Global Utility Communication Market (2021 to 2026) – Growing Adoption of Wireless Communication Technologies, Especially 5G Presents Opportunities padovanews.it - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from padovanews.it Daily Mail and Mail on Sunday newspapers.
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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.
The key drivers for the utility communication market include growing investment in smart grids modernization of electricity networks; focus on improving grid reliability, increasing operating efficiency, reducing outage length; consolidating trend of digitalization oilfield communication; and government initiative to support deployment of smart grid technologies.
The wired segment is expected to hold the largest share of the utility communication market, by technology type, during the forecast period.
By technology type, the wired segment is expected to be the largest contributor 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.
Utility Communication Market Worth $23.2 Billion by 2026
iCrowd Newswire
According to the new market research report by Technology Type(Wired and Wireless), Utility Type, Component(Hardware and Software), Application (Oil & Gas Network, T&D), End User (Residential, Commercial, and Industrial) and Region- Global Forecast to 2026″, published by MarketsandMarkets™, the Utility Communication Market size is expected to grow from an estimated USD 18.7 billion in 2021 to USD 23.2 billion by 2026, at a CAGR of 4.4%, during the forecast period. The key drivers for the Utility Communication Market include growing investment in smart grids modernization of electricity networks; focus on improving grid reliability, increasing operating efficiency, reducing outage length; consolidating trend of digitalization oilfield communication; and government initiative to support deployment of smart grid technologies.
by Technology Type(Wired and Wireless), Utility Type, Component (Hardware and Software), Application (Oil & Gas Network, T&D), End User (Residential, Commercial, and Industrial) and Region- Global Forecast to 2026 , published by MarketsandMarkets™, the Utility Communication Market size is expected to grow from an estimated USD 18.7 billion in 2021 to USD 23.2 billion by 2026, at a CAGR of 4.4%, during the forecast period. The key drivers for the Utility Communication Market include growing investment in smart grids modernization of electricity networks; focus on improving grid reliability, increasing operating efficiency, reducing outage length; consolidating trend of digitalization oilfield communication; and government initiative to support deployment of smart grid technologies.