PUNE, India, March 22, 2017 /PRNewswire/ --
The report "Utility Communication Market, by Technology Type (Wireless (RF Mesh, Mobile Network), and Wired (Power Line Carrier, Optic Fiber, Ethernet), Utility Type, and Oilfield Communications (Network Type) - Global Forecast To 2021", published by MarketsandMarkets, the market is expected to grow from an estimated USD 7.50 Billion in 2016 to USD 15.45 Billion by 2021, registering a CAGR of 15.55%, from 2016 to 2021.
Browse 60 market data Tables and 38 Figures spread across 154 Pages and an in-depth TOC of the "Utility Communication Market"
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The global market is set to witness significant growth due to the increasing use of smart grids and mobile devices, modification in billing practices in power utility companies, and stringent regulatory requirements for power utilities.
The power line carrier (PLC) technology subsegment, within the wired technology segment, is expected to hold the largest share of the Utility Communication Market, by technology, during the forecast period.
The power line carrier (PLC) technology subsegment, within the wired technology segment, led the Utility Communication Market in 2016, and is projected to dominate the market during the forecast period. The segment is expected to grow at the fastest rate during the forecast period. This segment is primarily driven by the increasing number of smart cities projects around the globe. This is expected to create new revenue pockets for the Utility Communication Market during the forecast period. PLC is a communication technology that is capable of being used with the existing electrical infrastructure. This technology plays a critical role in modern communication networks as it transmits electrical data at a faster rate through T&D systems.
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The RF mesh technology subsegment, within the wireless technology segment, is expected to hold the largest share of the Utility Communication Market, by technology, during the forecast period.
The RF mesh technology subsegment, within the wireless technology segment, led the Utility Communication Market in 2016, and is projected to dominate the market during the forecast period. The segment is expected to grow at the fastest rate during the forecast period. This segment is primarily driven by the modernization of ageing infrastructure in developed countries. The growing number of smart grid projects in developing economies, such as China, Japan, Australia, and India, is expected to create new revenue pockets for the Utility Communication Market during the forecast period.
Asia-Pacific: The leading market for utility communication
In this report, the Utility Communication Market has been analyzed with respect to six regions, namely, North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is expected to dominate the global Utility Communication Market, given an increase in the number of smart grid and smart cities projects in countries such as Australia, India, China, Japan, and South Korea.
To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the top players in the Utility Communication Market. These players include ABB, Ltd. (Switzerland), Siemens AG (Germany), Schneider Electric (France), General Electric (U.S.), and Ericsson (Sweden). The leading players are trying to penetrate the markets in developing economies, and are adopting various strategies to increase their market share.
Scope of the report
This study estimates the global market for utility communication, in terms of USD, till 2021. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of major market drivers, restraints, opportunities, challenges, winning imperatives, and key issues. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the Utility Communication Market.
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