Press release
Utility Asset Management Market to Reach USD 7.34 Billion by 2030, Growing at a 9.95% CAGR
Utility Asset Management Market
๐๐ฆ๐ฉ๐๐๐ญ ๐จ๐ ๐๐๐๐๐-19 ๐จ๐ง ๐ญ๐ก๐ ๐๐๐ ๐๐๐ซ๐ค๐๐ญ
The outbreak of COVID-19 in late 2019 and its subsequent global spread in 2020 led to significant disruptions across various industries, including utility asset management. Lockdowns, work stoppages, and other restrictions impacted market dynamics, resulting in a lower growth rate for 2021 compared to previous years. However, as the pandemic's effects began to subside and economic activities resumed, the UAM market showed signs of recovery. By the end of 2022, with the global situation under better control, the market is expected to regain momentum and continue its growth trajectory through 2029.
๐๐ญ๐ข๐ฅ๐ข๐ญ๐ฒ ๐๐ฌ๐ฌ๐๐ญ ๐๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐ฑ๐ฉ๐๐๐ญ๐๐ ๐๐๐ฏ๐๐ง๐ฎ๐ ๐๐ซ๐จ๐ฐ๐ญ๐ก:
The global utility asset management (UAM) market is set to achieve a significant milestone, with projections indicating a market size of USD 7.34 billion by 2030. This growth trajectory, marked by a compound annual growth rate (CAGR) of 9.95%, reflects the increasing investments in smart grids and the modernization of utility infrastructure worldwide.
๐ ๐จ๐ซ ๐๐ง ๐ข๐ง-๐๐๐ฉ๐ญ๐ก ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ, ๐๐ฅ๐ข๐๐ค ๐ญ๐ก๐ ๐ฉ๐ซ๐จ๐ฏ๐ข๐๐๐ ๐ฅ๐ข๐ง๐ค: https://www.maximizemarketresearch.com/request-sample/1138/
๐๐ญ๐ข๐ฅ๐ข๐ญ๐ฒ ๐๐ฌ๐ฌ๐๐ญ ๐๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐จ๐ฐ๐ญ๐ก ๐จ๐ซ ๐๐๐ฆ๐๐ง๐ ๐๐ง๐๐ซ๐๐๐ฌ๐ ๐จ๐ซ ๐๐๐๐ซ๐๐๐ฌ๐ ๐๐จ๐ซ ๐ฐ๐ก๐๐ญ ๐๐จ๐ง๐ญ๐๐ข๐ง๐ฌ??
๐๐๐ซ๐ค๐๐ญ ๐๐ฒ๐ง๐๐ฆ๐ข๐๐ฌ
๐๐ซ๐จ๐ฐ๐ญ๐ก ๐๐ซ๐ข๐ฏ๐๐ซ๐ฌ
Utility asset management plays a crucial role in providing real-time data, offering a clear picture of equipment status, and minimizing the risk of failure through predictive and preventive maintenance. The growing investment in smart grids and the modernization of aging utility infrastructure are key drivers of market growth. Additionally, the focus on high ecological and occupational health standards, improved service quality, and enhanced safety measures for personnel and equipment are boosting the market.
๐๐ก๐๐ฅ๐ฅ๐๐ง๐ ๐๐ฌ
Despite the positive outlook, the market faces challenges, including a shortage of trained labor with the technical expertise required for installing complex hardware and equipment, which could hinder demand for UAM solutions.
๐๐ญ๐ข๐ฅ๐ข๐ญ๐ฒ ๐๐ฌ๐ฌ๐๐ญ ๐๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง
โฆ ๐๐ฒ ๐๐ญ๐ข๐ฅ๐ข๐ญ๐ฒ ๐๐ฒ๐ฉ๐
Public Utility
Private Utility
โฆ ๐๐ฒ ๐๐ฒ๐ฉ๐
Hardware
Software
๐๐ฒ๐ฉ๐ ๐๐๐ ๐ฆ๐๐ง๐ญ๐ฌ
By Type , the UAM market is classified into hardware and software. The hardware segment, which includes sensors providing data on various utility asset parameters such as voltage, current, heat, temperature, and frequency, dominated the market in 2023.
โฆ ๐๐ฒ ๐๐ฉ๐ฉ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง
Transformer
Sub-Station
Transmission & Distribution Lines
๐๐ฉ๐ฉ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง ๐๐๐ ๐ฆ๐๐ง๐ญ๐ฌ
The UAM market is segmented by applications into transformers, substations, and transmission & distribution lines. The substation segment is expected to dominate, driven by urbanization and the expansion of distribution substations globally. Meanwhile, the transformer segment is anticipated to grow at the highest CAGR during the forecast period, thanks to increasing investments in grid modernization, particularly in North America, Australia, India, and China.
๐๐ญ๐ข๐ฅ๐ข๐ญ๐ฒ ๐๐ฌ๐ฌ๐๐ญ ๐๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐๐จ๐ฉ๐ ๐๐ง๐ ๐๐๐ญ๐ก๐จ๐๐จ๐ฅ๐จ๐ ๐ฒ:
Market Report Utility Asset Management provides an elaborate examination of the Utility Asset Management commercial, where a study about Utility Asset Management markets and their segments is included. The data comes from primary as well as secondary research approaches. The variety of sources, including trade magazines, government publications, company websites, market assessments, industry reports, annual reports, and databases, are used to gather secondary data. The valuation of the Utility Asset Management market for Product and geographic segments is given based on current market trends and conditions. The most recent development in the industry and the future market overview give recognition to its recent advancements. It brings a deep analysis, including market size and forecast, trends, growth drivers as well as challenges faced by Utility Asset Management Market.
๐๐๐๐๐ฌ๐ฌ ๐๐จ๐ฎ๐ซ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ + ๐๐ข๐ฌ๐ฎ๐๐ฅ๐ฌ ๐๐จ๐ฐ: https://www.maximizemarketresearch.com/request-sample/1138/
๐๐ญ๐ข๐ฅ๐ข๐ญ๐ฒ ๐๐ฌ๐ฌ๐๐ญ ๐๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐จ๐ฐ๐ญ๐ก ๐จ๐ซ ๐๐๐ฆ๐๐ง๐ ๐ข๐ง ๐ฐ๐ก๐ข๐๐ก ๐ซ๐๐ ๐ข๐จ๐ง๐ฌ??
The Asia Pacific region is expected to witness the highest CAGR during the forecast period, driven by developing economies such as China, Japan, and India. These countries are making substantial investments in grid modernization to meet the increasing energy demand. China, in particular, held the largest market share, followed by India and Japan. The Australian government is also investing in its transmission and distribution network to enhance energy efficiency.
๐๐๐๐๐ง๐ญ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ๐ฌ
In August 2021, Emerson Electric announced plans to acquire Open Systems International, Inc. (OSI Inc.) for USD 1.6 billion, aiming to integrate OSI's products into its existing lines to accelerate digitization. In August 2029, Nokia and LS ELECTRIC signed an agreement to develop analytics and intelligence-based platforms for evaluating utility asset performance, reflecting ongoing innovation and collaboration in the industry.
๐๐ญ๐ข๐ฅ๐ข๐ญ๐ฒ ๐๐ฌ๐ฌ๐๐ญ ๐๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ
1. Siemens AG
2. S&C Electric
3. ABB, Ltd.
4. Sentient Energy, Inc
5. Emerson Electric Co.
6. Enetics Inc.
7. Aclara Technologies LLC
8. CNIguard Limited
9. Emerson Electric Co.
10.Enetics, Inc.
11.General Electric Company
12.Hitachi ABB Power Grids Group
13.Lindsey Manufacturing Co.
14.Sentient Energy, Inc.
15.Vaisala Oyj
16.Netcontrol Oy
17.Eaton
18.DNV GL
19.IBM Corporation
20.Black & Veatch
21.Schneider Electric
22.Getac
23.Fujitsu
๐๐จ๐ง๐๐ฅ๐ฎ๐ฌ๐ข๐จ๐ง
The utility asset management market is on a strong growth path, driven by technological advancements, increasing investments in smart grids, and the modernization of utility infrastructure. With significant opportunities in the Asia Pacific region and continuous innovations by key players, the UAM market is set to achieve substantial growth, offering promising prospects for stakeholders and investors in the coming years.
๐๐๐๐๐ข๐ฏ๐ ๐๐จ๐ฎ๐ซ ๐ ๐ซ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ ๐ฐ๐ข๐ญ๐ก ๐๐๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ: https://www.maximizemarketresearch.com/market-report/global-utility-asset-management-market/1138/
๐๐๐ฒ ๐ช๐ฎ๐๐ฌ๐ญ๐ข๐จ๐ง๐ฌ ๐๐ง๐ฌ๐ฐ๐๐ซ๐๐ ๐ข๐ง ๐ญ๐ก๐ ๐๐ญ๐ข๐ฅ๐ข๐ญ๐ฒ ๐๐ฌ๐ฌ๐๐ญ ๐๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐:
What is Utility Asset Management?
What is the growth rate of the Utility Asset Management Market?
Which are the factors expected to drive the Utility Asset Management market growth?
What are the different segments of the Utility Asset Management Market?
What growth strategies are the players considering to increase their presence in Utility Asset Management?
What are the upcoming industry applications and trends for the Utility Asset Management Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Utility Asset Management Market?
Who are the leading companies and what are their portfolios in Utility Asset Management Market?
What segments are covered in the Utility Asset Management Market?
Who are the key players in the Utility Asset Management market?
๐๐๐ฒ ๐๐๐๐๐ซ๐ข๐ง๐ ๐ฌ:
Market Size, Share, Size & Forecast by different segment
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation - A detailed analysis by segment with their sub-segments and Region
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
๐๐ซ๐จ๐ฐ๐ฌ๐ ๐๐๐๐ข๐ญ๐ข๐จ๐ง๐๐ฅ ๐๐๐ฒ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ก๐๐ฆ๐๐ฌ:
โฃ Global Spine Surgery Robots Market https://www.maximizemarketresearch.com/market-report/global-spine-surgery-robots-market/36355/
โฃ Asia Pacific Data Center Colocation Market https://www.maximizemarketresearch.com/market-report/asia-pacific-cata-center-colocation-market/7791/
โฃ Global Dental Sterilization Devices Market https://www.maximizemarketresearch.com/market-report/global-dental-sterilization-devices-market/10886/
โฃ Scoop Stretchers Market https://www.maximizemarketresearch.com/market-report/global-scoop-stretchers-market/84289/
โฃ United States Emergency Lighting Market https://www.maximizemarketresearch.com/market-report/united-states-emergency-lighting-market/112286/
โฃ Energy Efficient Lamps and Ballasts Market https://www.maximizemarketresearch.com/market-report/global-energy-efficient-lamps-and-ballasts-market/42602/
โฃ Global Chip Power Inductor Market https://www.maximizemarketresearch.com/market-report/global-chip-power-inductor-market/86947/
โฃ Global Alcohol Sensor Market https://www.maximizemarketresearch.com/market-report/global-alcohol-sensor-market/65133/
โฃ Global Collaboration Display Market https://www.maximizemarketresearch.com/market-report/global-collaboration-display-market/94959/
โฃ Global Fluorescent Lighting Market https://www.maximizemarketresearch.com/market-report/global-fluorescent-lighting-market/63458/
๐๐ฎ๐ซ ๐๐๐๐ซ๐๐ฌ๐ฌ:
MAXIMIZE MARKET RESEARCH PVT. LTD.
โฎ 3rd Floor, Navale IT park Phase 2,
Pune Banglore Highway, Narhe
Pune, Maharashtra 411041, India.
โ +91 9607365656
๐ sales@maximizemarketresearch.com
๐ www.maximizemarketresearch.com
๐๐๐จ๐ฎ๐ญ ๐๐๐ฑ๐ข๐ฆ๐ข๐ณ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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 to Reach USD 7.34 Billion by 2030, Growing at a 9.95% CAGR here
News-ID: 3577986 • Views: โฆ
More Releases from MAXIMIZE MARKET RESEARCH PVT. LTD.
Bangladesh Ceramics Tiles Market to Surpass USD 2.1 Billion by 2030, Fueled by a โฆ
Bangladesh Ceramics Tiles Market size was valued at USD 882.56 Million in 2023 and the total Bangladesh Ceramics Tiles Market revenue is expected to grow at a CAGR of 13.71 % from 2024 to 2030, reaching nearly USD 2169.38 Million.
Bangladesh Ceramics Tiles Market Overview:
The Bangladesh ceramics tiles market is a vital component of the country's construction and building materials industry, driven by rapid urbanization, infrastructure development, and rising disposable incomes.โฆ
Furfural Market to Reach Nearly USD 1 Trillion by 2030, Propelled by a 6.8% CAGR
Furfural Market size was valued at USD 630.2Mn in 2023. The Furfural Market revenue is growing at a CAGR of 6.8 % from 2023 to 2029, reaching nearly USD 998.30 Bn by 2030.
Furfural Market Overview:
The furfural market is centered around an organic compound derived primarily from agricultural byproducts such as corn cobs, sugarcane bagasse, and rice husks through a process of acid hydrolysis. As one of the oldest renewable chemicals,โฆ
Chemical Protective Clothing Market Valued at USD 1.57 Bn in 2024, Projected to โฆ
Chemical Protective Clothing Market size was valued at USD 1.57 Billion in 2024 and the total Chemical Protective Clothing revenue is expected to grow at a CAGR of 5.59% from 2025 to 2032, reaching nearly USD 2.42 Billion.
Chemical Protective Clothing Market Overview:
The Chemical Protective Clothing (CPC) market comprises garments and accessories specifically designed to shield workers from exposure to hazardous chemicals, liquids, and particulate matter across a wide range ofโฆ
Prefabricated Homes Market Valued at USD 18.58 Bn in 2024, Poised for 6.19% CAGR โฆ
Prefabricated Homes Market size was valued at USD 18.58 Billion in 2024 and the total Prefabricated Homes revenue is expected to grow at a CAGR of 6.19% from 2025 to 2032, reaching nearly USD 30.04 Billion.
Prefabricated Homes Market Overview:
The prefabricated homes market, also known as modular or off-site construction, involves the manufacturing of building components in a controlled factory environment before their assembly at the final location. This method revolutionizesโฆ
More Releases for Utility
Utility Scale Solar Market Size, Trends 2031 By Key Players- Suntech, JA Utility โฆ
๐๐๐, ๐๐๐ฐ ๐๐๐ซ๐ฌ๐๐ฒ: According to Verified Market Reports analysis, the global Utility Scale Solar Market size is reached a valuation of USD 53.01 Billion in 2023, with projections to achieve USD 250.41 Billion by 2031, demonstrating a ๐๐๐๐ 7.78% ๐๐ซ๐จ๐ฆ ๐๐๐๐ ๐ญ๐จ ๐๐๐๐.
The utility-scale solar market presents significant opportunities driven by the global push for renewable energy and decreasing technology costs. As governments worldwide aim to meet ambitious climate targets,โฆ
Utility Billing Software Market Sees Remarkable Growth Amidst Evolving Utility S โฆ
Electricity billing had evolved from the days when utilities gathered monthly energy consumption data to produce a paper invoice that they sent to customers via mail. The use of smart meters, such as two communicating meters, makes it more readily adaptable to streamline the process. For instance, Starnik, which is a software company for utility billing, provides cloud-based electricity billing software for the modern-day utility industry. The incredibly innovative electricityโฆ
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,โฆ
Expecting Huge Growth for Global Utility Scale Solar Market 2019-2026 with top k โฆ
QYReports features a new market study on the report, titled โGlobal Utility Scale Solar Market Professional Survey Report 2019,โ 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 nearโฆ
Utility Scale Solar Market Witness Highest Growth in near future| Leading Key Pl โฆ
MarketResearchNest.com adds โGlobal and Chinese Utility Scale Solar Industry, 2018 Market Research Reportโ 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 withโฆ
Electric Utility Survey Report: Utility Weather Forecasting and Data Usages
Macrosoftโs 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. Macrosoftโs 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 donโt have a dedicated,โฆ
