Utility Communication
The Utility Communication Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Utility Communication Market Size and Projected Growth Rate?
In recent times, a substantial increase has been witnessed in the size of the utility communication market. The growth from $22.45 billion in 2024 to an expected $24.38 billion in 2025 implicates a compound annual growth rate (CAGR) of 8.6%. The key factors driving this growth during the historic period include initiatives towards grid modernization, demand response programs, increased concerns about cybersecurity, customer engagement initiatives, compliance with regulatory requirements and the worldwide expansion of utility operations.
In the coming years, a significant upsurge is anticipated in the utility communication market size, with expectations of touching a valuation of $39.86 billion by 2029, and boasting a compound annual growth rate (CAGR) of 13.1%. The projected ascension within the forecast period can be credited to factors like heightened interconnectivity, proliferation of distributed energy sources, the roll-out of smart city projects, emphasis on ecological preservation, as well as grid decentralization. Key trends forecasted within this period span the uptake of 5g technology, pairing up with Internet of Things (IoT) devices, global standardization efforts, implementation of artificial intelligence for grid control, and the use of data analytics for anticipatory maintenance.
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What Are the Major Segments in the Utility Communication Market?
The utility communication market covered in this report is segmented –
1) By Technology: Wired, Wireless
2) By Utility: Public, Private
3) By Components: Hardware, Software
4) By Application: Transmission And Distribution, Oil And Gas
5) By End-User: Residential, Commercial, Industrial
Subsegments:
1) By Wired: Fiber Optic Communication, Power Line Communication (PLC), Copper Wire Communication
2) By Wireless: Radio Frequency (RF) Communication, Microwave Communication, Satellite Communication, Cellular Communication
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What Are The Driving Utility Communication Market Evolution?
The anticipated surge in smart grid demand is predicted to fuel the expansion of the utility communication market. Smart grids are essentially electrical grids enhanced with automation, communication, and information technology systems, enabling real-time tracking of power flow from supply to consumption points, as well as power regulation or load limitation to match supply. The ever-growing need for operational efficiency has boosted the smart grid demand. The introduction of smart grids allows the use of distributed smart sensors, power generation, real-time measurements and metering infrastructure, and monitoring systems offering instant updates on operations between utilities and consumers. For instance, in September 2022, Enedis, a French utility company operating the electricity distribution network, revealed statistical data planning to ramp up its ad-hoc investments from €4.4 billion in 2022 to over €5 billion by 2032, peaking at €5.5 billion in 2027, following a spike in the construction of electric vehicle charging infrastructure in condominiums. Consequently, the increasing requirement for smart grids is steering the utility communication market’s growth.
Which Firms Dominate The Utility Communication Market Segments?
Major companies operating in the utility communication market are Schneider Electric SE, Siemens Aktiengesellschaft, General Electric Company, DIGI International Inc., ZTE Corporation, Cisco Systems Inc., Black & Veatch Holding Company, Valiant Communications Limited, ABB Ltd., Omicron Electronics GmbH, Hitachi Energy Ltd., Motorola Solutions Inc., Milsoft Utility Solutions Inc., Honeywell International Inc., Rockwell Automation Inc., Texas Instruments Incorporated, Power Systems Engineering Inc., Fujitsu Limited, Xylem Inc., Itron Inc., Trilliant Holding Inc., Nokia Corporation, RAP Data Communications Ltd., SmartMark Communications LLC, Smarter Grid Solutions Ltd., Robert Bosch GmbH, LG Corporation, Emerson Electric Co., Yokogawa Electric Corporation, Inductive Automation LLC, AVEVA Group PLC, Tatsoft LLC, Advantech Co. Ltd., Mitsubishi Electric Corporation
What Trends Are Expected to Dominate the Utility Communication Market in the Next 5 Years?
Technological progress is increasingly becoming a significant trend in the utility communication market. The development of private industrial 5G networks that incorporate specific hardware and software, such as base stations and antennas, empowers businesses to build bespoke wireless communication systems to strengthen control, security, and performance in industrial environments. For example, in September 2023, Siemens, a technology firm based in Germany, declared the inclusion of 5G in their utility communication offerings to upgrade smart grid systems. By harnessing 5G, Siemens expedites the introduction of edge computing and AI technologies, both crucial for predictive maintenance and grid automation. Siemens utilizes 5G for prompt data exchange within smart grids, enhancing efficacy and decision-making. Siemens’ 5G-enabled systems boost grid automation and remote control functionalities, assisting utilities in handling complicated operations such as fault detection and load balancing more efficiently.
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Which Is The Largest Region In The Utility Communication Market?
Asia-Pacific was the largest region in the utility communication market share in 2024. The regions covered in the utility communication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Utility Communication Market?
2. What is the CAGR expected in the Utility Communication Market?
3. What Are the Key Innovations Transforming the Utility Communication Industry?
4. Which Region Is Leading the Utility Communication Market?
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