The global utility communication market size is projected to grow from an estimated USD 18.7 billion in 2021 to USD 23.2 billion by 2026, at a CAGR of 4.4% from 2021 to 2026

New York, May 04, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Utility Communication Market by Technology Type, Utility Type, Component, Application, End User and Region- Global Forecast to 2026” – https://www.reportlinker.com/p04799015/?utm_source=GNW

The wired segment is expected to hold the largest share of the utility communication market, by technology type, during the forecast period.
The wired segment is estimated to lead the utility communication market during the forecast period.Wired segment mainly includes optic fiber, Ethernet, powerline carrier, SONET/SDH, MPLS-IP, and MPLS-TP.

Optic fiber and Ethernet are the most preferred medium for networking in utility communication.Optic fiber offers higher bandwidth support and speed, which helps in providing high performance, reliability, and improved coverage.

The market for wired segment is driven by the versatility, speed and reliability offered by the segment. Asia Pacific is estimated to hold the largest share of the utility communication market, followed by North America because of the increasing need to upgrade aging infrastructure are expected to drive the market for utility communication market.

Asia Pacific: The fastest-growing market for utility communication.

The Asia Pacific is the fastest-growing market for utility communications, followed by Europe.The region has been segmented, by country, into China, Japan, India, Australia, South Korea, Malaysia, and Rest of Asia Pacific.

Rest of Asia Pacific mainly includes Thailand, Vietnam, Indonesia, and Singapore.There is a high demand for electricity in Asia Pacific, which is also the most populated region in the world.

Countries such as China, Japan, and South Korea are continuously investing in grid expansion projects to increase the reliability and resilience of distribution grids, which is likely to drive the demand for utility communication solutions and related services in the coming years.Besides, the smart grid market in the Asia Pacific region is expected to grow substantially in the coming years.

The region is expected to invest about USD 9.8 billion in the development of smart grid infrastructure between 2018 and 2027. Asia Pacific is also moving toward clean energy on a large scale to meet the growing energy needs of the region.
Major economies such as China, Japan, and India have ambitious solar and wind-based renewable power generation targets. According to the Renewable Energy Policy Network (REN21), China accounted for 45% of the total global investment (nearly USD 126.6 billion) in renewable power generation projects in 2017, followed by India, with an investment of USD 10.7 billion. Investments in infrastructure modifications are driven by the country’s aging power infrastructure. All these investments are likely to drive the market for utility communication solutions and services in Asia Pacific.

Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
• By Company Type: Tier 1- 65%, Tier 2- 24%, Tier 3- 11%
• By Designation: C-Level- 30%, D-Level- 25%, Others- 45%

By Region: North America- 27%, Europe- 20%, Asia Pacific- 33%, Middle East & Africa- 8%, , and South America- 12%
Note: The tier of the companies has been defined based on their total revenue; as of 2017: Tier 1 = >USD 5 billion, Tier 2 = USD 1 billion to USD 5 billion, and Tier 3 =
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).

Study Coverage:
The report provides a complete view of the utility communication market across regions.It aims at estimating the market size and future growth potential of the market across different segments such as technology type, utility type, component, application, end user, and region.

Furthermore, the report includes an in-depth competitive analysis of the key players in the market, along with their company profiles, recent developments, and key market strategies.
The market has been segmented based technology type, utility type, component, application, end user, and region, with a focus on industry analysis (industry trends). The market share analysis of the top players, supply chain analysis, and company profiles, which together comprise and evaluate the basic views on the competitive landscape, emerging and high-growth segments of the utility communication market.

Key Benefits of Buying the Report
1. The report identifies and addresses the types of utility communication that are essential for the efficient operation
2. The report helps solution providers understand the pulse of the market and provide insights into drivers, opportunities, restraints, and challenges.
3. The report will help key players understand the strategies of their competitors better and will help in making strategic decisions.
Read the full report: https://www.reportlinker.com/p04799015/?utm_source=GNW

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(GlobeNewsWire)

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