NEW YORK, March 28, 2017 /PRNewswire/ -- "The utility communication market is projected to grow at a CAGR of 15.55%, from 2016 to 2021."
The utility communication market is projected to reach USD 15.45 billion by 2021, at a CAGR of 15.55%, from 2016 to 2021. Utility communication technologies are used in the form of wired and wireless communication technologies. Wireless utility communication technologies include RF mesh, mobile network, and microwave and radio communication, among others. Whereas, wired communication technologies include power line carrier (PLC), optic fiber network, and Ethernet, among other technologies. Modification in billing practices in power utility companies, stringent regulatory requirements for power utilities, and increasing investments in smart grids are the major drivers that will drive the utility communication market. Utility communication technologies, especially wireless technologies, are vulnerable to hackers and natural disasters, which could hinder the growth of the utility communication market.
"The mobile network subsegment, within the wireless technology segment, is expected to grow at the highest CAGR, from 2016 to 2021."
With regard to the technology type segment, the mobile network subsegment is expected to constitute the fastest growing market, from 2016 to 2021. Mobile network communication offers a low cost solution for controlling and monitoring the overall distribution automation system. This technology provides communication between smart meters and utilities through nodes. It also enables smart metering deployments to be implemented through a wide area network. Mobile network or cellular network technology include communication technologies, such as 2G, 3G, WiMAX, and LTE, which are available to utilities for smart metering deployments.
"Asia-Pacific: The largest market for utility communication"
Asia-Pacific is currently the largest market for utility communication, closely followed by North America. The Asia-Pacific market is primarily driven by countries such as China, India, Japan, and Australia where there are high demands for utility communication technologies due to the many smart grids coming up. The market in this region is projected to grow at a high rate, with China expected to dominate the market. Increasing domestic demand for efficient power infrastructure would drive the market for power utility communication. China is expected to invest around USD 31 billion in smart grid projects by 2020; this will likely boost the demand for utility communication.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 25%, Tier 2- 40%, Tier 3- 35%
By Designation: C-Level- 15%, Manager-Level- 55%, Others- 30%
By Region: Asia-Pacific- 60%, Middle East- 10%, Europe- 16%, North America- 9%, and Africa- 5%
Note: The tier of the companies has been defined on the basis of their total revenue; as of 2015: Tier 1 = >USD 20 billion, Tier 2 = USD 10 billion to USD 20 billion, and Tier 3 =
The leading players in the utility communication market include ABB, Ltd. (Switzerland), Siemens AG (Germany), Schneider Electric (France), General Electric (U.S.), and Ericsson (Sweden).
The report defines, describes, and forecasts the global utility communication market by technology type (by power and by oilfield), power utility type, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, challenges, winning imperatives, and key issues. It also covers various important aspects of the market.
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