Market Research Future analysis shows that the Global Utility Communications Market is estimated to grow at CAGR of 7.2 % in the forecast period. The Global Market for Utility Communications is majorly driven by factors such as increasing usage of smart grids and mobile devices, modification in billing practices in utility companies and other.
Utility communication technologies are used in the form of wired and wireless communication technologies. Wireless utility communication technologies include RF mesh and mobile network whereas, wired communication technologies include power line carrier (PLC), optic fiber network, and Ethernet. Utility communication allows smooth and well-regulated transfer of utilities such as power and gas. The installation of smart grids with sophisticated utility communication technology offer benefits to customers and providers, which is pushing market towards growth. The market of utility communication is witnessing significant growth due to the increase in use of smart grids and mobile devices, modification in billing practices in power utility companies and stringent regulatory requirements for power utilities. The rising demand for smart grid systems for the distribution of utilities is the key driver for the global utility communications market.
HoweverH, the availability of capital to adopt communication technologies acts as a major restraint for the Utility Communication market.
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The prominent players in the utility communications market include:
- General Electric (U.S.)
- Siemens AG(Germany)
- ABB, Ltd.( Switzerland)
- Schneider Electric SE (France)
- Motorola Solutions, Inc.(U.S.)
- Omicron Electronics GmbH (Austria)
- Digi International, Inc.(U.S.)
- Milsoft Utility Solutions, Inc.(U.S.)
- Cisco Systems, Inc.(U.S.)
- RAD Data Communications Ltd. (Israel)
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Market Research Future Analysis:
The RF mesh technology sub segment, within the wireless technology segment of the utility communication market is expected to hold the largest share, by technology. This segment is primarily driven by the modernization of ageing infrastructure in developed countries. Asia-Pacific is expected to dominate the global utility communication market, given an increase in the number of smart grid and smart city projects. The growing number of smart grid projects in developing economies, such as China, Japan, Australia, and India, is expected to create an opportunity for the utility communications market during the forecast period.
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