Utility Communication Market Size Worth $35,138.1 Million, Globally, by 2027 at 16.3% CAGR - Exclusive Report by The Insight Partners

NEW YORK, Jan. 24, 2022 /PRNewswire/ -- According to the new market research report "Utility Communication Market to 2027 - COVID-19 Impact and Global Analysis and Forecasts by Technology (Wired and Wireless); Utility Type (Private Utility and Public Utility)", published by The Insight Partners, the global utility communication market was valued at US$ 10,730.4 million in 2019 and is projected to reach US$ 35,138.1 million by 2027; it is expected to grow at a CAGR of 16.3% during 2020–2027.

Get Exclusive Sample Pages of Utility Communication Market Size - COVID-19 Impact and Global Analysis with Strategic Insights at https://www.theinsightpartners.com/sample/TIPRE00009082/

Utility Communication Market: Competitive Landscape and Key Developments

ABB Ltd.; Ericsson; Fujitsu Ltd.; General Electric Company; Honeywell International Inc.; Omicron Electronics GMBH; Rockwell Automation, Inc.; Schneider Electric SE; Siemens AG; and Tejas Networks Ltd. are among the key players in the global utility communication market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.

In 2020, Verizon collaborated with Honeywell to help utilities speed up and simplify the deployment of new communication-enabled, intelligent sensors and controls for the smart electric grid. Honeywell would be integrating Verizon's Managed Connectivity LTE solutions into smart meters and other edge devices.

Inquiry Before Buying: https://www.theinsightpartners.com/inquiry/TIPRE00009082/

In 2019, Tejas Networks signed an MoU with Bharat Electronics Limited for using Tejas' optical transmission, access, and data-switching products for domestic and export markets.

Utility communication is a communication network that can ensure continuous transmission of voice, data, and video through LANs and WANs. Digital transformation can be described as the use of technology to enhance company efficiency or scope. Digital technologies and social networks are increasingly being used nowadays to improve interaction between government, corporations, civil society, friends, and family. Some of the most commonly used systems are Ethernet network control and data collection, SCADA and smart grid control. The smart grid infrastructure plays a critical role in the communications business of energy & power utilities. A smart grid influences ICT to converge and enable the flow of real-time information within the power utilities; between the power utilities, suppliers, and partners; and between the power utilities, business, and domestic customers. Smart grids and their implementations rely on a robust, secure, highly ascendable and always available communication networks. Owing to the willingness to improve service efficiency, service providers will also ensure regulatory enforcement and mitigate the detrimental effect of cost-cutting problems. Thus, the utility communications network is the basis for two-way communication through the system to all the data points. It assists in tracking and managing grid equipment, measuring network output, and providing real-time information.

In terms of industrialization, there is a correlation between the energy demands of modern society, the economic realities of the utility sector, and the environmental protection standards. This combination forces a new form of a power system to be developed and introduced. The growing usage of smart grid systems in the utility communications industry is driving the global utility communication market's overall growth rate due to its widespread application in various industries, especially the energy & power industry. The contact network forms the foundation of all logical, smart factories. Hence, ensuring its safe and efficient operation is the prerequisite for the successful realization of the Industry 4.0.  

Speak to Analyst: https://www.theinsightpartners.com/speak-to-analyst/TIPRE00009082/

The lockdown of various plants and factories in China affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of various electronic goods. The most striking effect of COVID-19 in the ICT sector was the cancelation of the Mobile World Congress scheduled to take place in Barcelona in February 2020. Companies such as Apple and Microsoft have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are affecting the business collaborations and partnerships opportunities. All these factors are anticipated to affect the information and communication technology industry in a negative manner and thus act as restraining factor for the growth of various markets related to this industry in the coming months.

Smart grids facilitate quicker restoration of electricity after power disturbances, and help reduce management and operational costs of utilities; this ultimately lowers power costs for consumers. Moreover, various initiatives advancing the technological landscape pertaining to the energy sector are likely to drive market growth during the forecast period. The US electrical system announced its "Grid 2030" vision in collaboration with the electric utility industry, equipment suppliers, IT operators, federal and state governments, advocacy organizations, colleges, and national laboratories. This vision encompasses the following aspects related to the power sector: generation, transmission, delivery, storage, and final use. It describes the fundamental problems and obstacles in grid modernization, followed by making recommendations for policymakers and industries to assist them in the development of the electric distribution infrastructure of future, such as utility communications. Mobile network connectivity facilitates the management and tracking of the overall power distribution system operations. It enables contact between smart meters and utilities through nodes. The mobile network connectivity also supports the introduction of smart metering systems across a vast area network. Mobile networking or cellular network technologies include communication technologies such as 3G, WiMAX, and LTE. Thus, with the increased use and demand for smart grids and mobile devices, the need for utility communication channels is also increasing.

Buy Premium Copy of Utility Communication Market Size, Share, Revenue, Strategic Insights and Forecasts 2020-2027 Research Report at https://www.theinsightpartners.com/buy/TIPRE00009082/ 

Utility Communication Market: Technology

The global utility communication market, based on technology, is segmented into wired and wireless. The wired segment held the largest market share in 2019. Wired network is used to relay different types of electrical signals from one end to the other. Using T1 thread, cable modem, or by some other means, often in wired networks, an internet connection is established. Using a wired network definition, the connection is shared between multiple devices. Power Line Carrier (PLC) communication has gained confidence due to its robustness in access, efficiency, and security with the advancement in its technologies led by PRIME PLC over the past decade, and the latest development of PRIME 1.4 technology.

Browse Adjoining Reports:

Smart Utilities Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Deployment Type (Cloud-Based, Web-Based); Product Type (Advance Metering Infrastructure (AMI), Smart Grid Distribution Management, Smart Grid Network Management, Grid Asset Management, Substation Automation, Billing and Customer Information System) and Geography

Metering ICs Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Function (Apparent Energy (kVA), Active Energy (kWh), RMS Energy, Reactive Energy (kVAR)); Type (Single-Channel, Multi-Channel); Application (Industrial, Smart Appliances, Smart Homes, Others) and Geography

Energy and Utility Analytics Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type (Software and Service), By Deployment Model (On-Premise, Cloud and Hybrid), By Application (Load Forecasting, Customer Analytics, Grid Analytics, Asset Management, Smart Meter Analytics, Others), and By Verticals (Oil & Gas, Renewable Energy, Nuclear Power, Electricity, and Water, Others)

Advanced Metering Infrastructure Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Device (Smart Meters, Communication Infrastructure, Home Area Networks (HANS), In-home Display Units); Solution (MDM, Meter Data Analytics, AMI Security Meter, Communication Infrastructure); Service (System Integration, Meter Deployment, Program Management and Consulting) and Geography

Smart Grid Sensors Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Sensor Type (Voltage and Current Sensor, Temperature Sensor, and Others), Voltage Range (Low to Medium Voltage and High Voltage), and Application (Substation Automation, Advanced Metering Infrastructure, Smart Grid Distribution Network, and Others)

Metering Pumps Market Forecast to 2028 - Covid-19 Impact and Global Analysis - By Type (Diaphragm, Piston/Plunger, Others ); End-Use Industry (Water and Wastewater Treatment , Petrochemicals, Oil and Gas , Chemical Processing , Pharmaceuticals , Food and Beverage , Pulp and Paper , Others) and Geography

Smart Gas Meter Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Technology (Automated Meter Reading (AMR), Advanced Metering Infrastructure); Type (Smart Ultrasonic Gas Meter, Smart Diaphragm Gas Meter); Component (Hardware, Software); End User (Residential, Commercial, Industrial) and Geography

Digital Water Solutions Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Solution (Hardware, Software, Services); Technology (Metering and Customer Management, Network Management, Work and Asset Management, Others) and Geography

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Contact Us:

If you have any queries about this report or if you would like further information, please contact us:

Contact Person: Sameer Joshi
E-mail: [email protected] 
Phone: +1-646-491-9876
Press Release: https://www.theinsightpartners.com/pr/utility-communication-market
More Research: https://www.openpr.com/news/archive/139407/The-Insight-Partners.html

SOURCE The Insight Partners