Kenneth Research, in its repository of market research reports, has recently added a report on Utility Communication Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Utility Communication Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Utility Communication Market products.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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Kenneth Research has published a detailed report on Payment Security Utility Communication Market, which has been categorized by market size as well as growth indicators, and further encompasses detailed market analysis on macro trends and region-wise growth in North America, Latin America, Europe, Asia-Pacific and Middle East & Africa region. The report also includes the challenges that are affecting the growth of the industry and offers strategic evaluation that is required to boost the growth of the market over the period of 2021-2025.
The Global Utility Communication Market was valued at USD 7.25 billion in 2017 and is projected to reach USD 25.59 billion by 2025, growing at a CAGR of 15.1% from 2018 to 2025.
What is Utility Communication?
Utility Communications is a terms used to define communication solutions that serve the function of providing companies with secure communication systems in order for them to be able to securely send sensitive information in a way that is reliable as well as safe. The data that utility communications provide vary, but primarily include video, voice as well as data. This data can be transferred through LAN or WAN connections at any time.
Global Utility Communication Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
Factors that are driving the market growth for the utility communications market are the security that the systems provide, the seamless integration of the service into the companies existing services as well as the ability to install the system even in hazardous areas.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global Utility Communication Market” is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market. This can be of a great use in gaining knowledge about the cutting-edge technologies in the market.
Global Utility Communication Market Competitive Landscape
The “Global Utility Communication Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Cisco Systems, Inc., Texas Instruments, Inc., Black & Veatch Holding Company, ABB, Ltd., Motorola Solutions, Inc., ZTE Corporation, Omicron Electronics GmbH, Power System Engineering, Inc., Fujitsu, Schneider Electric, General Electric, Milsoft Utility Solutions, Inc., Siemens AG, Valiant Communications, Digi International, Inc., Rad Data Communications, Ltd., Comnet, Netcontrol Open Systems International, Sensus, Landis+GYR and Ericsson. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above mentioned players globally.
Global Utility Communication Market, By Utility Type
• Public Utility
• Private Utility
Global Utility Communication Market, By Technology
• Wired Technology
o Optic Fiber
o Ethernet
o Power Line Carrier (PLC)
o Others
• Wireless Technology
o Microwave & Radio Communication
o Mobile Network
o RF Mesh
o Others
Global Utility Communication Market, By Communication Network Technology
• Cellular Communication Networks
• Microwave Communication Networks
• Fiber Optic-Based Communication Networks
• Very Small Aperture Terminal (VSAT) Communication Networks
• Tetra Networks
Global Utility Communication Market Geographic Scope
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Rest of Asia Pacific
• Latin America
o Brazil
• Rest of the World
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