Utility communication is a communication network that can ensure the continuous transmission of voice, data, and video through LANs and WANs, not only in a safe but also consistent and efficient manner. It is the groundwork on which contact between the utility’s data points can take place. Some of the most commonly used systems are Ethernet network control and data collection, SCADA, and smart grid control. Individuals and companies alike are welcoming the digital transition. Digital transformation can be described as the use of technology to enhance company efficiency or scope. Digital technologies and social networks are increasingly being used nowadays to improve interaction between government, corporations, civil society, friends, and family.
The utility communication market was valued at US$ 10,730.4 million in 2019 and is projected to reach US$ 35,138.1 million by 2027; it is expected to grow at a CAGR of 16.3% during 2020–2027.
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Utility communication is a collection of technologies and tools used to organize various components of a complicated delivery system. It tracks and manages the grid facilities, tests network output, and provides information in real-time. Advancements in IT systems led to the creation of automated delivery networks for utilities (power, energy, etc.) to allow efficient operations of modern power systems. This communication network allows for the effective and well-regulated transfer of resources such as power. The utility communication network is a double-sided communication channel that connects various data points through the system.
To prevent an environment of fractured communications networks, utilities across the world are investing heavily to develop the infrastructure for reliable communication. Its system supports demand response (DR), delivery automation (DA), and advanced metering system (AMI), powered by legislative mandates, government grants, and high energy inefficiency costs. The global market size for IoT is increasing significantly; this suggests that the scope of utility communication with respect to Industry 4.0 and IoT is rising. The demand for utility communications is growing subsequently with the increasing development of technology as the utilities seek to follow a progressive mode of data transmission. The utility connectivity deals mainly with data transmission and networking technologies. However, data privacy issues might hamper the market growth during the forecast period.
Impact of COVID-19 on Utility Communication Market
Coronavirus outbreak first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. As of March 2020, China, Italy, Iran, Spain, republic of Korea, France, Germany, and The US are some of the worst affected countries in terms confirmed cases and reported deaths. According to the latest WHO figures, there are ~11, 33, 758confirmed cases and 62,784 total deaths globally. The coronavirus outbreak has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global information and communication technology industry is one of the major industry that is suffering serious disruptions such as supply chain breaks, technology events cancellations, office shutdowns etc. as a result of this outbreak.
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Further, surge in renewable energy generation and distributed capital has resulted in the rapid growth of utility communication systems. Most countries focus on introducing advanced metering infrastructure (AMI), which involves the installation and usage of smart meters and other electronic devices that allow for two-way communication and data transmission between end-users and utilities. The move from conventional metes to smart meters is driven by factors such as incorrect billing, theft and power misuse, late payments, and meter reading costs.
The List of Companies – Global Utility Communication Market
ABB Ltd
FUJITSU LIMITED
General Electric Company
Honeywell International Inc
OMICRON Electronics GmbH
Rockwell Automation, Inc.
Schneider Electric SE
Siemens AG
Tejas Networks
Telefonaktiebolaget LM Ericsson
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