Utility Communication Market Size Worth $50.50 Billion By 2032 | CAGR: 8.7%

Utility Communication Market Size Worth $50.50 Billion By 2032 | CAGR: 8.7%

The global utility communication market size is expected to reach USD 50.50 billion by 2032, according to a new study by Polaris Market Research. The report “Utility Communication Market Share, Size, Trends, Industry Analysis Report, By Technology (Wires and Wireless); By Utility; By Application; By End-User; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The exponential growth of the digital revolution and rapid increase in the usage of various digital devices and social networks across the globe, that has not only led the innovation of products including utility communication but also influencing the implementation of these products into their infrastructure, are among the major factors escalating the global market growth and demand.

Furthermore, major developing nations like China and India have wind-based solar power generation and are heavily investing in infrastructure and modification of nations aging power infrastructure, thereby creating huge growth opportunities for the global market.

For instance, in May 2022, Ericsson, established “Global Utilities Innovation Center” at its, Texas facility. The new facility will allow and enable utilities in collaboration with the Ericsson and its partners to tackle & solve real-time world connectivity challenges. This center is a state-of-the-art facility to work closely with the utility companies.

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Recently, various large utilities that have significantly invested in digitalization and adding outage management systems as a part of overall communication development, as these software tools allow personnel to access the data of a connected network to determine when and where outage have occurred with accuracy. The communication tools integrated in OMS allow offices to connect with lineman and many other field personnel while dealing with the field team to tackle problems and sending information directly form the centralized network.

Utility Communication Market Report Highlights

  • Wired segment accounted largest market share in 2022, owing to several beneficial features such as faster data transfer and less interference
  • Public utilities segment held the significant market revenue share, which is highly attributable to the increasing number of favorable government initiatives and privileges
  • Transmission & distribution segment is likely to grow at a high CAGR over the projected period on account on increasing replacement of existing power infrastructure from innovative solutions
  • Commercial segment dominated the global market in 2022, which is mainly driven by rapid growth in the infrastructure development and high adoption of less energy consumable solutions
  • Asia Pacific region is likely to emerge as fastest growing region and expand at considerable growth rate, due to rising deployment of real-time monitoring and efficient monitor consumption solutions in the region
  • The global key market players include Hitachi Energy Ltd., Ribbon Communications Operating Company, Motorola Solutions Inc., Siemens Electric, and Valiant Communications.

Polaris Market Research has segmented the utility communication market report based on technology, utility, application, end-user, and region:

Utility Communication, Technology Outlook (Revenue - USD Billion, 2019 - 2032)

  • Wired
  • Wireless

Utility Communication, Utility Outlook (Revenue - USD Billion, 2019 - 2032)

  • Public
  • Private

Utility Communication, Application Outlook (Revenue - USD Billion, 2019 - 2032)

  • Transmission & Distribution
  • Oil & Gas Utilities
  • Others

Utility Communication, Application Outlook (Revenue - USD Billion, 2019 - 2032)

  • Residential
  • Commercial
  • Industrial

    Utility Communication, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa