Smart Utilities Management Market

The smart utilities management market is expected to register a CAGR of 18.72% during the forecast period (2021-2026).
 
NAVI MUMBAI, India - June 10, 2021 - PRLog -- 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.

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.

Competitive Landscape

The smart utilities management market is highly fragmented due to companies around the world increasingly being aware of the technologies. They are also investing in integrating new technologies, in order to produce advanced metering devices with improved performance and efficiency. Some of the key players in the market are IBM Corporation, Atos SE, Honeywell International Inc., ABB Ltd, Cisco Systems Inc., and Siemens AG. These players are constantly innovating and upgrading their product offerings to cater to the increasing market demand.

- April 2019 - Atos announced that it achieved the Internet of Things (IoT) Partner Specialization in the Google Cloud Partner Specialization Program. By earning the Partner Specialization, Atos has proven their expertise and success in building customer solutions in the Internet of Things (IoT) field using Google Cloud Platform technology.

- January 2019 - Siemens partnered with Canadian utilities to research and develop electrical grid for the future.

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Tags:Smart Utilities Management
Industry:Automotive
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