Press release
Utility Communication Market Size, Share and Trends Analysis Report by Type, By Application, And Segment Forecasts to 2027
Utility Communication Market
The increased use of smart grids and mobile devices and escalating the demand for personalized communication networks due to modifications in billing process are among the factors driving the utility communication market worldwide. However, vulnerability to cyber-attacks may restrain the future growth of utility communication market. Despite these limitations, increasing investments in smart communication infrastructure by utilities is anticipated to offer ample growth opportunities for the utility communication market during the forecast period.
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The List of Companies -
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
At present, the utility communication is facing an increasingly changing operating environment with the mounting economic risks and operational problems, along with rising consumer expectations from their utilities. Meanwhile, technological advancements make it simpler and cheaper to implement utility networking. Sophisticated IT and analytics systems are expected to exploit the data accessible by connected devices in order to enhance grid stability, health, durability, and operational efficiency, and the improvements in these all uplift the return on networking investment by the utilities. Thus, the business model for utility communication is evolving with time, and connectivity is likely to be a critical foundational element in this process with the escalating importance of digitization.
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The market for utility communication has been segmented into technology, utility type, and geography. The utility communication market, based on technology, is sub-segmented into wired and wireless. The wired segment is expected to hold the prime market share in the utility communication market during the forecast period. The utility communication market, based on utility type, is further segmented into private and public. The public utility type led the utility communication market and is anticipated to continue its dominance during the forecast period. The utility communication market is segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). APAC held the lion's share in 2019 and is expected to continue its dominance till 2027.
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