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Smart Utilities Management Market Growth and Demand 2020 Global Industry Segmentation Analysis by Manufacturing Size, Trending Status of Manufacturers till 2024

Smart Utilities Management

The “Smart Utilities Management Market” report covers the overview of the market and presents the information on business development, market size, and share scenario. The report also emphasizes on the growth prospects of the global Smart Utilities Management market for the period 2020-2024. The report covers market characteristics for each segmentation across the key regions and country and traces the historic and forecast analysis of the industry. The report covers key vendors their revenue, breakdown by regions, and product demand. Other key details include volume, installed capacity, value chain.

Smart Utilities Management Market Dynamics: –

  • Drivers: (Developing regions and growing markets)
  • Limitations: (Regional, Key Player facing Issues, Future Barriers for growth)
  • Opportunities: (Regional, Growth Rate, Competitive, Consumption)

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Smart Utilities Management Market Segmentation by Top Key Players:

  • IBM Corporation
  • Atos SE
  • Honeywell International Inc
  • ABB Ltd
  • Cisco Systems Inc.
  • Siemens AG
  • Tendrill Inc.
  • Itron Inc.

    Market Overview:

  • The smart utilities management market is expected to register a CAGR of 18.72% during the forecast period (2019 – 2024). Energy consumption has overtaken energy generation by a significant measure and energy conversion is the new norm for organizations and governments. Therefore, the most prominent need for energy companies is to measure consumption, reduce wastage, and, at the same time, decrease the cost of procuring energy.
  • – The growing importance of smartening a country’s power grid system is heightened by the developing consumer model happening through the rise in decentralized power generation systems, such as Waste-to-Power, and Rooftop Solar PV technologies.
  • – The advent of smart cities and smart grids is also proving as a major driver for smart utility management adoption. Furthermore, innovation in battery technology is allowing smaller devices with longer operating times. Integration of cloud technologies is also expected to provide opportunities to grow in this area.
  • – The advent of renewable energy, oil price volatility, climate change policies, changing customer behavior, and cost containment pressure are the few challenges the energy sector is seeking to address on a daily basis.

    Scope of the Report:

    Smart utility network is the culmination of three different but mostly interconnected segments, namely smart meter/advanced metering infrastructure (AMI), smart consumer applications, and grid-level applications. It is further divided into meter data management system, energy monitoring/management, smart distribution management.

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    Key Market Trends:

    Power Sector Hits Growth with Meter Data Management System

    – A majority of the utilities are currently concentrating on setting up AMI infrastructure for meeting administrative requirements, green power initiatives, and additional business benefits.
    – Large volumes of data are being collected, with AMI meters being deployed, but utility providers have not started realizing the benefits of received data and other AMI capabilities to remotely perform transactions, apart from just accepting the monthly billing read.
    – Increasing investments in smart grid systems around the world are one of the primary factors driving the growth of these systems. Governments around the world are pushing for the deployment of AMI, in order to automate the existing operations and push technological growth. With smart grid systems offering high efficiency and helping in cost saving, the demand for smart grid is growing, thus having a direct impact on the growth of smart meters.
    – The Ministry of Power in India launched the India Smart Grid Week (ISGW) since 2015 and it is considered as one of the top five international events on smart grids and smart cities. With the launching of 100 smart city projects by the government of India, water and city gas distribution utilities will also need to equip themselves with the latest technologies for improved operational efficiency and successful integration into the smart city systems.

    Asia -Pacific to Emerge as the Fastest Growing Market

    – In Asia-Pacific, in the recent past, countries, such as Australia, Japan, and South Korea have shown considerable strides in their efforts to smarten their utility network systems.
    – For instance, in the case of Japan, its major utilities have committed toward the widespread smart meter rollouts by 2024, that could lead to installations of over 78 million smart meters across residential and low-use customers. The number of smart meters installations exceeded 10 million in 2016. Besides, the four major electric utilities, namely TEPCO, Tohoku Electric Power Co., Hokuriku Electric Power Co., and Kyushu Electric Power Co., have installed 750,000 smart meters in commercial premises, and are planning to complete their rollouts by the end of 2018.
    – In China, the State Grid Corporation installed around 90 million units of smart meters in 2014 and 2015. More than 100 local developers of smart meters are focusing on the up gradation of existing core technologies and communication modes, as they are being the major reasons for many concerns in the Chinese smart meters market.
    – Similarly, Victoria in Australia has been the first in the race toward a complete smart meter rollout, which was undertaken by SP AusNet and four other electricity distribution providers. Such advancements in the region have led to an increased dependence on smart utilities management software and services, due to the increased efficiency it allows major utility providers.

    The report provides key statistics on the market status of the Smart Utilities Management Market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the Smart Utilities Management .

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    Key Insights of Smart Utilities Management Market:

    • Complete in-depth analysis of the Smart Utilities Management
    • Important changes in market dynamics.
    • Segmentation analysis of the market.
    • Emerging segments and regional markets.
    • Historical, on-going, and projected market analysis based on volume and esteem.
    • Assessment of niche industry players.
    • Market share analysis.
    • Key strategies of major players

    Smart Utilities Management Market Report Covers Following Points in TOC:

    • Chapter 1: Smart Utilities Management Market Definition
    • Chapter 2: Research Methodology of Smart Utilities Management Market
    • Chapter 3: Smart Utilities Management Market Executive Summary
    • Chapter 4: Smart Utilities Management Market Overview Includes Current Market Scenario, Porter’s Five Forces Analysis, Bargaining Power of Suppliers and Consumers, Threat of New Entrants and Substitute Product and Services
    • Chapter 5: Market Dynamics Covers Drivers, Restraints, Opportunities and Challenges
    • Chapter 6: Smart Utilities Management Market Segmentation by Types, End-User, and Applications Forecast to 2024
    • Chapter 7: Smart Utilities Management Market Segmentation by Geographical Regions
    • Chapter 8: Competitive Landscape of Smart Utilities Management Market Includes Mergers & Acquisition Analysis, Agreements, Collaborations, and Partnerships, New Products Launches
    • Chapter 9: Key Players for Smart Utilities Management Market

    For Detailed TOC Click Here

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