Utility Communication Market

Market Leaders - Utility Communication Market

The global utility communication market size is projected to reach USD 23.2 billion by 2026 from an estimated value of USD 18.7 billion in 2021, at a CAGR of 4.4%. The key drivers for the utility communication market include growing investment in smart grids modernization of electricity networks; focus on improving grid reliability, increasing operating efficiency, reducing outage length; consolidating trend of digitalization oilfield communication; and government initiative to support deployment of smart grid technologies.

The key players in the utility communication market include companies such as ABB (Switzerland), Schneider Electric (France), Siemens (Germany), General Electric (US), and Motorola Solutions (US). Major strategies adopted by the players are product launches, contracts & agreements, collaborations, partnerships, and mergers & acquisitions, from January 2018 to March 2021. Contracts was the most commonly adopted strategy.

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ABB is a leading developer of power and automation technologies. The company provides digital solutions to end-use industries by combining electrification, automation, and robotics in its products. It operates through 4 business segments, namely, Electrification, Industrial Automation, Motion, and Robotics & Discrete Automation. Utility communication technologies are offered by the company through the Electrification business segment. ABB, under the Electrification business segment, manufactures and sells electrical products and solutions. This segment offers electric vehicle charging infrastructure, modular substation packages, renewable power solutions, distribution automation products, switchboard and panelboards, switchgear, UPS solutions, measuring and sensing devices, wiring accessories, heating, ventilation, circuit breakers, control products, enclosures and cabling systems, intelligent home and building solutions designed to integrate and automate lighting, security, and data communication networks. The Electrification business segment is further sub-segmented into Smart Power, Distribution Solutions, Smart Buildings, Installation Products, and Power Conversion.

Siemens is one of the leading manufacturers of engineering solutions for automation and control, power, transportation, and medical diagnosis. The company offers automation and digitalization solutions for manufacturing industries, intelligent infrastructure for buildings and distributed energy systems, conventional and renewable power generation and power distribution, smart mobility solutions for rail and road, and medical technology and digital healthcare services. Siemens operates through 6 business segments, namely, Digital Industries, Smart Infrastructure, Mobility, Siemens Healthineers, Siemens Financial Services, and Portfolio Companies. Utility communication technologies are provided under the Smart Infrastructure business segment, which accounted for 24.3% of the revenue of the company in 2020. The Smart Infrastructure business segment offers energy connects systems, building technologies, low- and medium-voltage products and systems, and digital grid solutions. Under low- and medium-voltage products and systems, the company offers products and solutions that can be used for fully automated remote monitoring & controlling applications, high-speed fault location, isolation, and service restoration (FLISR), Volt/VAR Control, and others. The company provides its products to power providers, transmission & distribution operators, industrial companies, infrastructure developers, construction companies, distributors, and OEMs. North America and Asia Pacific are the key markets for the Smart Infrastructure segment.

Related Reports:

Utility Communication Market by Technology Type(Wired and Wireless), Utility Type, Component(Hardware and Software), Application (Oil & Gas Network, T&D), End User (Residential, Commercial, and Industrial) and Region- Global Forecast to 2026

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Report Code
EP 5106
RI Published ON
4/26/2021
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