Schneider Electric (France) and General Electric (US) are leading players In Utility Communication Market
The utility communication market is expected to grow from an estimated in USD 20.2 billion in 2022 to USD 26.1 billion by 2027, at a CAGR of 5.3% during the forecast period. Focus on improving grid reliability, increasing operating efficiency, and reducing outage length are expected to be the primary drivers of the market.
A few major players that have a wide regional presence dominate the utility communication market. The leading players in the utility communication market include Hitachi Energy Ltd (Switzerland), Schneider Electric (France), Siemens (Germany), General Electric, and Motorola Solutions, Inc (US).
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The major strategies adopted by these players include contracts & agreements, investments & expansions, mergers & acquisitions, joint ventures, and partnerships & collaborations. Contracts & agreements and investments were the two most commonly adopted strategy from 2017 to 2022.
Schneider Electric manufactures electrical power products to deliver digital energy and automation solutions for efficiency and sustainability. The company operates through 2 business segments, namely, Energy Management and Industrial Automation. It offers utility communication technologies through the Energy Management business segment. The Energy Management business segment is further sub-segmented into Low Voltage, Medium Voltage, and Secure Power. These subsegments cater to the demands of various end users, such as buildings, infrastructures, industries, and data centers. The medium Voltage subsegment offers distribution automation products, such as switchgears, capacitors, control capacitor banks, voltage regulators, electrical network protection devices, and transformers. Schneider Electric has presence in 100 countries, with 191 manufacturing plants and 97 distribution centers located mainly across North America, Europe, and Asia Pacific. The company sells its products directly to end users or through distributors, integrators, and OEMs.
General Electric (GE) is a multinational conglomerate manufacturing products and services for various end-use sectors, such as aviation, power generation, oil & gas, medical, financial, and industrial. The company offers a wide range of products and services, from aircraft engines, power generation, transmission & distribution, water processing, and household appliances to medical imaging, business and consumer financing, and industrial products. It operates through 5 business segments, namely, Power, Renewable Energy, Aviation, Capital, and Healthcare. The Renewable Energy business segment offers grid solutions, including utility communication technologies. The renewable energy business segment has been further sub-segmented into Onshore Wind, Offshore Wind, Grid Solutions Equipment and Services, Hydro Solutions, Hybrids Solutions. The Power and Renewable Energy business segments support electricity generation for critical hospitals, healthcare facilities, and homes and businesses. GE has presence across 170 countries. It has 94 manufacturing plants located in 30 states in the US and Puerto Rico and 190 manufacturing plants located in 37 other countries. The company has global presence in regions such as North America, Europe, the Middle East & Africa, and Asia Pacific.
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Utility Communication Market by Technology (Wired, Wireless), Utility (Public, Private), Component (Hardware, Software), Application (Oil & Gas, Electricity T&D), End-User (Residential, Commercial, Industrial) and Region - Global Forecast to 2027
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