Utility Communication Market by Technology (Wired, Wireless), Utility (Public, Private), Component (Hardware, Software), Application (Oil & Gas, Electricity T&D), End-User (Residential, Commercial, Industrial) and Region - Global Forecast to 2027

Utility Communication Market by Technology (Wired, Wireless), Utility (Public, Private), Component (Hardware, Software), Application (Oil & Gas, Electricity T&D), End-User (Residential, Commercial, Industrial) and Region - Global Forecast to 2027

The utiltiy communication market is expected to grow from an estimated in USD 20.2 billion in 2022 to USD 26.1 billion by 2027, at a CAGR of 5.3% during the forecast period. The primary drivers of the market include growing investment in smart grids and modernization of electricity networks.

“The transmission & distribution segment, by application, is expected to be the largest and the fastest-growing market from 2022 to 2027”

The utility communication market, by application, is bifurcated into transmission & distribution, oil & gas utilities and others. The transmission & distribution segment is expected to dominate in terms of market share and CAGR during the forecast period and this dominance can be attributed to the rising demand from various end use industries due to the upgrade of infrastructures across the world, especially in the North American region.

“The industrial segment, by end-user, is expected to be the fastest-growing market from 2022 to 2027”

The utility communication market by location is segmented into residential, commercial and industrial. The industrial segment is expected to be the fastest growing segment, followed by the commercial segment. Demand for faster communication and restoration of utility services is driving the demand for utility communication in the commercial segment.

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- 65%, Tier 2- 24%, and Tier 3- 11%

By Designation: C-Level- 30%, Director Level- 25%, and Others- 45%

By Region: Asia Pacific- 33%, Rest of The World – 20%, Europe – 20%, and North America – 27%

Note: Others includes sales managers, marketing managers, product managers, and product engineers.

The tier of the companies is defined based on their total revenue as of 2017. Tier 1: USD 1 billion and above, Tier 2: From USD 500 million to USD 1 billion, and Tier 3:

The utility communication market is dominated by a few major players that have a wide regional presence. The leading players in the utility communication market Hitachi Energy Ltd (Switzerland), Schneider Electric (France), Siemens (Germany), General Electric, Motorola Solutions, Inc (US). and others.

Study Coverage:

The report defines, describes, and forecasts the utility communication market, by technology, utility, component, application, end-user 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, and challenges. It also covers various important aspects of the market, which include the analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the utility communication market.

Key Benefits of Buying the Report

1. The report identifies and addresses the key markets for utility communication operations and services, which would help equipment manufacturers and service providers review the growth in demand.

2. The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.

3. The report will help key players understand the strategies of their competitors better and help them in making better strategic decisions.