Clicky

Utility Communication Market by Technology Type, Utility Type, Component, Application, End-user and Region – Global Forecast to 2026 – ResearchAndMarkets.com

DUBLIN – ()–The “Utility Communication Market by Technology Type (Wired & Wireless), Utility Type, Component (Hardware and Software), Application (Oil & Gas Network, T&D), End-User (Residential, Commercial, and Industrial), and Region – Global Forecast to 2026” Report was added to ResearchAndMarkets.com to offer.

The global utility communications market size is forecast to grow from an estimated $ 18.7 billion in 2021 to $ 23.2 billion by 2026, with a CAGR of 4.4% from 2021 to 2026.

The main driving forces behind the utility communication market are increasing investments in modernizing power grids through smart grids; Focus on improving network reliability, increasing operational efficiency and reducing downtime; Consolidation of the trend towards digitization of oilfield communications; and government initiative to support the use of smart grid technologies.

The wired segment is expected to hold the largest share of the utility communications market by technology type over the forecast period.

It is estimated that the wired segment will lead the utility communication market during the forecast period. The wired segment mainly includes fiber optics, Ethernet, powerline carriers, SONET / SDH, MPLS-IP and MPLS-TP. Fiber optic and Ethernet are the most preferred media for networking in utility communication. Fiber provides higher bandwidth support and speed, which contributes to high performance, reliability, and improved coverage. The wired segment market is driven by the versatility, speed, and reliability of the segment. The Asia-Pacific region is estimated to hold the largest share of the utility communications market, followed by North America as aging infrastructure is expected to fuel the utility communications market as the need for upgrading increases.

Asia Pacific: The fastest growing utility communications market.

The Asia-Pacific region is the fastest growing utility communications market, followed by Europe. The region has been divided by countries in China, Japan, India, Australia, South Korea, Malaysia, and the rest of the Asia-Pacific region. The rest of the Asia-Pacific region mainly includes Thailand, Vietnam, Indonesia and Singapore. There is a high demand for electricity in the Asia-Pacific region, which is also the most populous region in the world. Countries such as China, Japan and South Korea are continuously investing in network expansion projects to increase the reliability and resilience of distribution networks, which should drive demand for communication solutions and related services from utility companies in the coming years. In addition, the smart grid market in the Asia-Pacific region is expected to grow significantly in the coming years. The region is expected to invest around $ 9.8 billion in smart grid infrastructure development between 2018 and 2027. The Asia-Pacific region is also moving heavily towards clean energy to meet the region’s growing energy needs.

Large economies such as China, Japan and India have ambitious targets for solar and wind renewable electricity generation. According to the Renewable Energy Policy Network (REN21), China accounted for 45% of total global investment (nearly $ 126.6 billion) in renewable energy projects in 2017, followed by India with $ 10.7 billion. Investments in infrastructure adaptations are being driven by the aging electricity infrastructure in the country. All of these investments are likely to fuel the Asia Pacific utility communications solutions and services market.

Market dynamics

driver

  • Growing investments in smart grids and modernization of power grids

  • Focus on improving network reliability, increasing operational efficiency, and reducing downtime

  • Consolidation of the trend towards digitization of oilfield communication

  • Government initiatives to support the use of smart grid technologies

Restrictions

  • High up-front costs for the installation and maintenance of network technology solutions

  • Lack of standards and interoperability of various It protocols and components

opportunities

  • Increase in the number of upcoming Smart City projects in developing regions

  • Replacement of aging communication systems with advanced communication networks

  • Increasing acceptance of wireless communication technologies, especially 5G

Challenges

  • Cyber attack and natural disaster risk

  • Oil price instability, decreased oil demand and supply chain disruptions due to COVID-19

Mentioned companies

  • Fig

  • Black & Veatch Holding

  • Cisco systems

  • Digi International Inc.

  • Fujitsu

  • General electrics

  • Itron

  • Landis + Gyr

  • Milsoft Utility Solutions

  • Motorola solutions

  • Nokia

  • Open systems international

  • wheel

  • Ribbon communication

  • Schneider Electric

  • Feeling (xylem)

  • Siemens

  • Telefonaktiebolaget LM Ericsson

  • Trilliant Holdings

  • Brave communication

  • Zte

For more information on this report, see https://www.researchandmarkets.com/r/62sine

-