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Utility Communication Market to Outstrip $ 35,138.1 million by 2027 Growing Sturdy at 16.3% CAGR - Global Analysis by TheInsightPartners.com

10-20-2021 05:19 PM CET | IT, New Media & Software

Press release from: The Insight Partners

/ PR Agency: The Insight Partners
The Insight Partners

The Insight Partners

Utility communication is a communication network that can ensure the continuous transmission of voice, data, and video through LANs and WANs, not only in a safe but also consistent and efficient manner. It is the groundwork on which contact between the utility's data points can take place. Some of the most commonly used systems are Ethernet network control and data collection, SCADA, and smart grid control. Individuals and companies alike are welcoming the digital transition. Digital transformation can be described as the use of technology to enhance company efficiency or scope. Digital technologies and social networks are increasingly being used nowadays to improve interaction between government, corporations, civil society, friends, and family.

The utility communication market was valued at US$ 10,730.4 million in 2019 and is projected to reach US$ 35,138.1 million by 2027; it is expected to grow at a CAGR of 16.3% during 2020–2027.

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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. 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.

Further, surge in renewable energy generation and distributed capital has resulted in the rapid growth of utility communication systems. 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.

The List of Companies - Global Utility Communication Market

ABB Ltd
FUJITSU LIMITED
General Electric Company
Honeywell International Inc
OMICRON Electronics GmbH
Rockwell Automation, Inc.
Schneider Electric SE
Siemens AG
Tejas Networks
Telefonaktiebolaget LM Ericsson

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The Insight Partners is a one stop industry research provider of actionable solutions. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are specialists in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical devices, Technology, Media and Telecommunications, Chemicals and Materials.

Our research model is very simple. We believe in client servicing and delivering best quality to our customers. Through our research content, we are making sure that our customers get the value of their money along with better quality data and analysis.

Our research content is majorly focused on market trends in terms of market sizing, competitive landscaping, company analysis, regional or country analysis etc. We provide a detailed break-up of segmentation in terms of geography, technology, product and services etc.; which helps our clients to get deeper analysis on various research topics.

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