The global utility communication market is expected to grow at a CAGR of 4.5% during the forecast period. The growing demand for smart grids in the energy and utility industry is driving the global utility communication market. A smart grid uses analog and digital information technology. In today’s digital world, where most of the existing things are somehow depending upon electricity, electricity demand has increased immensely. Additionally, renewable energy can be fused with the smart grid to provide better energy transmission and efficiencies, which is not possible with existing grids. Renewable energy itself is in huge demand right now and heavy research is being done on it owing to its availability, applicability, environmentally friendly nature depleting sources of coals and other fuels.
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Owing to the growing demand for smart grids, in November 2021, the European Union announced to launch of three new smart grid projects including Carpathian Modernized Energy Network (CARMEN) project, the Gabreta project, and Green Switch. In India alone, the government has plans to build 90 smart cities by 2022. Along with that, rapid urbanization will increase the demand for better and well-developed cities. As per the United Nations (UN), it is expected that the percentage of the urban population will rise to 66% by 2050 from 52% in 2014. The governments of a number of economies are investing in smart meter and smart grid projects, which in turn, will drive the growth of the global utility communication market.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Global Utility Communication Market Report by Segment
By Technology Type
- Wired
- Non-Wired
By Utility Type
- Public
- Private
By Application
- Oil & Gas Utilities
- Transmission & Distribution
- Others
By End-User
- Commercial
- Residential
- Industrial
Global Utility Communication Market Report by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global utility communication market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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