Increasing use of smart grids and mobile devices, modification in billing practices in Utility Communication Market

The Utility Communication Market is expected to grow at a CAGR of 15.55%, from 2016 to 2021 and will reach to USD 15.45 billion in 2022 from an estimated value of 7.50 billion in 2016.

The power line communication (PLC) technology subsegment, within the wired technology segment, led the utility communication market in 2016, and is projected to dominate the market during the forecast period. The segment is expected to grow at the fastest rate at a CAGR of 13.88% during the forecast period. This segment is primarily driven by the increasing number of smart cities projects around the globe. This is expected to create new revenue pockets for the utility communication market during the forecast period. PLC is a technology that is capable of being used with the existing electrical infrastructure. This technology plays a critical role in modern communication networks as it transmits electrical data at a faster rate through T&D systems.

Most countries in the world are focusing on the implementation of advanced metering infrastructure (AMI) which includes the installation of smart meters and other electronic devices that enable two-way communication and data transfer between end-users and utilities. Factors such as theft and fraud of power, wrong billing, meter reading costs, and late payments are influencing the shift towards smart meters from traditional meters. The information provided by smart meters allow utilities to improve outage management. Global investment in smart meters is expected to reach USD 11.89 billion by 2020. This will drive the demand for utility communication technologies, which provide two-way communication while ensuring that utilities are able to capture details regarding how energy is transmitted and consumed in real-time.

The RF mesh technology subsegment, within the wireless technology segment to grow at the highest rate during the forecast period

The RF mesh technology subsegment, within the wireless technology segment is projected to dominate the market during the forecast period. This segment is primarily driven by the modernization of ageing infrastructure in developed countries. The growing number of smart grid projects in developing economies, such as China, Japan, Australia, and India, is expected to create new revenue pockets for the utility communication market during the forecast period.

Speak to Report Analyst @ http://www.marketsandmarkets.com/speaktoanalyst.asp?id=79991490

Utility communication in the Asia Pacific region expected to grow at the highest rate during the forecast period

Asia-Pacific is the most populated region in the world, and the electricity demand in the region is projected to be more than double by 2035, reaching 16,169.2 TWh. As the demand for digitization of the grids continues to grow, nearly all the Asia-Pacific countries are shifting to deployment of smart grid technology to increase the efficiency of their power distribution systems. The T&D infrastructure in the region is in the initial stage of grid restructuring. China, Japan, and India, among others, are investing in grid expansion projects to increase distribution grid reliability.

Meanwhile, the Indian government is also taking initiatives to increase power generation capacity using renewable energy sources. India is the third-largest electricity producer in the world and is likely to generate around 30 GW power from renewable energy sources by 2017. These factors are expected to drive the growth of the utility communication market in the Asia-Pacific region.

To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the top players in the utility communication market.

These players include ABB, Ltd. (Switzerland), Siemens AG (Germany), Schneider Electric (France), General Electric (U.S.), and Ericsson (Sweden). The leading players are trying to penetrate the markets in developing economies, and are adopting various strategies to increase their market share.

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