Press release
Key Trend Reshaping the Smart Utilities Market in 2025: Technologically Advanced Smart Water Solution To Drive Innovation In Smart Utilities
Key Trend Reshaping the Smart Utilities Market
In recent times, the size of the smart utilities market has seen a substantial growth. It's slated to expand from $46.64 billion in 2024, to $53.25 billion in 2025, marking a compound annual growth rate (CAGR) of 14.2%. The surge in the historical period can be traced back to factors such as a rise in the deployment of energy storage solutions, the necessity for demand response management, growing demand for renewable energy, heightened energy consumption, and escalated investment in the modernization of infrastructure.
The estimated significant expansion of the smart utilities market size is forecast within the next few years, potentially reaching a valuation of the $89.33 billion by 2029 with a compound annual growth rate (CAGR) of 13.8%. This predicted increase throughout the prediction period can be credited to factors such as enhanced grid dependability and resilience, weather-based load anticipation, the rise of digitalization and data analysis, the surge in demand for environmentally friendly energy solutions, escalating utility costs driving the push for efficiency, and the growing consumer preference for energy-saving appliances. Key market trends anticipated in the forecast period encompass hyper automation and edge computing, the employment of digital twins for predictive maintenance, heightened emphasis on cybersecurity considering potential quantum threats, the utilization of smart grids as a base for new services, and developments in autonomous systems and robotics.
What Are the Main Catalysts for Growth in the Smart Utilities Market?
The surge in electric vehicle use is predicted to fuel the expansion of the smart utilities market. Electric vehicles (EVs), powered by one or more electric engines that utilize energy from rechargeable batteries or other energy storage systems, are gaining popularity due to convenience and environmental benefits. This increase in usage is also linked to an increase in available models, declining costs, and government initiatives promoting decarbonization. Smart utilities aid in integrating electric vehicles (EVs) by enhancing charging structures, managing grid demand, and promoting effective energy distribution. For instance, the International Energy Agency (IEA), an autonomous intergovernmental organization based in France, reported an increase from approximately 9% in 2021, to 14% in 2022, in the percentage of electric cars amongst all new vehicle purchases. Consequently, the rise in electric vehicle adoption is stimulating the expansion of the smart utilities market.
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=16194&type=smp
Which Businesses Are at the Forefront of Smart Utilities Market Development?
Major companies operating in the smart utilities market are Siemens AG, General Electric Company, International Business Machines Corporation (IBM), Cisco Systems Inc., Oracle Corporation, Mitsubishi Electric Corporation, Schneider Electric SE, Honeywell International Inc., ABB Ltd, SAP SE, Eaton Corporation plc, Atos SE, Wipro Limited, Tech Mahindra Limited, Xylem Inc., Hubbell Incorporated, Itron Inc., Enel X S.r.l., Landis+Gyr Group AG, S&C Electric Company, Semtech Corporation, Kamstrup A/S, Smart Energy International, Tantalus Systems Corporation, Trilliant Holdings Inc.
What Are the Latest Innovations in the Smart Utilities Market?
Key players in the smart utilities market are turning their attention towards the creation of cutting-edge solutions like advanced meter infrastructure (AMI) systems, a move aimed at refreshing city water management strategies and carving out their own niche in the competitive market. The AMI systems are essentially integrated networks that facilitate automated and real-time data gathering and handling for more efficient utility supervision and regulation. A case in point would be ST Engineering, a tech and engineering company based in Singapore that introduced BrightCity, an advanced meter infrastructure (AMI) solution, in June 2024 to aid utility providers and end users in regulating water usage. BrightCity overcomes obstacles presented by outdated water infrastructure and disjointed meter systems by converting normal meters into intelligent ones through its innovative Meter Interface Unit (MIU). This MIU, being compatible with the majority of water meters, permits wireless data assembly and its integration into a centralized Meter Data Management System (MDMS). The system offers real-time data, prediction of leaks, and a user portal for water usage tracking.
How Is the Smart Utilities Market Segmented?
The smart utilities market covered in this report is segmented -
1) By Components: Hardware, Software, Services
2) By Technology: Wired, Wired-Less
3) By Applications: Meter Hardware, Communications And Networking, Power Quality Equipment, Technologies
Subsegments:
1) By Hardware: Smart Meters (Electricity, Gas, Water), Communication Modules (For Smart Grid Networks), Sensors And Actuators (For Monitoring And Control), Smart Grids And Substations Equipment, Advanced Metering Infrastructure (Ami), Energy Storage Systems (Batteries), Smart Transformers And Circuit Breakers, Iot Devices For Utilities
2) By Software: Smart Grid Management Software, Utility Data Management Systems (Udms), Energy Management Software (Ems), Geographic Information Systems (Gis), Billing And Customer Information Systems (Cis), Predictive Analytics And Forecasting Software, Scada Systems (Supervisory Control And Data Acquisition), Cloud-based Software For Utility Operations
3) By Services: Installation And Commissioning Services, Consulting Services (For Smart Grid Design And Implementation), Maintenance And Support Services, Data Analytics And Reporting Services, Cloud Hosting And Data Storage Services, Cybersecurity Services For Smart Utilities, Managed Services (For Operations And Monitoring), Remote Monitoring And Diagnostics Services
Pre-Book Your Report Now For A Swift Delivery:
https://www.thebusinessresearchcompany.com/report/smart-utilities-global-market-report
Where Is the Smart Utilities Market Growth Most Prominent?
North America was the largest region in the smart utilities market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart utilities market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Smart Utilities Global Market Report?
- Market Size Analysis: Analyze the Smart Utilities Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Smart Utilities Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Smart Utilities Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Smart Utilities Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=16194
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model (GMM), is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
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 Key Trend Reshaping the Smart Utilities Market in 2025: Technologically Advanced Smart Water Solution To Drive Innovation In Smart Utilities here
News-ID: 3866974 • Views: …
More Releases from The Business research company
Seed Treatment Fungicides Market to Grow at 9.3% CAGR, Reaching $3.15 Billion by …
Use ONLINE30 for 30% savings on global market reports and stay on top of tariff updates, market trends, and economic shifts worldwide.
Seed Treatment Fungicides Market Outlook: How is the Market Expected to Grow by 2025?
Over the past few years, the market for seed treatment fungicides has seen robust growth. Its market value is projected to rise from $2.07 billion in 2024 to $2.21 billion in 2025, signifying a compound annual…
Rheology Modifiers Market Growth to be Driven by Emerging Trends | $10.92 Billio …
Stay informed on tariff shifts, macro trends, and global economic changes-use code ONLINE30 to enjoy 30% off our global market reports.
What is the Projected Market Size of the Rheology Modifiers Industry?
There has been a consistent expansion in the size of the rheology modifiers market in the past few years. The market, which was worth $8.59 billion in 2024, is projected to increase to $8.89 billion in 2025, demonstrating a compound…
Polyurethane Foam Market to Record 8.4% CAGR Growth Through 2029 | Global Analys …
Use ONLINE30 for 30% savings on global market reports and stay on top of tariff updates, market trends, and economic shifts worldwide.
Polyurethane Foam Market Outlook: How is the Market Expected to Grow by 2025?
In recent years, the size of the polyurethane foam market has experienced substantial growth. It is projected to increase from a value of $54.27 billion in 2024 to $57.26 billion in 2025, indicating a compound annual growth…
Pharmaceutical Intermediates Market Size to Reach $46.04 Billion by 2029 | Growt …
Stay informed on tariff shifts, macro trends, and global economic changes-use code ONLINE30 to enjoy 30% off our global market reports.
What is the Projected Market Size of the Pharmaceutical Intermediates Industry?
There has been consistent growth in the market size of pharmaceutical intermediates over the past few years. The market is predicted to increase from a value of $33.37 billion in 2024, up to $34.95 billion in 2025, with a compound…
More Releases for Smart
Smart Cities Market is Expected to Witness CAGR of 17.3% by 2027 with Applicatio …
A smart city is an urban unit or area that uses various types of electronic Internet of Things (IoT) devices to collect data and then use the insights to manage resources, assets, and services effectively. Green building is a growing trend in the global smart cities market. Constructing eco-friendly infrastructure facilities can provide a sustainable environment in the cities. Moreover, governments are focused on constructing energy-efficient buildings, in order…
Internet of Things (IoT) Devices Market By Type (Computing Devices, Smart Media, …
On a global scale, the Internet of Things (IoT) Devices market is currently showing significant development. The innovative methods and market study have helped many of the major players Samsung Electronics, Apple, Lenovo, ASUS, Acer, Huawei, Coolpad, LG Electronics, Google, Panasonic, Microsoft, Brother Industries, Honeywell, Fitbit, Lenovo to carve a name for themselves in the competitive global market. The Internet of Things (IoT) Devices market is experiencing a massive growth…
Global Smart Cities Market by Component (Hardware, Software) by Application (Sma …
Global Smart Cities Market: Overview
The global smart cities market is expected to reach a mark of over USD 3000 billion by 2024, at a CAGR over 21% during the forecast period. Significant growth in next-generation technologies such as artificial intelligence AI, personalized healthcare, sustainable energy generation and robotics are driving the smart cities’ future. Moreover, the increase in residential preference towards the adoption of advanced information and communication technologies ICT…
Global Smart Infrastructure - A Smart Approach To Smart Cities In 2016
Slowly but surely we are beginning to see a transformation take place in many parts of the world, as governments and councils realise they need to take a holistic approach to future city-wide development. In Australia, for example, we see that Adelaide, Canberra, Newcastle, Lake Macquarie, Sydney, Ipswich and Sunshine Coast have all been identified as being among the leading smart cities. The Netherlands also has great examples of emerging…
Global Smart Infrastructure - A Smart Approach To Smart Cities In 2016
The global smart city transformation is underway
Slowly but surely we are beginning to see a transformation take place in many parts of the world, as governments and councils realise they need to take a holistic approach to future city-wide development. In Australia, for example, we see that Adelaide, Canberra, Newcastle, Lake Macquarie, Sydney, Ipswich and Sunshine Coast have all been identified as being among the leading smart cities. The Netherlands…
Smart Kitchen Appliances Market ( Smart Refrigerators, Smart Dishwashers, Smart …
The rising demand for smart kitchen appliances is linked to their premium design that offers better effectiveness and more comfort than their traditional counterparts. With energy efficiency at its core, the global market for smart kitchen appliances is expected to surge at a robust pace in the near future.In a report titled “Smart Kitchen Appliances Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022,” Transparency…
