The utility communication market is expected to grow at a CAGR of 15.55%, from 2016 to 2021, to reach a market size of USD 15.45 billion by 2021. Modification in billing practices in power utility companies, stringent regulatory requirements for power utilities, and increasing investments in smart grids are the major drivers of the utility communication market. —
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The utility communication market is dominated by a few major players that have a wide regional presence and are established brand names. Leading players in the utility communication industry, such as ABB, Ltd. (Switzerland), Siemens AG (Germany), Schneider Electric (France), General Electric (U.S.), and Ericsson (Sweden), have acquired regional companies operating in the utility communication market to bolster their product portfolio.
With regard to the technology type segment, mobile network technology, under the wireless segment, is expected to constitute the fastest growing market from 2016 to 2021. This technology offers a low cost solution for controlling and monitoring the overall distribution automation system. This technology provides communication between smart meters and utilities through nodes. The various advantages of mobile network technology also include lesser capital costs, reliability, security, and faster deployment. On the other hand, power line carrier (PLC) technology, under the wired segment, was the largest market in 2016. PLC enables the use of existing infrastructure to transfer data and information over power lines.
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The report segments the utility communication market, based on utility type, into private and public utility. Although public utility is the largest market for utility communication, the private utility segment is expected to grow at the fastest rate during the forecast period. Public utilities are state-owned or municipal-owned and are publicly listed companies. They are subject to public control and regulations. On the other hand, private utilities are business organizations managed as private enterprises without any interference by governments.
Asia-Pacific is estimated to be the fastest growing market for utility communication from 2016 to 2021. Escalating demand for electricity and smart grid deployment in countries such as Japan, Australia, China, South Korea, and India are driving the demand for utility communication in this region. The growing power sector in India is also expected to spur the growth of the market, and represents a promising opportunity for major utility communication providers. China is expected to grow at the fastest rate during the forecast period. Countries such as Japan and India are also expected to witness significant growth during the same period.
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