San Francisco, California, Feb 01, 2018– An efficient communications network is integral to modern power systems, without which they simply would not work. The utility communication network conveys information to remotely control unmanned stations, transfer data, and load values from nodes in a power grid to the control center. For these eminent needs, the Utility Communication Market is prospering. According to a fresh business market intelligence study by TMR Research, the demand in the global utility communication market will expand at an impressive pace over the forecast period between 2017 and 2025.
The market is gaining traction from the rising demand for smart grid systems for distribution of utilities, which is likely to stand in a good stead in the future. The installation of smart grids equipped with state-of-the-art utility communication technology offers benefits to both providers as well as customers.
Smart grids offer a number of advantages which include easy monitoring and automation of distribution of utilities. Each node in a smart grid system is equipped with advanced sensors, which allows minor changes in individual receiving unit to accurately reflect in the bill. Such advances in billing mechanisms are gaining popularity and are likely to fuel adoption of smart grid technology in utility distribution, leading to demand from the utility communication market.
Several governments around the world have embraced the adoption of smart grid power systems, as these systems help minimize energy loss, which indirectly translates into economic advantage. Public energy companies are focusing on to deploy advanced metering infrastructure, which includes smart meters and other electronic devices that facilitate two-way communication and data transfer between utilities and end-users. Smart meters are useful to address power theft, fraud, wrong billing, late payment adjustments, and meter reading costs which are some of the drawbacks of traditional meters.
Apart from this, the emergence of a smart city is also stoking growth of utility communication market. Smart city is equipped with hi-tech interconnected systems which makes installation of utility communication systems easier.
The report provides in-depth analysis of the factors governing the utility communication market. It examines growth drivers, restraints, and opportunities and their implications for the demand in the utility communication market. The report bifurcates the market into various segments in order to assess the profitability of various aspects of the market. The report divides the utility communication market into key geographies and evaluates each region along with key countries to showcase their lucrativeness in terms of demand for utility communication systems. Finally, the report includes a chapter covering the competitive landscape of the global utility communication market, wherein prominent companies have been profiled for their business overview, geographical presence, product portfolio, and recent technological developments.
The utility communication market could be studied based on a few parameters, viz. utility type, technology type, and region. Based on technology type, wired technology and wireless technology could be the segments that could divide the utility communication market. By utility type, public utility and private utility are the segments that could divide this market. Geographically, the report takes stock of the potential of demand for utility communication in North America, Asia Pacific, Europe, and Rest of the World. Asia Pacific is anticipated to continue to lead the utility communication market in the forthcoming years thanks to the popularity of smart grid systems that have minimized unforeseen power outages and provide power consumption data in real-time.
Key companies operating in the global utility communication market include General Electric, Comnet, Valiant Communications, ZTE Corporation, Texas Instruments, Schneider Electric, Motorola Solutions Inc., Cisco Systems Inc., Fujitsu, Ericsson, and open Systems International.
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