The global utility communication market is expected to grow at a CAGR of 4.5% during the forecast period. The growing demand for smart grids in the energy and utility industry is driving the global utility communication market. A smart grid uses analog and digital information technology. In today’s digital world, where most of the existing things are somehow depending upon electricity, electricity demand has increased immensely. Additionally, renewable energy can be fused with the smart grid to provide better energy transmission and efficiencies, which is not possible with existing grids. Renewable energy itself is in huge demand right now and heavy research is being done on it owing to its availability, applicability, environmentally friendly nature depleting sources of coals and other fuels.
Browse the full report description of “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)” at https://www.omrglobal.com/industry-reports/utility-communication-market
Owing to the growing demand for smart grids, in November 2021, the European Union announced to launch of three new smart grid projects including Carpathian Modernized Energy Network (CARMEN) project, the Gabreta project, and Green Switch. In India alone, the government has plans to build 90 smart cities by 2022. Along with that, rapid urbanization will increase the demand for better and well-developed cities. As per the United Nations (UN), it is expected that the percentage of the urban population will rise to 66% by 2050 from 52% in 2014. The governments of a number of economies are investing in smart meter and smart grid projects, which in turn, will drive the growth of the global utility communication market.
Market Coverage
• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Technology Type
o By Utility Type
o By Application
o By End-User
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- Siemens AG, Schneider Electric, ABB Ltd., and Motorola Solutions Inc.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Utility Communication Market Report by Segment
By Technology Type
By Utility Type
By Application
By End-User
Global Utility Communication Market Report by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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