Pune, India -- (SBWIRE) -- 01/19/2018 -- Utility Communications Global Market – Overview
Utility Communications plays a vital role in modern power systems operations allowing various operators working in at the centres to exchange information and coordinate action plans by delivering instant messages for real time functions so as to ensure optimum control and safety of the utility systems. Technological advancements have enabled high capacity telecom networks, data storage, processing power and comparatively low-cost sensor content further introducing new age machine to machine communication that enhances efficacies substantially. Emergence of futuristic machineries and 5G communication networks are assuring a far developed and efficient remote sensing, monitoring and other remote IoT functionalities that will make the whole Communications gamut way efficient.
These developments also presage the heydays the Utility Communications Market is to perceive soon. Evidently, it's the result of sedulous efforts the above mentioned key players have put in to bring novelties and advancement in technology. It's their seminal determination that has escorted the Utility Communications market to the ascended heights allowing the market to perceive galore accruals.
Accrediting the exponential traction and accruals the Utility Communications market is enjoying currently and the growth prospects the market is demonstrating globally; the Market Research Future has recently published a meticulous study report giving out the complete market insights up till 2023. In its analysis the MRFR asserts that the global Utility Communications market is projected to garner exponential accruals registering 7.2 % of CAGR during the forecast period 2017-2023.
The global Utility Communications Market growth is influenced by numerous factors including augmented demand for efficient real time communication attributed to the growing demand for renewable power generations and its distributions that have raised the number of newly erected power generation or utility centres worldwide. Furthermore augmented uptake of advance digital technologies such as big data analytics, Internet of Things (IoT), artificial intelligence (AI), etc. enabling digital transformation for numerous utilities have ensured vast market scope for Utility Communications Market. Simultaneously, power utilities worldwide have embraced smart grids, new energy technologies that are changing power generation, transmission and distribution – majorly, the adoption of distributed energy resources (DERs), predominantly solar and wind power has provided impetus to the growth of the Utility Communications Market to an extent.
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Prominent Players
General Electric (US), Siemens AG (Germany), ABB, Ltd. (Switzerland), Schneider Electric SE (France) Motorola Solutions, Inc. (US), Omicron Electronics GmbH (Austria), Digi International, Inc. (US), Milsoft Utility Solutions, Inc. (US), Cisco Systems, Inc. (US) and RAD Data Communications Ltd. (Israel) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Utility Communications Market.
Utility Communications Market - Competitive Analysis
Characterized by the presence of several major well-established players, the global Market of Utility Communications appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage in this market and to maintain their market position. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period.
Industry/ Innovation/Related News:
Jan. 4, 2018 – Landis+Gyr (Australia) one of the leading global provider of integrated energy management solutions for the utility sector announced winning the project contract of Wisconsin Public Service, a utility company (US) for Electric and Gas AMI Deployment, a Project, which includes MDMS, will operate under a managed services contract where Landis+Gyr will be providing a multi-purpose Advanced Metering Infrastructure (AMI) network platform for advanced metering and grid modernization by adding grid intelligence, communications and data management capabilities.
December 06, 2017 – Sensus, a Xylem brand, as the "Best Smart Utility Solution & a global provider of a wide range of sensing and communications technologies, announced winning of consecutive awards (for the second straight year) for "Rural Smart Technology Innovation" for the Sensus AMI solution.
December 26, 2017 - Hubbell Incorporated (US) an international manufacturer of quality electrical and electronic products for a broad range of non-residential and residential construction, industrial and utility applications announced that it has entered into a definitive agreement to acquire Aclara Technologies LLC,(US) a world-class supplier of smart infrastructure solutions (SIS) to water, gas, and electric utilities globally for approximately $1.1 billion in an all-cash transaction.
December 11, 2017 - OSG Billing Services (US), a leading provider of outsourced billing and statement services and customer communication management and an award-winning transactional communication provider of utility markets announced that it has completed the acquisition of Diamond Communication Solutions Inc.(US), a full-service provider of data-driven customer communications.
Utility Communications Global Market – Segments
The Global Utility Communications Market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
Segmentation By Technology Type : Comprises Wired Communication Type (Power Line Carrier, Optic Fiber, Ethernet), and Wireless communication Type (RF Mesh, Mobile Network)
Segmentation By Utility Type : Comprises Power Generation & Transmission, Natural Gas, Water and Sewage, Oilfield Communications.
Segmentation By Regions : Comprises Geographical regions - North America, Europe, APAC and Rest of the World.
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Utility Communications Global Market – Regional Analysis
Asia-Pacific is expected to dominate the global utility communications market due to high demand for utility communications technologies. Increasing domestic demand for efficient power infrastructure would drive the market for power utility communication. Moreover, rising demand for smart cities and smart grid infrastructure in emerging countries such as India, China and Japan are driving the market towards growth.
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