Utility Communication Market show exponential growth by 2025
Utility communication refers to a set of technologies and devices intended to coordinate various parts of a multifaceted utilities distribution system. Utility communication allows smooth and well-regulated transfer of utilities such as power or gas. Due to the emphasis being laid upon the development of automated distribution networks for utilities distribution, the market for utility communication systems is expected to exhibit a steady rise across the world in the coming years.
Global Utility Communication Market: Key Trends
The rising demand for smart grid systems for the distribution of utilities is the key driver for the global utility communication market and is expected to ensure steady growth of the market in the coming years. The installation of smart grids armed with sophisticated utility communication technology offers benefits to customers as well as providers, which is likely to lead to steady demand for utility communication systems in the coming years.
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The distribution of utilities can be monitored much more closely in smart grids and can also be automated. The use of advanced sensors in each node of the smart grid system means minor changes in individual receiving units can be accurately represented in individual bills. Such advances in billing mechanisms have been widely popular and are likely to fuel increased installation of smart grid technology in utilities distribution in the coming years, leading to steady demand from the utility communication market.
Governments around the world have also embraced the increasing demand for smart grid systems, since large-scale installation of smart grid systems can help ensure efficient use of national resources and thus indirectly decrease the need for government expenditure. The rising demand for smart city infrastructure is also likely to have a positive impact on the global utility communication market in the coming years, as the presence of a technologically advanced urban connectivity will make installing utility communication systems easier.
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Global Utility Communication Market: Market Potential
The conventional structure of the utilities market has been disrupted by the steady adoption of digital solutions that maximize the utilities distributor’s profit margin. The rising use of onsite power generation mechanisms such as solar and wind power has also altered the dynamics of the utilities industry, with customers now starting to not only fulfill their own energy needs, but also to supply excess power into the main grid. This has necessitated the use of advanced machine to machine communication technology to cope with the flexible distribution process. This has seen utilities providers evolve into the role of platform provider using multiple third-party services. This configuration is likely to boost the utility communication market’s growth prospects in the coming years.
Global Utility Communication Market: Geographical Dynamics
The report looks into the performance and growth prospects of the utility communication market in North America, Europe, Asia Pacific, and the Rest of the World in order to provide readers with a comprehensive view of the market. Asia Pacific is expected to remain the leading contributor to the global utility communication market in the coming years thanks to the rising demand for smart city and smart grid infrastructure in emerging countries such as India, South Korea, Japan, and China.
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Global Utility Communication Market: Competitive Landscape
The report profiles the leading players operating in the global utility communication market, thus shedding light on the competitive dynamics of the market. Key companies in the global utility communication market include General Electric, Schneider Electric, Comnet, Motorola Solutions Inc., Valiant Communications, Cisco Systems Inc., ZTE Corporation, Fujitsu, Ericsson, Texas Instruments Inc., and Open Systems International.
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