Global Utility Communication Market (2021 to 2026) – Growing Adoption of Wireless Communication Technologies, Especially 5G Presents Opportunities padovanews.it - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from padovanews.it Daily Mail and Mail on Sunday newspapers.
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The global utility communication market size is projected to grow from an estimated USD 18.7 billion in 2021 to USD 23.2 billion by 2026, at a CAGR of 4.4% from 2021 to 2026.
The key drivers for the utility communication market include growing investment in smart grids modernization of electricity networks; focus on improving grid reliability, increasing operating efficiency, reducing outage length; consolidating trend of digitalization oilfield communication; and government initiative to support deployment of smart grid technologies.
The wired segment is expected to hold the largest share of the utility communication market, by technology type, during the forecast period.