Utility Communication Market Developments and Forecast by 2031

The utility communication market size is projected to reach US$ 32.28 billion by 2031 from US$ 21.16 billion in 2023. The market is expected to register a CAGR of 5.4% in 2023–2031. The evolution of the Industry 4.0 concept and the growing number of renewable energy projects are likely to remain a key utility communication market trends.

Utility Communication Market Analysis

The utility communication market is growing at a rapid pace due to the growing need for billing process modification surged the demand for personalized communication networks and the increasing demand for distributed energy resources (DER). The market is expanding steadily, driven by favorable government initiatives and investment to promote to development of power infrastructure. Moreover, the development of smart grid infrastructure and the rising adoption of technologically advanced systems integrated with the Internet of Things (IoT) and artificial intelligence (AI) are providing lucrative opportunities for market growth.

Utility Communication Market Overview

Utility communication is systems that ensure more reliable, secure, and safe transmission of data, video, and voice across WANs and LANs. This communication system offers users the benefits of easy installation in hazardous locations. The utility communication system works by using numerous networks, including video surveillance, smart grid, supervisory control & data acquisition (SADA) system, and ethernet-based connectivity. Moreover, the growing demand for wired and wireless communication systems by utility for monitoring power consumption and distribution is boosting the market during the forecast period.

Customize This Report To Suit Your Requirement

You will get customization on any report - free of charge - including parts of this report, or country-level analysis, Excel Data pack, as well as avail great offers and discounts for start-ups & universities

Get FREE CUSTOMIZATION

Utility Communication Market: Strategic Insights

• Get Top Key Market Trends of this report.
  This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.

Free Sample PDF

Utility Communication Market Drivers and Opportunities

Growing Need for Billing Process Modification Surged the Demand for Personalized Communication Networks is Driving the Market

Utility bills are the primary method used by utilities for informing individuals about their electricity consumption, followed by bill payments from consumers. The bills are also used to inform and remind consumers of their outstanding amounts from earlier usage. The modification of billing systems makes it easier to track consumers with bad debt or those engaging in fraudulent operations. These modifications encourage market players to launch new innovative accounting solutions for a variety of applications. For example, the Siemens EnergyIP Meter Data Management (MDM) program streamlines smart meter data management business operations. Its extensive collection of tools enables utilities to handle conventional use cases, such as meter-to-cash billing data and emergent use cases, which leverage loT-driven data from registers, times, and time-of-use to serve a variety of mission-critical business applications. Furthermore, distributed power generation and multiple distribution lines make the invoicing process more complex and prone to errors. This is increasing demand for the standardization and automation of utility communication billing and bill payment methods, resulting in a desire for individualized communication networks.

Development of Smart Grid Infrastructure - An Opportunity in the Utility Communication Market

Smart grid infrastructure is crucial in the communications industry of energy and power utilities. A smart grid influences ICT to converge and allow for the flow of real-time information between power utilities and their suppliers, partners, and commercial and residential customers operating inside power utilities. The implementation of smart grids heavily relies on a strong, secure, highly ascendable, and constant availability of communication network. An effective communication network has the willingness to increase service efficiency by allowing the utility industry to assure regulatory compliance and reduce the negative effects of cost-cutting measures.  Thus, the utility communications network serves as the foundation of a two-way connection between systems with all data points. It helps utility operators to track and manage grid equipment, measure network output, and provide real-time data. Hence, the expanding use of smart grid systems in the utility communications sector is expected to create opportunities for the worldwide utility communication market during the forecast period.

Utility Communication Market Report Segmentation Analysis

Key segments that contributed to the derivation of the utility communication market analysis are technology and utility type.

• Based on technology, the utility communication market is divided into wired and wireless. The wired segment is further subsegmented into optic fiber, power line carrier (PLC), ethernet, other technology types. The wired segment held a larger market share in 2023.
• In terms of utility type, the utility communication market is categorized as private utility and public utility. The public utility segment held a larger market share in 2023.

Utility Communication Market Share Analysis by Geography

The geographic scope of the utility communication market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.

The market in Asia Pacific is projected to expand during the forecast period, due to the expanding utility industry and the growing demand for smart city infrastructure. Governments of various nations, including China, India, Japan, and others, are making significant investments to develop and upgrade existing power infrastructure. Moreover, the growing demand for real-time monitoring, power consumption, and reducing outages surging the demand and incorporation of utility communication networks. Moreover, the rising adoption of the Internet of Things (IoT) and artificial intelligence (AI) technologies to automate the utility communication system is expected to create opportunities for market growth.

Utility Communication Market News and Recent Developments

The utility communication market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for utility communication and strategies:

• In July 2022, The Truckee Donner Public Utility District (TDPUD) unveiled a new Outage Management System, which will improve the timeliness and accuracy of outage communication with customers. The TDPUD has committed to providing this community with the best power and water service possible and continuing to reinvest rate-payer dollars back into our utilities and infrastructure. (Source: Truckee Donner Public Utility District (TDPUD), Press Release, 2022)
• In March 2021, Itron Inc. announced the launch of its eHZ-B residential smart meter for utilities and cities in Germany. The latest addition to Itron’s proven 3.HZ FNN-compliant portfolio, the eHZ-B smart meter is built with advanced functionality to support Germany’s ongoing energy transition to a low carbon, environmentally sound, reliable, and affordable energy supply and equip utilities and cities to safely migrate to a smart and connected distribution network. (Source: Itron Inc., Press Release, 2021)

Utility Communication Market Report Coverage and Deliverables

The “Utility Communication Market Size and Forecast (2023–2031)” report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles

Utility Communication Market Regional Insights

The regional trends and factors influencing the Utility Communication Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Utility Communication Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Utility Communication Market Report Scope

Utility Communication Market Players Density: Understanding Its Impact on Business Dynamics

The Utility Communication Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Utility Communication Market are:

1. ABB Ltd
2. FUJITSU LIMITED
3. General Electric Company
4. Honeywell International Inc
5. OMICRON Electronics GmbH
6. Rockwell Automation

Disclaimer: The companies listed above are not ranked in any particular order.