PUBLISHER: Orion Market Research | PRODUCT CODE: 1215745
PUBLISHER: Orion Market Research | PRODUCT CODE: 1215745
Title:Global Utility Communication Market Size, Share & Trends Analysis Report, By Technology Type (Wired and Wireless), By Utility Type (Public and Private), By Application (Oil & Gas Utilities, Transmission & Distribution, and Others), By End-User (Residential, Industrial, and Commercial), Forecast Period 2022-2028.
The global utility communication market is expected to grow at a CAGR of 4.5% during the forecast period. Electricity network modernization along with the growing investment in smart grids is driving the global utility communication market. The emerging trend of communication digitalization in oilfields; and government plans to encourage the implementation of smart grid technologies are further contributing to the market growth. High initial investments along with high maintenance cost are some major restraints for the market growth.
The global utility communication market is segmented by technology type, utility type, application and end-user. The market segmentation based on the technology type includes wired and non-wired. Based on utility type, the market is segregated into public and private. Based on application, the market is sub-segmented into oil & gas utilities, transmission & distribution, and others. Based on end-user, the market is segmented into residential, industrial, and commercial.
The global utility communication market is further segmented based on geography including North America (the US and Canada), Europe (UK, Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. North America holds a prominent share in the global utility communication market. The increased adoption of advanced and novel technologies and increased investments by the regional governments in the power industry are some key factors driving the regional market growth. Some of the prominent projects concerning the establishment of smart grids include gridSMART Phase 2, AEP Ohio wanted to implement phase 2, which includes the provision for advanced metering solutions.
The major companies serving the global utility communication market include Siemens AG, Schneider Electric, ABB Ltd., and Motorola Solutions Inc. The companies are focusing on technology advancements, expansions, mergers & acquisitions, and finding a new market or innovation in their core competency to expand individual market share.
Research Methodology
The market study of the global utility communication market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to break down the market into various segments, and derive the total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives as possible, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include:
The report provides an in-depth analysis of the market size, and intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
Market Segmentation
The Report Covers: