Utility Communication Global Market Report 2024

Description

Utility Communication Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on utility communication market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
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Where is the largest and fastest growing market for utility communication? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The utility communication market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

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
Companies Mentioned: Schneider Electric SE; Siemens Aktiengesellschaft; General Electric Company; DIGI International Inc.; ZTE Corporation
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Utility communications encompass the procedures dedicated to establishing interactive communication channels between utility providers and end-users throughout the networked data points in use. These networks play a vital role in enhancing transmission reliability and resilience by facilitating real-time situational awareness and control.

Two primary technologies employed in utility communication are wired and wireless systems. Wired communication involves data exchange among devices through physical connections. This method utilizes ethernet and fiber-optic cables to transmit electrical signals between points. It finds applications in both public and private utility sectors and consists of essential components such as hardware and software. Wired communication is deployed across various sectors including transmission and distribution, as well as within industries like oil and gas. It caters to diverse end-users including residential, commercial, and industrial entities.

The utility communication market research report is one of a series of new reports from The Business Research Company that provides utility communication market statistics, including utility communication industry global market size, regional shares, competitors with a utility communication market share, detailed utility communication market segments, market trends and opportunities, and any further data you may need to thrive in the utility communication industry. This utility communication market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The utility communication market size has grown strongly in recent years. It will grow from $20.91 billion in 2023 to $22.96 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. During the historical period, growth can be credited to initiatives aimed at modernizing grids, programs facilitating demand response, heightened awareness regarding cybersecurity, efforts focused on customer engagement, the necessity for compliance with regulatory standards, and the global expansion of utility operations.

The utility communication market size is expected to see rapid growth in the next few years. It will grow to $34.86 billion in 2028 at a compound annual growth rate (CAGR) of 11.0%. The anticipated growth in the upcoming forecast period is linked to heightened interconnectivity, a surge in distributed energy resources, initiatives promoting smart cities, a stronger emphasis on environmental sustainability, and the trend towards grid decentralization. Key trends expected during this period encompass the adoption of 5G technology, integration with IoT devices, international collaboration to establish standards, the integration of artificial intelligence in grid management, and the utilization of data analytics for predictive maintenance.

The escalating demand for smart grids is anticipated to drive the growth of the utility communication market. Smart grids, integrating automation, communication, and information technology, enable real-time monitoring and regulation of power flows from supply points to consumption. This enhanced operational efficiency is favored by the use of distributed smart sensors, real-time measurements, and monitoring systems. In September 2022, the International Energy Agency reported a 6% increase in electricity grid investments, reaching $309 billion in 2021, reflecting the growing interest in smart grid technologies. The surge in demand for smart grids is consequently fueling the expansion of the utility communication market.

The utility communication market is poised for growth due to the rising energy consumption levels. Energy consumption, referring to the total energy used over a specific period, is a crucial measure for various sectors. Utility communication plays a pivotal role in optimizing and managing energy consumption by facilitating real-time communication between providers and consumers. Smart grids, an integral part of utility communication, utilize advanced technologies to collect data on energy consumption patterns. In 2022, Enerdata forecasted final energy consumption to reach 107 Mtoe by 2030, reflecting an increase from 66 Mtoe in 2021. This growing energy consumption is a key driver for the utility communication market as it enables efficient monitoring, control, and coordination of energy distribution.

Technological advancements are emerging as key trends in the utility communication market, providing a competitive edge to key players. The market is witnessing the implementation of advanced technologies such as IoT, Web 2.0, and real-time monitoring. In March 2021, Itron Inc. launched the eHZ-B Smart Meter, designed with advanced features to assist utilities in transitioning to a low-carbon, reliable energy supply. This includes two-way communication between utilities and consumers, ensuring a smart and interconnected distribution network. The incorporation of next-generation encryption in the eHZ-B Smart Meter by Itron reflects the ongoing technological advancements in the utility communication market, reinforcing its significance in the evolving landscape.

Major players in the utility communication market are actively pursuing strategic partnerships to enhance their market position. A business strategic partnership involves a structured affiliation between two or more commercial enterprises, often established through business agreements or contracts. An illustrative example occurred in October 2023 when Sekisui Chemical, a Japan-based plastics manufacturer, entered into a partnership with LATYS Intelligence Inc., a Canada-based wireless infrastructures company. This collaboration is focused on the development of wireless networking solutions for WiFi, 5G, and 6G in the next-generation telecommunications field.

In August 2022, Motorola Solutions, a US-based telecommunications equipment, software, and systems services provider, successfully acquired Barrett Communications for an undisclosed amount. This strategic move not only expands Motorola Solutions' portfolio but also strengthens its global presence, showcasing a commitment to innovation and leadership in the realm of mission-critical communications. Barrett Communications, based in Australia, is recognized for providing tactical high-frequency, extremely high-frequency, and commercial high-frequency communications equipment.

Major companies operating in the utility communication market report 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, Mitsubishi Corporation, Emerson Electric Co., Yokogawa Electric Corporation, Inductive Automation LLC, AVEVA Group PLC, Tatsoft LLC, Advantech Co. Ltd., Mitsubishi Electric Corporation

Asia-Pacific was the largest region in the utility communication market share in 2023. The regions covered in the utility communication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the utility communication market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The utility communication market consists of revenues earned by entities by providing distribution management, tele-protection, supervisory control and data acquisition (SCADA), energy management, outage management, smart metering, and substation automation. The market value includes the value of related goods sold by the service provider or included within the service offering. The utility communication market also includes sales of optical fiber, PLC (programmable logic controller) and ethernet that are used in providing utility communication services. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r13128

1. Executive Summary

2. Utility Communication Market Characteristics

3. Utility Communication Market Trends And Strategies

4. Utility Communication Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Utility Communication Market Size and Growth

5.1. Global Utility Communication Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Utility Communication Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Utility Communication Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Utility Communication Market Segmentation

6.1. Global Utility Communication Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Wired
Wireless
6.2. Global Utility Communication Market, Segmentation By Utility, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Public
Private
6.3. Global Utility Communication Market, Segmentation By Components, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Hardware
Software
6.4. Global Utility Communication Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Transmission and Distribution
Oil and Gas
6.5. Global Utility Communication Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Residential
Commercial
Industrial

7. Utility Communication Market Regional And Country Analysis

7.1. Global Utility Communication Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Utility Communication Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Utility Communication Market

8.1. Asia-Pacific Utility Communication Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Utility Communication Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Utility Communication Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Utility Communication Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Utility Communication Market

9.1. China Utility Communication Market Overview
9.2. China Utility Communication Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Utility Communication Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Utility Communication Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Utility Communication Market

10.1. India Utility Communication Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Utility Communication Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Utility Communication Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Utility Communication Market

11.1. Japan Utility Communication Market Overview
11.2. Japan Utility Communication Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Utility Communication Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Utility Communication Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Utility Communication Market

12.1. Australia Utility Communication Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Utility Communication Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Utility Communication Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Utility Communication Market

13.1. Indonesia Utility Communication Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Utility Communication Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Utility Communication Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Utility Communication Market

14.1. South Korea Utility Communication Market Overview
14.2. South Korea Utility Communication Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Utility Communication Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Utility Communication Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Utility Communication Market

15.1. Western Europe Utility Communication Market Overview
15.2. Western Europe Utility Communication Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Utility Communication Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Utility Communication Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Utility Communication Market

16.1. UK Utility Communication Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Utility Communication Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Utility Communication Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Utility Communication Market

17.1. Germany Utility Communication Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Utility Communication Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Utility Communication Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Utility Communication Market

18.1. France Utility Communication Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Utility Communication Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Utility Communication Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Utility Communication Market

19.1. Italy Utility Communication Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Utility Communication Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Utility Communication Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Utility Communication Market

20.1. Spain Utility Communication Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Utility Communication Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Utility Communication Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Utility Communication Market

21.1. Eastern Europe Utility Communication Market Overview
21.2. Eastern Europe Utility Communication Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Utility Communication Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Utility Communication Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Utility Communication Market

22.1. Russia Utility Communication Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Utility Communication Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Utility Communication Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Utility Communication Market

23.1. North America Utility Communication Market Overview
23.2. North America Utility Communication Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Utility Communication Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Utility Communication Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Utility Communication Market

24.1. USA Utility Communication Market Overview
24.2. USA Utility Communication Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Utility Communication Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Utility Communication Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Utility Communication Market

25.1. Canada Utility Communication Market Overview
25.2. Canada Utility Communication Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Utility Communication Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Utility Communication Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Utility Communication Market

26.1. South America Utility Communication Market Overview
26.2. South America Utility Communication Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Utility Communication Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Utility Communication Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Utility Communication Market

27.1. Brazil Utility Communication Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Utility Communication Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Utility Communication Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Utility Communication Market

28.1. Middle East Utility Communication Market Overview
28.2. Middle East Utility Communication Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Utility Communication Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Utility Communication Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Utility Communication Market

29.1. Africa Utility Communication Market Overview
29.2. Africa Utility Communication Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Utility Communication Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Utility Communication Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Utility Communication Market Competitive Landscape And Company Profiles

30.1. Utility Communication Market Competitive Landscape
30.2. Utility Communication Market Company Profiles
- 30.2.1. Schneider Electric SE
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Siemens Aktiengesellschaft
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. General Electric Company
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. DIGI International Inc.
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. ZTE Corporation
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Utility Communication Market Competitive Benchmarking

32. Global Utility Communication Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Utility Communication Market

34. Utility Communication Market Future Outlook and Potential Analysis

34.1 Utility Communication Market In 2028 - Countries Offering Most New Opportunities
34.2 Utility Communication Market In 2028 - Segments Offering Most New Opportunities
34.3 Utility Communication Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer