industry 4.0 and IoT is rising.
The demand for utility communications is growing subsequently with the increasing development of technology as the utilities seek to follow a progressive mode of data transmission. The utility connectivity deals mainly with data transmission and networking technologies. However, data privacy issues might hamper the market growth during the forecast period.
The report segments the global Utility Communication market as follows:
Global Utility Communication Market - By Technology
o Wired
o Optical Fiber
o PLC
o Ethernet
o Others
o Wireless
Global Utility Communication Market - By Utility Type
o Private Utility
o Public Utility
Most countries focus on introducing advanced metering infrastructure (AMI), which involves the installation and usage of smart meters and other electronic devices that allow for two-way communication and data transmission between end users and utilities. The move from conventional metes to smart meters is driven by factors such as incorrect billing, theft and power misuse, late payments, and meter reading costs.
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The Insight Partners,
Phone: +1-646-491-9876
Email: sales@theinsightpartners.com
About Us:
The Insight Partners is a one-stop industry research provider of actionable intelligence. We help clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Electronics and Semiconductor s, Pharmaceuticals, Chemicals and Materials, Automotive and Transportation, Aerospace and Defense, Electronics and Semiconductors, Technology, Media, and telecommunication, Manufacturing and Construction.
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