According to Stratistics MRC, the Global Utility Communication Market is accounted for $17.87 billion in 2020 and is expected to reach $29.36 billion by 2028 growing at a CAGR of 6.4% during the forecast period. Growing investment in smart grids and modernization of electricity networks and changing utility billing systems are driving the market growth. However, high initial investments are hampering the growth of the market.
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Based on the application, the transmission & distribution (T&D) segment is going to have lucrative growth during the forecast period due to the increasing demand for electricity and replacement of aging power infrastructure is expected to drive the market. T&D operators depend on automatic systems to monitor and detect faults in their electrical networks and equipment. Many utility operators focus on maximizing investment in communication networks while ensuring reliable, secure data transmission. By geography, Europe is going to have high growth during the forecast period due to this region has the latest technological innovations in the utility communication network, significant investments, and effective digital global economy.
Some of the key players profiled in the Utility Communication Market include Schneider Electric, General Electric, Rockwell Automation, ABB, Toshiba, Metso Corporation, Honeywell International Inc., Hitachi, Yokogawa, Azbil Corporation, Motorola Solutions, Inc., Omicron Electronics GmbH, Siemens AG, Nokia, Cisco Systems, Inc and Texas Instruments, Inc.
Components Covered:
• Software
• Hardware
Technologies Covered:
• Wireless Technology
• Wired Technology
Applications Covered:
• Transmission & Distribution (T&D)
• Oil & Gas Network
Utility Types Covered:
• Public
• Private
End Users Covered:
• Commercial
• Residential
• Industrial
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
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