Smart Utilities Management Market Size, Share, Analysis 2031
Smart Utilities Management Market Size, Share, Analysis 2031
Segments - Smart Utilities Management Market by Types (Energy Monitoring/Management, Meter Data Management System, and Smart Distribution Management), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
Upcoming
| Report ID :EP-3645
| 4.2 Rating
| 61 Reviews
| 165 Pages
| Format :
Report Description
The Global Smart Utilities Management Market size was valued at USD 18.38 Billion in 2022 and is expected to surpass USD 75.51 Billion by 2031, expanding at a CAGR of 17% during the forecast period, 2023 – 2031. The growth of the market is attributed to the growing importance of smartening the power grid system for smart management of power & energy.
Smart Utility Management System is the solution designed to aid in management of the utility infrastructure. The system uses water, electricity, and gas data to capture insights and meet the sustainability requirements and increase the efficiency targets. The smart utility management sector is one of the top industries vertical that effectively serves the large customer bases.
The smart utility management sector plays a vital role in the socio-economic development of the region. The government is the major stakeholder of the smart utilities market, while very few private firms also serve the market. The increasing competition in the utilities sector in recent years has necessitated modifications in regulatory agendas and proprietorship structures of the organizations.
The effective utility management system aids in the utility sector to respond the existing and forthcoming challenges. The smart utilities management system also helps the utilities sector to enhance the maintenance of the infrastructure and increase the performance in critical sections.
Market Trends, Drivers, Restraints, and Opportunities
-
Growing integration of cloud technologies, rising innovation in battery technology, and increasing use of smart devices are the key factors anticipated to fuel the growth of the market in the coming years.
-
Increasing development of consumer model and rising decentralized power generation systems are expected to spur the market growth during the forecast period.
-
Rising adoption of Waste-to-Power and Rooftop Solar PV technologies is expected to propel the market expansion during the projected timeline.
-
Advent of renewable energy, climate change policies, changing customer behavior, oil price volatility, and cost containment pressure are anticipated to hamper the market growth in the coming years.
-
Increasing industrial investments for technological advancement for effective utilization of energy is expected to offer immense opportunities for the market players in the long run.
Scope of Smart Utilities Management Market Report
The report on the global smart utilities management market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
|
Attributes |
Details |
|
Report Title |
Smart Utilities Management Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
|
Base Year |
2022 |
|
Historic Data |
2016-2021 |
|
Forecast Period |
2023–2031 |
|
Segmentation |
Types (Energy Monitoring/Management, Meter Data Management System, and Smart Distribution Management) |
|
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
|
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
|
Key Players Covered in the Report |
Atos SE; IBM Corporation; Siemens AG; Honeywell International Inc.; and ABB Ltd |
Smart Utilities Management Market Segment Insights
Meter data management system segment is projected to hold a significant market share
On the basis of types, the market is segregated into energy monitoring/management, meter data management system, and smart distribution management. The meter data management system segment is projected to hold a significant market share during the forecast period due to the increasing demand for advanced metering infrastructure for meeting administrative requirements, green power initiatives, and business benefits.
Furthermore, the government support for the deployment of AMI to automate the existing operations and boost technological growth are anticipated to fuel the market segment in the coming years. However, the energy monitoring/management segment is anticipated to expand at a considerable pace owing to the rising demand for smart grid systems for achieving high efficiency and cost savings. Moreover, the increased the demand for water and gas distribution utilities is anticipate the growth of the market segment during the forecast period.
Asia Pacific market is anticipated to dominate the market
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is anticipated to expand at a significant CAGR during the forecast period owing to the growing demand for implementation of projects such as smart cities and smart grids. Moreover, the region is expected to continue its dominance in the market due to the increasing digitalization of technologies in communications, software, computing, and businesses mapping.
Furthermore, the increasing energy demand across the world, rising distribution of energy resources, and growing demand for reliable power is expected to expand the market in the coming years. On the other hand, the market in North America is expected to grow at a significant rate during the forecast period due to increasing demand for smart solutions that can be employed to manage various utilities such as smart gas management, smart water management, and smart grid management. Furthermore, the rising expansion of cities, increasing urbanization, and widespread adoption of green technology are expected to fuel the regional market growth during the projected period.
Segments
The global smart utilities management market has been segmented on the basis of
Types
- Energy Monitoring/Management
- Meter Data Management System
- Smart Distribution Management
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Atos SE
- IBM Corporation
- Siemens AG
- Honeywell International Inc.
- ABB Ltd
Competitive Landscape
Key players competing in the global smart utilities management market are Atos SE; IBM Corporation; Siemens AG; Honeywell International Inc.; and ABB Ltd. The companies are focusing on business strategies and long-term agreements with other industry players for new product developments, acquisitions, expansions & investments to expand their market share.
-
In April 2019, Atos SE announced its achievement of Internet of Things (IoT) Partner Specialization in the Google Cloud Partner Specialization Program. The company aimed to prove its expertise and success in building customer solutions in the Internet of Things (IoT) field using Google Cloud Platform technology by earning the partner specialization.
-
In January 2019, Siemens AG announced its partnership with utilities of Canada. The company aimed to expand its research & development activities for technological advancement for electrical grid in Canada.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Smart Utilities Management Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Smart Utilities Management Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Smart Utilities Management Market - Supply Chain
4.5. Global Smart Utilities Management Market Forecast
4.5.1. Smart Utilities Management Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Smart Utilities Management Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Smart Utilities Management Market Absolute $ Opportunity
5. Global Smart Utilities Management Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Smart Utilities Management Market Size and Volume Forecast by Types
5.3.1. Energy Monitoring/Management
5.3.2. Meter Data Management System
5.3.3. Smart Distribution Management
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Smart Utilities Management Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Smart Utilities Management Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Smart Utilities Management Demand Share Forecast, 2019-2026
7. North America Smart Utilities Management Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Smart Utilities Management Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Smart Utilities Management Market Size and Volume Forecast by Types
7.4.1. Energy Monitoring/Management
7.4.2. Meter Data Management System
7.4.3. Smart Distribution Management
7.5. Basis Point Share (BPS) Analysis by Types
7.6. Y-o-Y Growth Projections by Types
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Smart Utilities Management Demand Share Forecast, 2019-2026
8. Latin America Smart Utilities Management Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Smart Utilities Management Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Smart Utilities Management Market Size and Volume Forecast by Types
8.4.1. Energy Monitoring/Management
8.4.2. Meter Data Management System
8.4.3. Smart Distribution Management
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Smart Utilities Management Demand Share Forecast, 2019-2026
9. Europe Smart Utilities Management Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Smart Utilities Management Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Smart Utilities Management Market Size and Volume Forecast by Types
9.4.1. Energy Monitoring/Management
9.4.2. Meter Data Management System
9.4.3. Smart Distribution Management
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Smart Utilities Management Demand Share Forecast, 2019-2026
10. Asia Pacific Smart Utilities Management Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Smart Utilities Management Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Smart Utilities Management Market Size and Volume Forecast by Types
10.4.1. Energy Monitoring/Management
10.4.2. Meter Data Management System
10.4.3. Smart Distribution Management
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Smart Utilities Management Demand Share Forecast, 2019-2026
11. Middle East & Africa Smart Utilities Management Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Smart Utilities Management Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Smart Utilities Management Market Size and Volume Forecast by Types
11.4.1. Energy Monitoring/Management
11.4.2. Meter Data Management System
11.4.3. Smart Distribution Management
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Smart Utilities Management Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Smart Utilities Management Market: Market Share Analysis
12.2. Smart Utilities Management Distributors and Customers
12.3. Smart Utilities Management Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Atos SE
12.4.2. IBM Corporation
12.4.3. Siemens AG
12.4.4. Honeywell International Inc.
12.4.5. ABB Ltd
Methodology
Related Reports
Some other reports from this category!
Our Clients
