Utility Communication Market to 2027 - COVID-19 Impact and Global Analysis and Forecasts by Technology (Wired and Wireless); Utility Type (Private Utility and Public Utility)
Publication Month: Apr 2020 | Report Code: TIPRE00009082 | No. of Pages: 191 | Category: Electronics and Semiconductor | Status: Published
The utility communication market was valued at US$ 10,730.4 million in 2019 and is projected to reach US$ 35,138.1 million by 2027; it is expected to grow at a CAGR of 16.3% during 2020–2027.
Utility communication is a communication network that can ensure the continuous transmission of voice, data, and video through LANs and WANs, not only in a safe but also consistent and efficient manner. It is the groundwork on which contact between the utility's data points can take place. Some of the most commonly used systems are Ethernet network control and data collection, SCADA and smart grid control. Individuals and companies alike are welcoming the digital transition. Digital transformation can be described as the use of technology to enhance company efficiency or scope. Digital technologies and social networks are increasingly being used nowadays to improve interaction between government, corporations, civil society, friends, and family.
Additionally, the smart grid infrastructure plays a critical role in the communications business of energy & power utilities. A smart grid influences ICT to converge and enable the flow of real-time information within the power utilities, between the power utilities and their suppliers and partners, and between the power utilities and their business and domestic customers. Smart grids and their implementations rely on a robust, secure, highly ascendable and always available communications network. Owing to the willingness to improve service efficiency, service providers will also ensure regulatory enforcement and mitigate the detrimental effect of cost-cutting problems. Thus, the utility communications network is the basis for two-way communication through the system to all the data points. It assists in tracking and managing grid equipment, measuring network output, and providing real-time information. In terms of industrialization, there is a correlation between the energy demands of modern society, the economic realities of the utility sector, and the environmental protection standards. This combination forces a new form of a power system to be developed and introduced. The growing usage of smart grid systems in the utility communications industry is driving the global utility communication market overall growth rate due to its widespread application in various industries, especially the energy and power industries. The contact network forms the foundation of all logical, smart factories. Hence ensuring its safe and efficient operation is the prerequisite for the successful realization of the dream of Industry 4.0.
Impact of COVID-19 on Utility Communication Market
Coronavirus outbreak first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. As of March 2020, China, Italy, Iran, Spain, republic of Korea, France, Germany, and The US are some of the worst affected countries in terms confirmed cases and reported deaths. According to the latest WHO figures, there are ~11, 33, 758confirmed cases and 62,784 total deaths globally. The coronavirus outbreak has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global information and communication technology industry is one of the major industry that is suffering serious disruptions such as supply chain breaks, technology events cancellations, office shutdowns etc. as a result of this outbreak. For instance, China is the global hub of manufacturing and largest raw material supplier for various industries and it is also one of the worst affected countries. The lockdown of various plants and factories in China is affecting the global supply chains and negatively impacting the manufacturing, delivery schedules, and sales of various electronic goods. The most striking effect of COVID-19 in the ICT sector was the cancelation of the Mobile World Congress scheduled to take place in Barcelona on 24-27 February. Companies such as Apple and Microsoft have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia, and North America are affecting the business collaborations and partnerships opportunities. All these factors are anticipated to affect the information and communication technology industry in a negative manner and thus act as restraining factor for the growth of various markets related to this industry in the coming months.
Lucrative Regions for Utility Communication Market
Get more information on this report :
Market Insights–Utility Communication Market
Escalating Demand for Personalized Communication Networks due to Modifications in Billing Process
Utility bills are the primary means adopted by utilities for informing people about their electricity consumption, which is followed by bill payments by the consumers. The bills also serve the purpose of reminding customers about their due amounts from their previous usage. With the modification in billing procedures, the tracking of customers with bad debt or those who are involved in fraudulent activities becomes easier. These modifications have also led to the introduction of creative accounting options and introduction of various applications by the market players. For example, the Siemens EnergyIP Meter Data Management (MDM) application automates smart meter data management business processes. Its comprehensive set of tools helps utilities to handle conventional use cases, such as meter-to-cash billing data, along with emerging use cases using IoT-driven data from registers, times, and time-of-use, to support a number of mission-critical business applications. Further, the distributed power generation and multiple distribution channels subject the billing process to more significant complexities and vulnerabilities to error. This is generating higher demand for the standardization and automation of the utility communication billing and bill payment methods, thus driving the demand for personalized communication network.
Technology Insights- Utility Communication Market
Based on technology the utility communication market is segmented into wired and wireless. Wired network is used to relay different types of electrical signals from one end to the other. Using T1 thread, cable modem, or by some other means, often in wired networks, an internet connection is taken. Using a wired network definition, this connection is shared between multiple devices. Power Line Carrier (PLC) communication has gained the confidence of wired communication network users when it comes to robustness in access, efficiency and security with the advancement of more efficient PLC technologies led by PRIME PLC over the past decade, and the latest development of PRIME 1.4 technology.
Utility Type Segment Insights
Based on utility type the utility communication market is segmented into public utilities and private utilities. Private utility networks have long followed the technical footsteps of public carrier networks. Public carriers are continuously moving to add infrastructure and resources to meet consumer requirements. Since private networks need to be highly secure, they cannot risk being at the forefront of technology. They lack the presence of the much larger national carriers and their financial power. Private networks are designed to be very predictable and are anticipated for use-specific applications such as tele protection and SCADA. Since central controllers make traffic more accessible in the system, they improve protection by detecting anomalies at the source. Non-conforming traffic may be automatically flagged and submitted for review, rather than spread across the network.
Strategic Insights
The market players focus on new product innovations and developments by integrating advanced technologies and features in their products to compete with the competitors.
- 2020- Verizon collaborated with Honeywell to help utilities speed up and simplify the deployment of new communication-enabled, intelligent sensors and controls for the smart electric grid. Honeywell would be integrating Verizon’s Managed Connectivity LTE solutions into smart meters and other edge devices.
- 2019- Tejas Networks signed a MoU with Bharat Electronics Limited for using Tejas’ optical transmission, access, and data-switching products for domestic & export market
The Global Utility Communication Market has been segmented as Follows:
Utility Communication Market – by Technology
- Wired
- Optical Fiber
- PLC
- Ethernet
- Others
- Wireless
Utility Communication Market – by Utility Type
- Public Utility
- Private Utility
Utility Communication Market – by Geography
North America
- US
- Canada
- Mexico
Europe
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of APAC
Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
South America
- Brazil
- Argentina
- Rest of South America
Company Profiles
- ABB Ltd
- FUJITSU LIMITED
- General Electric Company
- Honeywell International Inc
- OMICRON Electronics GmbH
- Rockwell Automation, Inc.
- Schneider Electric SE
- Siemens AG
- Tejas Networks
- Telefonaktiebolaget LM Ericsson
Frequently Asked Questions
Further, the distributed power generation and multiple distribution channels subject the billing process to more significant complexities and vulnerabilities to error. This is generating higher demand for the standardization and automation of the utility communication billing and bill payment methods, thus driving the demand for personalized communication network.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the utility communication market, thereby allowing players to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect technology and utility type.
Get the Latest COVID-19 Analysis on this market
Have a Question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
-
$3000
-
$4550 $3640
-
$6550 $5240
-
$8550 $6840
-
Sample PDF showcases the content structure and the nature of the information included in the report which presents a qualitative and quantitative analysis.
Inquire for Discount