A comprehensive overview of the global smart utilities management market is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the smart utilities management market globally. This report offers a detailed analysis of the latest industry developments and trending factors that are influencing market growth. Furthermore, this statistical market research repository examines and estimates the global market at regional and country levels. The global smart utilities management market is expected to register a CAGR of around 18% over the period of 2021-2027.
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Market Overview
The smart utilities management market demand is increasing at a significant rate over the years and is expected to witness influential growth during the forecasted period as well. Factors such as the arrival of smart cities and smart grids, increasing usage of innovative solutions such as smart meters, increased investments in digital infrastructure, and investment in smart grids are positively influencing the smart utilities management market.
The global smart utilities management market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By type, the market is primarily bifurcated into:
- Meter Data Management
- Energy Monitoring
- Smart Distribution Management
- Others
Among these, the meter data management segment accounted for a significant share of the smart utilities management market in 2020 and is expected to witness robust growth during the forecast period mainly due to the need to handle a huge amount of raw data and perform long-term data storage and management for the vast quantities of data delivered by smart metering systems.
By application, the market is primarily bifurcated into:
- Power Industry
- Water Supply
- Transportation
- Communication
- Others
Among these categories, the communication segment held a commendable share of the smart utilities management market in 2020 and is expected to witness substantial CAGR during the forecast period. The growth of this segment can be attributed to the growing communication industry along with the increasing use of smart utilities management in the information and communication technology industry.
Global Smart Utilities Management Market Geographical Segmentation Includes:
- North America (US, Canada, Rest of North America)
- Europe (Germany, France, Spain, UK, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific)
- Rest of the World
APAC accounted for a significant share of the global smart utilities management market and is expected to grow at a steady growth rate during the forecast period. This can be attributed to the rising number of large, medium, and small enterprises and the growing demand for smart utilities among enterprises in the region. In addition, the growing electronics industry is another factor contributing to the smart utilities management market in the region. For instance, according to the Indian Brand Equity Foundation (IBEF) electronics industry in India has grown the domestic production of electronics from US$ 29 billion in 2014-15 to US$ 67 billion in 2020-21.
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The major players targeting the market include:
- International Business Machines Corporation
- Atos SE
- Honeywell International Inc.
- ABB Ltd.
- Cisco Systems Inc.
- Uplight Inc.
- Itron Inc.
- GE Group
- Schneider Electric SE
- Vodafone Group Plc
Competitive Landscape
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating globally. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the global smart utilities management market. The major players have been analyzed by using research methodologies for getting insight views on market competition.
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Key questions resolved through this analytical market research report include:
- What are the latest trends, new patterns, and technological advancements in the global smart utilities management market?
- Which factors are influencing the global smart utilities management market over the forecast period?
- What are the global challenges, threats, and risks in the global smart utilities management market?
- Which factors are propelling and restraining the global smart utilities management market?
- What are the demanding global regions of the global smart utilities management market?
- What will be the market size in the upcoming years?
- What are the crucial market acquisition strategies and policies applied by the companies?
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