Utility Communication Market

The demand for digital communication networks for utilities such as water, power and oil & gas is growing rapidly owing to various advantages, including automatic functioning, integrated communication systems, user friendly interface, and better operational efficiency. A variety of communication media are deployed nowadays for better monitoring and controlling in any utility network such as optical fiber, power line carrier technologies, cellular, WiMax, Spread spectrum radio systems.

The global utility communication market is projected to grow at 15.50% CAGR during the forecast period, 2018–2023. In 2017, the global utility communication market was led by Asia-Pacific with a 34.2% share, followed by Europe and North America with shares of 25.4% and 21.7%, respectively.

The global utility communication market has been segmented based on technology, utility type, and region. On the basis of technology, the market has been segmented into, wireless technology and wired technology. The wired technology is expected to grow at a faster rate during the forecast period. In 2017, the wired technology segment held 60.6% share of the global utility communication market. On the basis of utility type, the market has been segmented into, public utility and private utility. The private utility is expected to grow at the fastest rate during the forecast period. In 2017, the public utility segment held a 25.3% share of the global utility communication market.