Global smart utilities management market is expected to foresee significant growth. APAC to lead the growth!

The global smart utilities management market is expected to register a CAGR of around 18% over the period of 2021-2027. This is mainly due to the rising investment in digital infrastructure and smart grids, and the increasing usage of innovative solutions such as smart meters. Moreover, the upgradation of aging utility infrastructure followed by the increased need for resource management will positively stimulate the industry landscape. Smart Utilities is an energy and water provider, among others, that deploys connected devices across the grid and collects data that helps them deliver services more efficiently and reliably. In addition, the rising investments in smart cities are further propelling the smart utilities management market.

Based on the type, the market is segmented into meter data management, energy monitoring, smart distribution management, and others. Among these, the meter data management segment held a prominent share of the smart utilities management market in 2020 and is expected to witness substantial growth during the forecast period owing to the need to handle a huge amount of raw data and derive results from collected data.

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On the basis of application, the market is categorized into power industry, water supply, transportation, communication, and others. The communication segment captured a significant share of the smart utilities management market in 2020 and is anticipated to witness strong growth during the forecast period. The growth of this segment can be attributed to the rapidly growing communication industry along with the increasing use of smart utilities management solutions in the information and communication technology industry.

For a better understanding of the market adoption of the smart utilities management, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, Rest of North America), Europe (Germany, France, Spain, UK, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific), and Rest of World. The Asia-Pacific accounted for a prominent share of the global smart utilities management market and is expected to grow at a steady growth rate during the forecast period owing to the rising number of large, medium, and small enterprises and the growing demand for smart utilities among enterprises in the region. In addition, the adoption of smart utilities management solutions by governments is further playing a significant role in the growth of this market in the region.

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Some of the major players operating in the smart utilities management market are International Business Machines Corporation, Atos SE, Honeywell International Inc., ABB Ltd., Cisco Systems Inc., Uplight Inc., Itron Inc., GE Group, Schneider Electric SE, and Vodafone Group Plc.

Global Smart utilities management Market Segmentation

Market Insight, by Type

• Meter Data Management
• Energy Monitoring
• Smart Distribution Management
• Others

Market Insight, by Application

• Power Industry
• Water Supply
• Transportation
• Communication
• Others

Market Insight, by Region

• North America
  • US
  • Canada
  • Rest of North America
• Europe
  • Germany
  • France
  • Spain
  • UK
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
• Rest of the World

Top Company Profiles

• International Business Machines Corporation
  • Atos SE
  • Honeywell International Inc.
  • ABB Ltd.
  • Cisco Systems Inc.
  • Uplight Inc.
  • Itron Inc.
  • GE Group
  • Schneider Electric SE
  • Vodafone Group Plc