7/1/2023 0 Comments Abb power grids finance ltd![]() ![]() Moreover, the increasing demand for renewable energy sources is also expected to drive the growth of the transmission and distribution segment, as renewable energy sources require new and advanced transmission and distribution infrastructure. Schneider Electric offers its EcoStruxure Grid platform, which provides real-time monitoring and control of power grids, while General Electric's Grid Solutions business offers a range of communication solutions for power grids, including its Multilin Intelligent Electronic Devices and its Advanced Distribution Management System. Companies such as Schneider Electric SE and General Electric Company offer advanced communication solutions for the transmission and distribution sector. As power grids become increasingly complex and decentralized, the need for reliable and efficient communication solutions in the transmission and distribution sector has become more important than ever. During the forecast period, the transmission and distribution segment is expected to witness high growth due to the replacement of ageing power infrastructure and the increased demand for electricity. Global Utility Communication Market – By Applicationīased on application, the global utility communication market is segmented into transmission & distribution, oil & gas utilities, and others. Now companies offer a range of Utility Communication for various industries and applications and are investing in research and development to improve the performance and sustainability of their products which drive market growth. ![]() These agents can improve the stability and performance of these formulations and reduce the environmental impact. ![]() In addition, the growing demand for eco-friendly and sustainable products is driving the use of Utility Communication in water-based formulations. The plastics industry also uses Utility Communication to improve the processability of materials, reduce cycle times, and improve product quality. In the paints and coatings industry, Utility Communication are used to improve the application properties and reduce the need for thinning agents, resulting in cost savings and improved performance. ![]() The use of Utility Communication such as drag reducing agents in pipelines can result in increased flow rates, reduced energy consumption, and lower maintenance costs. One of the key drivers is the need to improve the efficiency of the transportation and processing of crude oil and petroleum products. The global viscosity reducing agent market is experiencing growth due to the increasing demand for these agents in various industries. Opportunity: Growing demand for Utility Communication in various industries Additionally, the increasing focus on renewable energy, the need for more sustainable and resilient power grids, and the continuing trend of digitalization and automation in the utilities sector are expected to create new growth opportunities for the global utility communication market. The increasing demand for smart grid technologies and the need for reliable and efficient communication networks, the growing adoption of IoT and M2M communication technologies, rising investments in the development of advanced communication infrastructure, such as 5G and other wireless technologies, are expected to drive the growth of the global utility communication market during the period in analysis. During the forecast period between 20, BlueWeave expects the global utility communication market size to grow at a CAGR of 9.6% to reach a value of USD 30.91 billion by 2029. New Delhi, J(GLOBE NEWSWIRE) - Global utility communication market is flourishing due to an increasing demand for real-time monitoring and control of utility systems, electricity grids, and water networks the need to improve the resilience and reliability of utility networks in the face of natural disasters and cyber threats and the deployment of smart grids and the integration of renewable energy sources.īlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global utility communication market size at USD 16.27 billion in 2022. ![]()
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