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
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Utility Communication Market: Strategic Insights
Market Size Value in US$ 10,730.4 Million in 2019 Market Size Value by US$ 35,138.1 Million by 2027 Growth rate CAGR of 16.3% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
Naveen
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
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Utility Communication Market: Strategic Insights
| Market Size Value in | US$ 10,730.4 Million in 2019 |
| Market Size Value by | US$ 35,138.1 Million by 2027 |
| Growth rate | CAGR of 16.3% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
Naveen
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
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
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Technology ; Utility Type
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
During the forecast period, the public utility segment is expected to dominate the market due to the fact that public services usually operate through local, state, and national government bodies. Public utilities are focused on improving their infrastructure to remain competitive in the industry, with breakthroughs in communication technology. Moreover, public utilities dominate the market as they receive government grants, incentives, and supportive policies to provide the public with all the essential services and facilities, such as water, power, transportation, and sewage treatment.
Increased use of smart grids and mobile devices are driving the growth of utility communication market. Smart grids facilitate quicker restoration of electricity after power disturbances, and help reduce management and operational costs of utilities; this ultimately lowers power costs for consumers. Moreover, various initiatives advancing the technological landscape pertaining to the energy sector are also likely to drive market growth during the forecast period.
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.
The utility communication market was dominated by North America due to developed economies such as the US, Canada, and Mexico. The technological advancements across North America have led to a highly competitive market. In North America, the grid control is becoming one of the major priorities among operators in response to growing energy requirements and reduced utilization of renewable energy. Owing to this, several utilities in the region are focusing on integrating, modernizing, and securing their grid control systems. Whereas, modernizing these systems need advanced technologies and greater connectivity, which in turn leads to increased cyber security risk. Thus, the operators are required to monitor threats in real-time, analyze potential risks, and execute defenses, in order to ensure the stability of operations. Thus, the technological advancement coupled with significant investments in developing smart grid infrastructure across the region is propelling the growth of utility communication market.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Trends and growth analysis reports related to Utility Communication Market
Apr 2020
Robotic Crawler Camera System Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component [Hardware (Cameras, Crawlers, Cable Drums, Control Units, and Others), Software, and Service], Application (Drain Inspection, Pipeline Inspection, and Tank Void Capacity or Conduit Inspection), and End User (Residential, Commercial, Municipal, and Industrial)
Apr 2020
Inertial Sensor for Land Defense Systems Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Technology (FOG, MEMS, and Others) and Application (Stabilization Missile Systems, Stabilization Turret-Cannon Systems, Land Navigation Including Land Survey, Missile GGM-SSM, Stabilization Active Protection System, Stabilization of Optronics System, and Others)
Apr 2020
Drone Lithium Battery Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis By Battery Type (Li-ion, Li-Po, and Li-S), Battery Capacity (Below 3,000 mAh; 3,000–5,000 mAh; and Above 5,000 mAh), Drone MTOW (Below 100 Kgs, 100–200 Kgs, and Above 200 Kgs), Wing Type (Fixed Wing and Rotary Wing), and End Use (Military and Commercial)
Apr 2020
ASRS for Garments on Hangers Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis By Type (Garment Rail System, Garment Conveyor, Garment Property Storage, and Others) and Application (Warehousing and Logistics, Retail 3PL, Hotels, Hospitals and Institutes, and Others)
Apr 2020
Analog to Digital Converter Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Integrating Analog to Digital Converters, Delta-Sigma Analog to Digital Converters, Successive Approximation Analog to Digital Converters, Ramp Analog to Digital Converters, and Others), Resolution (8-Bit, 10-Bit, 12-Bit, 14-Bit, 16-Bit, and Others), and Application (Industrial, Consumer Electronics, Automotive, Healthcare, Telecommunication, and Others)
Apr 2020
Laser Distance Sensor Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Distance (Between 2 and 10 Meters, Between 11 and 100 Meters, Between 101 and 200 Meters, and Between 201 and 500 Meters), Accuracy (1 mm at 2 Sigma, 3 mm with 2 Sigma, and 5 mm at 2 Sigma), and End User (Manufacturing, Construction, Automotive and Robotics, Aerospace and Defense, Geospatial Industry, and Others)
Apr 2020
Rugged Tablet Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis By Type (Fully Rugged Tablet, Semi Rugged Tablet, and Ultra Rugged Tablet); Operating System (Android, Windows, and iOS); and Application (Aerospace & Defense, Automotive, Construction, Energy & Utilities, Manufacturing, Oil & Gas, and Others)
Apr 2020
Rear Door Heat Exchanger Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Active and Passive) and End User (Data Center, IT and Telecommunication, Semiconductor, Education, Government, and Others)