Press release
Utility Asset Management Market World-Wide Industry Trends, Entry Strategies, Regulatory Frameworks and Technologies till 2028, Fortune Business Insights
The global utility asset management market size stood at $3.31 Bn in 2019 and is anticipated to attain $6.20 Bn by 2027, at a CAGR of 8.5% in the forecast period.
What Does This Report Contain?
Elaborate data about the segments in the market.
Historical, present, and estimated sizes of the market.
Profiles of prominent players and their crucial strategies.
Analysis of the drivers & obstacles in the market for utility asset management.
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A list of all the prominent utility asset management solution providers in the global market:
GE (United States)
ABB (Switzerland)
Eaton (Ireland)
Siemens (Germany)
DNV GL (Norway)
Aclara Technologies (United States)
IBM (United States)
Sentient Energy (United States)
Black & Veatch (United States)
Schneider Electric (France)
IFS (Sweden)
Getac (Taiwan)
Lindsey Manufacturing Company (United States)
Fujitsu (Japan)
Drivers & Restraints-
Increasing Number of Residential & Commercial Infrastructures to Aid Growth
The rising consumption of energy backed by the increasing number of commercial and residential infrastructures worldwide is set to augment the utility asset management market growth in the coming years. Apart from that, there has been a rapid surge in the deployment of various novel power generation techniques that are capable of fulfilling the growing demand for energy. However, unavailability of skilled workers with the correct technical knowledge for installation of complicated hardware and equipment may lower the demand for utility asset management.
Segment-
Software Segment to Grow Steadily Fueled by Rising Concerns of Combat Mounting Issues
Based on components, the software segment generated 46.2% in terms of utility asset management market share. It is anticipated to exhibit considerable growth throughout the forthcoming years because of the rising concerns associated with combat mounting and diagnosing problems across several electricity networks.
Regional Analysis-
Rising Utility Expenditure to Bolster Growth in North America
Geographically, North America generated USD 1.09 billion in terms of revenue in 2019. It is set to retain its dominant position in the coming years on account of the presence of favorable regulatory policies in the region. At the same time, the rising utility expenditure, positive green energy outlook, and presence of multiple reputed utility asset management companies in the region would favor growth. Europe, on the other hand, is set to showcase substantial growth in the near future stoked by the increasing financial support from regulatory bodies to reduce emissions.
Competitive Landscape-
Key Players Focus on Partnership Strategy to Develop Utility Asset Management Solutions
The market for utility asset management is highly fragmented with the presence of numerous renowned companies. Most of them are adopting the strategy of partnerships and collaborations to co-develop unique utility asset management solutions. Some of the others are trying to enhance their product offerings by purchasing domestic companies. Below are two industrial developments:
August 2020: Emerson Electric is planning to buy Open Systems International, Inc. (OSI Inc.) worth USD 1.6 billion. This development would help the former to include OSI's product portfolio in its existing lines for accelerating digitization.
August 2020: Nokia and LS ELECTRIC signed an agreement to team up for developing analytics and intelligence-based platforms. These will be used to evaluate the performance of utility assets.
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Market Segmentation:
1. By Type
Public Utility
Private Utility
2. By Component
Hardware
Software
Services
3. By Application
Transformers
Substations
Transmission & Distribution Lines
4. By Geography
North America (United States and Canada)
Europe (United Kingdom, Germany, France, Italy, Spain, Russia, and Rest of Europe)
Asia Pacific (China, India, Japan, Australia, Southeast Asia, and Rest of Asia Pacific)
Middle East & Africa (GCC, South Africa, and Rest of the Middle East & Africa)
Latin America (Brazil, Mexico, and Rest of Latin America)
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Table of Content:
Introduction
Research Scope
Market Segmentation
Research Methodology
Definitions and Assumptions
Executive Summary
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Key Insights
Key Emerging Trends - For Major Countries
Latest Technological Advancement
Insights on Regulatory Scenario
Industry SWOT Analysis
Porters Five Forces Analysis
Qualitative Analysis - Impact of COVID-19
Impact of COVID-19 on the Utility Asset Management Market
Steps Taken by the Government to Overcome the Impact
Key Developments by the Industry Players in Response to COVID-19
Potential Opportunities and Challenges due to COVID-19 Outbreak
Global Utility Asset Management Market Analysis (USD Billion), Insights and Forecast, 2016-2027
Key Findings / Summary
Market Analysis, Insights and Forecast - By Type
Public Utility
Private Utility
Market Analysis, Insights and Forecast - By Component
Hardware
Software
Services
Market Analysis, Insights and Forecast - By Application
Transformers
Substations
Transmission & Distribution Lines
Market Analysis, Insights and Forecast - By Region
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
North America Utility Asset Management Market Analysis (USD Billion), Insights and Forecast, 2016-2027
Key Findings / Summary
Market Analysis, Insights and Forecast - By Type
Public Utility
Private Utility
Market Analysis, Insights and Forecast - By Component
Hardware
Software
Services
Market Analysis, Insights and Forecast - By Application
Transformers
Substations
Transmission & Distribution Lines
Market Analysis, Insights and Forecast - By Country
United States Market Analysis, Insights and Forecast - By Type
Public Utility
Private Utility
Canada Market Analysis, Insights and Forecast - By Type
Public Utility
Private Utility
Continued …
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Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
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