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The Global Utility Communication Market size is expected to reach $27.5 billion by 2028, rising at a market growth of 5.4% CAGR during the forecast period

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A collection of tools and technology known as utility communication are used to coordinate the many components of a complex utilities distribution system. It provides real-time information, measures network performance, and monitors and controls grid equipment.

New York, Jan. 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Utility Communication Market Size, Share & Industry Trends Analysis Report By Component, By Utility Type, By Application, By Technology, By End-user, By Regional Outlook and Forecast, 2022 - 2028" - https://www.reportlinker.com/p06412093/?utm_source=GNW
Modern power systems perform more effectively due to the establishment of automated distribution networks for utilities (such as power and energy).

Due to the need for automation, the utility communication industry is anticipated to experience rapid expansion in the next years. This communication technology enables the efficient and well-regulated transport of utilities like gas and electricity. All of the data points throughout the utility can communicate with each other in both directions through the utility communications network.

Utilities all over the world are spending a lot of money to upgrade communications infrastructure in order to prevent an ecosystem of disjointed communication networks. Demand response (DR), advanced metering infrastructure (AMI), and distribution automation (DA) are supported by this infrastructure, which is funded by legal obligations, government grants, and the high cost of inefficient energy delivery.

Communication is becoming even more vital in the field of utilities as distributed power generation, and the development of smarter grids gain momentum. To regulate their multi-vendor, multi-technology networks, utilities are establishing to look for a variety of communication solutions.

Due to the difficulties in managing numerous advanced metering infrastructure platforms, many utilities are having trouble getting the most out of their current systems. Utility communication systems are becoming more and more in demand worldwide as a result of sudden increases in power consumption that have not been accompanied by an increase in generation and transmission capacity.

COVID-19 Impact Analysis

The coronavirus is already having negative consequences on the world, and in 2020, those effects will be moderately felt in utility communications. The COVID-19 virus epidemic in December 2019 prompted the World Health Organization to declare a public health emergency. There has been a high death toll globally as a result of the disease’s global expansion over more than 100 nations. The global manufacturing, finance, tourist, and export-import sectors have all suffered huge losses. The downward pressure on the economy has once again increased worldwide after primarily showing the scope for improvement. The viral pandemic has already increased the risky aspects of the slow-growing economy.

Market Growth Factors

The Expanding Scope Of Smart City Initiatives

The majority of nations are concentrating on putting advanced metering infrastructure (AMI) into place, which involves installing smart meters and other electronic equipment that allow for two-way communication and data transfer across end customers and utilities. The transition from conventional meters to smart meters is being influenced by issues including incorrect invoicing, electricity theft and fraud, late payments, and meter reading fees. As a result, expanding smart city projects demonstrate the market’s growing demand for utility communications.

Efforts For Enhancing Grid Dependability, Boosting Operational Efficiency, And Shortening Outage Times

The power distribution network needs utility communication technology to be more dependable. To increase the operational effectiveness of power distribution systems, data is collected, automated, analysed, and optimised using sensors, processors, switches, and communication networks. The many field devices used to increase grid reliability, and operating efficiency include remote fault indicators, automated voltage regulators, smart relays, automated capacitors, automated feeder monitors, automated feeder switches/reclosers, transformer monitors, and remote terminal units.

Market Restraining Factors

Covid-19’s Impact On The Oil Market Decreased Oil Demand, And Supply Chain Breakdowns

The COVID-19 pandemic has slowed the expansion of the oil and gas sector by lowering demand and, as a result, the price of oil. Due to the global shutdown and related problems in the supply chain, the spread of COVID-19 is also adversely affected the producers of field devices used in utility communication. Due to the lack of supply, raw material prices also rose, thereby caused order closures to be delayed.

Technology Outlook

Based on technology, the Utility Communication Market is classified into Wired and Wireless segments. The wireless market accounted for a considerable revenue share in 2021. The foundation for two-way communication between all of the data points throughout the utility is the utility communications network. It aids in measuring network performance, regulating grid equipment, and providing real-time information. You can do this by utilizing wireless technologies.

Utility Type Outlook

Based on utility type, the Utility Communication Market is classified into Public and Private. The private segment generated the significant revenue share in 2021. Private financial supporters or partners own private utilities. Private utilities either operate their own electricity facilities or buy power through contracts. They operate on a large scale and devote greater resources to the implementation of intelligent utility correspondence innovation.

Component Outlook

Based on component, the Utility Communication Market is segmented into Hardware and Software. The hardware classification held the largest revenue share in 2021. The utility communication equipment is comprised of parts, for example, handsets, power supplies, microcontrollers, transceivers, modems, wideband associations such as Lan, and optical fibres. The industry will most likely be pushed by a greater emphasis on employing parts that perform various tasks, for example, transportation framework control.

Application Outlook

Based on application, the Utility Communication Market can be classified into Transmission & Distribution, Oil & Gas, and Others. The transmission and distribution segment generated the largest revenue share in 2021. The segment is expected to be driven by increasing power consumption and the replacement of aging power infrastructure. T&D managers rely on technological innovations to screen and detect flaws in their electrical organisations and hardware.

End-User Outlook

Based on end-user, the Utility Communication Market is categorized into Commercial, Residential, and Industrial. In 2021, the commercial segment held the prominent revenue share. The microgrid’s ability to run in an island mode is its most crucial component. This implies that the commercial facilities can continue to generate and use energy even after being cut off from the main grid. The ability to island distinguishes a microgrid from other related ideas, like on-site renewable generating, which do not necessarily require to operate independently.

Regional Outlook

Based on geography, the System Integrator Market is divided into North America, Europe, Asia Pacific, and LAMEA. In 2021, the major revenue share was generated by the Asia Pacific region. The key markets in the region include China, Japan, Australia, India, South Korea, and Malaysia. The area needs power severely because of its growing population and sizable manufacturing base. Therefore, these nations are actively investing in matrix extension projects to improve the dependability and adaptability of appropriation organizations.

The major strategies followed by the market participants are Acquisitions and Partnerships. Based on the Analysis presented in the Cardinal matrix; Siemens AG and Schneider Electric SE are the forerunners in the Utility Communications Market. Companies such as Nokia Corporation, Motorola Solutions, Inc., and Fujitsu Limited are some of the key innovators in Utility Communications Market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Fujitsu Limited, Schneider Electric SE, General Electric (GE) Co., Siemens AG, Motorola Solutions, Inc., Xylem, Inc. (Sensus), Itron, Inc., Trilliant Holding Inc., Digi International Inc., and Nokia Corporation.

Recent Strategies Deployed in Utility Communications Market

Partnerships, Collaborations and Agreements:

Jun-2022: Nokia came into collaboration with Cellnex Telecom, a Spanish wireless telecommunications infrastructure, and services company. This partnership is aimed to promote digital transformation across a series of industries.

Jun-2022: GE Digital partnered with Climavision, a weather technology company. The partnership is made to support GE Digital’s electric utility customers to enhance their capability to forecast weather and good plan for worse storm events.

Jun-2022: Schneider Electric came into collaboration with Hitachi Energy, a technology leader in transmission, distribution, and grid automation solutions. Through this collaboration, both companies aim to offer better customer value and boost the energy transition. Additionally, the company assumes this collaboration would ensure benefits for customers in their operational life cycle.

May-2022: Itron, Inc., collaborated with Microsoft, a technology corporation producing computer software, and consumer electronics. Under this collaboration, companies would combine Microsoft’s leading cloud solutions and Itron’s leading energy management solutions to change the way end users manage and look at their energy and how utilities address the requirements of a quickly transforming industry.

Dec-2021: Fujitsu signed an agreement with GE, an energy leader engaged in offering equipment, solutions, and services. Under this Agreement, Companies combine Fujitsu’s system integration, operation services, and maintenance and GE’s OEM expertise in grid asset performance management to deliver Transmission & Distribution utilities full support in creating and finalizing their digitalization projects.

May-2021: Fujitsu came into agreement with Amazon Web Services, Inc., a cloud computing platform offered by Amazon.com Company. In this collaboration, Fujitsu would be placed as a key player in boosting DX and broadening business for companies in the mobility sector consisting of insurance providers, logistics, and automobile manufacturers.

Jun-2020: Siemens came into partnership with Salesforce, an American cloud-based software company. This partnership is aimed to advance the latest workplace technology offering which would support enterprises worldwide to safely reopen and provide future experiences for physical workplaces. The partnership would integrate Siemens’ Smart Infrastructure solutions consisting of Enlighted and Comfy, and Salesforce’s Work.com, powered by Customer 360, to structure the processes, things, and people which are important to build connected, safe workplaces for the future.

Acquisitions and Mergers:

Jun-2022: Schneider Electric acquired EV Connect, Inc., a premier electric vehicle (EV) charging solution provider. This acquisition would allow Schneider Electric to accelerate its growth and EV revolution.

Apr-2022: Motorola Solutions acquired Calipsa, Inc., a technology leader in cloud-native advanced video analytics. This acquisition would quickly broaden Motorola Solutions’ intelligent analytics across video security solutions and support the increasing trend of companies utilizing cloud technologies to improve security and safety.

Mar-2022: Motorola Solutions, Inc. took over TETRA Ireland Communications Limited, the provider of Ireland’s National Digital Radio Service. Through this acquisition, Motorola would deliver the interoperable mission-critical communications that Ireland’s emergency and public service agencies rely on every day.

Feb-2022: Schneider Electric took over EnergySage, the leading renewable energy marketplace. This acquisition is aimed to help boost a shared vision for modifying the clean energy market. Additionally, the acquisition would boost EnergySage’s growth and allow maximum energy consumers to make the transition to renewable energy.

Dec-2021: GE Digital acquired Opus One Solutions Energy Corporation, a software engineering, and solutions company. Through this Acquisition, GE Digital aims to develop the Energy Transition. Additionally, the integration of GE Digital’s network management and optimization offering with Opus One’s renewable energy planning abilities would help utilities make decisions about a way to combine Distributed Energy Resources and renewables at scale across the electric grid.

Jul-2021: Siemens acquired FORAN, a software business of SENER, a global company in engineering and technology. FORAN is CAE/CAD/CAM software for the engineering, design, and construction of marine and vessel structures. This acquisition would add FORAN product and delivers comprehensive know-how and experience in complex defense industry standards, regulation compliance, and commercial marine projects.

Mar-2021: Digi International acquired Haxiot, an industry leader in end-to-end LoRaWAN®-based solutions. Through this acquisition, the company strengthen Digi’s embedded systems offerings and quickly increases Digi’s market reach with a comprehensive LoRaWAN suite consisting of gateways, network server solutions, SaaS Portfolio, and embedded modules.

Product Launches and Expansions:

May-2022: GE released Lifespan, the latest digital product offering allowing customers to operate across their fleet and optimize renewable asset performance. The Product suite is launched to work out remarkable challenges for GE’s customers and across GE’s service fleets.

May-2022: Nokia launched IMS Voice Core, a cloud-native product that helps communication service providers (CSPs) ease their network operation, decrease the cost and increase the operational agility of managing their network. This product considerably decreases upgrade and installation time and furthermore offers configuration and automated deployment and lowers costs through operational expansion of life cycle management.

Jan-2022: Digi International launched version 450 MHz of the Digi IX20 cellular router for utilities and critical infrastructure applications. This product would be necessary for a vast range of rural and urban IoT connectivity requirements by offering enhanced coverage and signal penetration, consisting of underground and in-building/indoor deployments.

Scope of the Study

Market Segments covered in the Report:

By Component

• Hardware

• Software

By Utility Type

• Public

• Private

By Application

• Transmission & Distribution

• Oil & Gas Utilities

• Others

By Technology

• Wired

• Wireless

By End-user

• Residential

• Commercial

• Industrial

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• Fujitsu Limited

• Schneider Electric SE

• General Electric (GE) Co.

• Siemens AG

• Motorola Solutions, Inc.

• Xylem, Inc. (Sensus)

• Itron, Inc.

• Trilliant Holding Inc.

• Digi International Inc.

• Nokia Corporation

Unique Offerings

• Exhaustive coverage

• Highest number of market tables and figures

• Subscription based model available

• Guaranteed best price

• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06412093/?utm_source=GNW

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