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Smart Utilities Management Market – Latest Trends 2021: Global Industry Size and Challenges, Business Growth Insights, Competitive Landscape and Regional Forecast to 2024

Smart Utilities Management

This “Smart Utilities Management Market” report provides a thorough analysis of estimating market size and current trends of industry. The report evaluates the important characteristics of the market development status, upcoming opportunities, and growth rate. The research study diminishes the risks involved in making decisions as well as strategies for companies and individuals interested in the industry. The report includes details of emerging trends, growth history, sales channel, manufacturers profiled in business, market share of product, application and regional scope of industry.

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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.

    Smart Utilities Management Market Covers Manufacturers:

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

    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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    Some of the Key Questions Answered in this Report:

    • Detailed Overview of Smart Utilities Management Market will help deliver clients and businesses making strategies.
    • Influencing growth factors that are thriving demand and latest trends running in the market.
    • Smart Utilities Management Market forecast for global market split into segments like region, product, applications, end-user, technology, etc.
    • What trends, challenges and barriers will impact the development and sizing of the Global Smart Utilities Management Market?
    • SWOT Analysis of each defined key player along with its profile and Porter’s five forces analysis to complement the same.
    • What is the Smart Utilities Management Market growth momentum or market carries during the forecast period?
    • Which region may tap the highest market share in the coming era?
    • Which application/end-user category or Product Type may seek incremental growth prospects?
    • What focused approach and constraints are holding the Smart Utilities Management Market demand?

    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.

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    Target Audience of Smart Utilities Management Market:

    • Manufacturer / Potential Investors
    • Traders, Distributors, Wholesalers, Retailers, Importers and Exporters.
    • Association and government bodies.

    Key Reasons to Smart Utilities Management Market Report:

    • Analysing various perspectives of the Smart Utilities Management market with the help of Porter’s five forces analysis
    • The End User that is expected to dominate the Smart Utilities Management market is analyzed in detail
    • The regions which are expected to witness fastest growth during the forecast period are analyzed and estimated for growth of Smart Utilities Management market.
    • Identify the latest developments, market shares and strategies employed by the major market players.
    • Regional analysis of Smart Utilities Management market studied, during the forecast period
    • The segments that are expected to dominate the Smart Utilities Management market studied.

    Detailed TOC of Smart Utilities Management Market Report 2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Introduction to Market Drivers and Restraints
    4.3 Market Drivers
    4.3.1 Rise in Smart City Deployment
    4.3.2 Improvements in Energy Efficiency
    4.4 Market Restraints
    4.4.1 High Cost and Security Concerns and Integration Challenges Associated with Smart Meters
    4.5 Industry Attractiveness – Porter’s Five Forces Analysis
    4.5.1 Bargaining Power of Suppliers
    4.5.2 Bargaining Power of Buyers/Consumers
    4.5.3 Threat of New Entrants
    4.5.4 Threat of Substitute Products
    4.5.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 By Type
    5.1.1 Meter Data Management System
    5.1.2 Energy Monitoring/Management
    5.1.3 Smart Distribution Management
    5.2 Geography
    5.2.1 North America
    5.2.2 Europe
    5.2.3 Asia-Pacific
    5.2.4 Latin America
    5.2.5 Middle East & Africa

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 IBM Corporation
    6.1.2 Atos SE
    6.1.3 Honeywell International Inc
    6.1.4 ABB Ltd
    6.1.5 Cisco Systems Inc.
    6.1.6 Siemens AG
    6.1.7 Tendrill Inc.
    6.1.8 Itron Inc.

    7 INVESTMENT ANALYSIS

    8 MARKET OPPORTUNITIES AND FUTURE TRENDS

    For Detailed TOC Click Here

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