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Utility Communication Market worth $26.1 Billion by 2027

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Utility Communication Market worth $26.1 Billion by 2027

October 20
01:44 2022
Utility Communication Market worth $26.1 Billion by 2027
The global utility communication market is estimated to be valued at USD 20.2 billion in 2022 and is projected to reach USD 26.1 billion by 2027 growing at a CAGR of 5.3% during the forecast period.

The global Utility Communication Market is projected to grow from USD 20.2 billion in 2022 to USD 26.1 billion by 2027, at a CAGR of 5.3% according to a new report by MarketsandMarkets™. The Utility Communication Market has promising growth. Growing investment in smart grids; the need for improving grid reliability and operating efficiency and reducing outage length; rising technological advancements in communication technologies; and the need for IoT integration in the operations of the oil & gas industry are driving the growth of the market.

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The wired segment is expected to dominate the Utility Communication Market, by technology, during the forecast period.

The wired segment holds the largest share of the Utility Communication Market. The market for wired communication technologies is mainly driven by the advantages offered by them, such as increased security, lack of interference, and high-speed data transmission.

The public segment is expected to be the fastest growing Utility Communication Market, by utility, during the forecast period.

The Utility Communication Market, by utility, is divided into public and private, wherein the public segment accounts for the largest share, owing to being much more accountable and transparent, operate efficiently by keeping costs down, and deliver reliable power supply.

The Asia Pacific region is the fastest growing Utility Communication Market

In this report, the Utility Communication Market has been analyzed for five regions, namely, North America, Europe, Asia Pacific, South America and Middle East & Africa. Asia Pacific is a significant contributor to the Utility Communication Market in the current scenario owing to the investments in infrastructure modifications.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Utility Communication Market.

Some of the key players include Hitachi Energy Ltd (Switzerland), Schneider Electric (France), Siemens (Germany), General Electric (US), and Motorola Solutions, Inc. (US). The leading players are adopting various strategies to increase their share in the Utility Communication Market.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact: Mr. Aashish Mehra MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: [email protected]

Content Source: https://www.marketsandmarkets.com/PressReleases/utility-communication.asp

Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/utility-communication-market-79991490.html

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